It has been a while since I’ve written a post! There are a few reasons for this, mainly because work got busy and recently I failed my personal finance journey (again). Not many people I can think of want to read about the fall of someone’s finances (especially on repeat). But here it is!
[Related: I Am Not FI(RE) or Mustachian Material]
I did pay off the prepaid expenses related to the expensive impulse travel noted in the link above and have been moseying along quite well with my budget, but then my anxiety got the best of me and I purchased a premium upgrade seats. Because the thought of a long flight freaks the crud out of me especially when smooshed together rubbing elbows with one another. But I am also paying for 2. I am sure you can only imagine the price of that round trip even with a budget airline.
Then once the descent starts on the credit card I compiled that debt with, “well I might as well get everything else I need!”. Concert tickets for the summer, clothes much needed for work, a dinner here and there, and more. I racked up $4500 and am still anticipating another $2,500 – $4,000. Non-refundable.
In addition to that we are anticipating another big expense end of year.
And I just remembered about Christmas, too.
[Related: The Cycle That Has Yet To Break]
Ninety-nine percent of people with ADHD cannot own a credit card because it only takes one time to knock it out of the ballpark. Hence the example above. I f*cked up. And my baseline debt just keeps growing with my salary increases. And I still own a credit card. And I don’t have an emergency fund.
I haven’t thought of my plan for getting out of this until the rest of the debt finishes piling on. One good thing in my favor, my credit card utilization is <5%. Well really not in my favor because I don't need that much credit!
All in all, it needs to be always and forever CASH (or debit).