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Two monkeys off my back

November 16th, 2005 at 07:46 am

I just took some money out of savings, and scheduled payments to pay off the homeowner's insurance I've been paying in installments, and the Firestone bill. I also cancelled $70 worth of automatic monthly savings deposits into ING. This still leaves me with $1500 in what was our "new car account," that can actually be used for emergencies if need be.

To get our debts paid off, I now realize that I simply can't afford to sock away as much into goal savings as I was trying to. If I continued doing that, I'd keep being short on cash to pay current expenses and emergencies, and I'd keep charging them. Paying off our debts completely is one of the few ways I can adjust our All Your Worth "must haves" category so I'm more motivated than ever to get them paid off. (They count minimum payments on ccs as a must have.)

It's like Frugal Laura In Texas just said--it makes you feel good to see that money sitting in ING, but if your cc balance is going up, too, you are just fooling yourself about getting ahead.

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