Anniversary of a Turning Point

This month marks a turning point in my life. Five years ago I signed up for my first credit card. Just as many college students had before me I fell victim to one of the many credit card offers that came my way. I signed up saying “in case of an emergency” and within a couple years I was down over $10,000 and only making minimum payments. The worst part of it is that I really didn’t have anything to show for all of that. How in the world could I have spent that much and not even know where it went too?  Unfortunately that is the same question that most people in credit card debt ask.

Luckily for me, a good woman came my way and showed me that debt is bad and I need to work hard to escape it. Now, between the 2 of us we’ll be paid off by the end of the year and we will never go back to having credit card debt. I did some math recently and if I had continued to pay the minimum 2% payment on that $10,000 it would have taken me over 33 years to pay off! That is crazy! Think about that the next time you are tempted to put something on your credit card.