The last time I shared our credit card debt was in July when I did the balance transfer when we had $9880 in credit card debt.
Here are our current credit card balances:
- AMEX $1809
- Chase $8714
- Wells Fargo Line of Credit $350
$10873.00 is the grand total.
As you can see, our debt increased. I can tell you one reason why – we had to buy $1600 worth of tires for one of our vehicles after Mr. A’s business vehicles were disabled. Why $1600? That’s what I asked. But it was a situation where we were stuck without any options. We have a 25 year old truck which we use to haul our water. The engine was rebuilt less than two years ago. The community well is less than a mile from our home, so the six year old, dry rotted tires were not a problem for the little bit of driving that was being done. But when we had to start driving on the highway, in less than two weeks time, Mr. A had three blowouts. This vehicle was given to us by my in-laws and they had special rims placed on the vehicle, which of course required special tires. Giant tires which probably decrease the miles per gallon significantly.
It wasn’t until after we bought two new tires for $800 that I had my brainstorm. I told Mr. A we should buy four regular style rims from a junk yard, and then buy four regular tires. But then Mr. A had the third blowout and before I knew it we had bought four new tires to the tune of $1600. For a long time I was saving back money for new tires but then I had to seriously deplete our sinking funds.
I am paying $300 each month to the Chase Card, $100 to the AMEX and whatever extra I can find to the Wells Fargo Line of Credit. I hope to have the Line of Credit paid off soon, as it is the balance left on the car.
If I can ever start driving my little car, I anticipate a savings of at least $175 each month in gasoline costs since it should get much better mileage than the passenger van I am still driving. I told my employer it won’t be long, and I was told, “No hurry!” So I haven’t been stressing out about it too much.
The remaining problem with the little car is the ignition key gets stuck. It gets stuck in several ways. I can put the key in and take it out, but I cannot turn the car on. When I finally get it turned on, I can turn it off, but the key won’t come out. I have done some research, and it can be a costly repair. So I am waiting on Mr. A to come up with a cheaper solution.
I hope the next time I share an update our debt will be under $10,000. This is such a struggle! I have been blogging over five years now, working on this debt. I am grateful I have a job and we have enough money to make ends meet. There are many people in worse situations, and there are people with much larger amounts of debt. I feel embarrassed at times though because I have read so many personal finance bloggers who are able to get out of ten times as much debt as we’ve had in half the time.
Thanks for reading and following along on our journey.