The debt crisis in my wallet
I try to stay out of big debt. My credit card balance stays pretty low. I rarely use it and just pay down the debt. When I do use it, it is for big ticket items such as my computer or a plane ticket.
And finally, within this last week, I paid my credit card off.
Temporarily.
First of all, this isn’t really the first time this has happened, but usually, something bad or unexpected happens which forces me to use it again.
Second of all, it’s not really paid off.
I paid the exact amount that was currently posted to my account, $177, but the charge for fixing my freezer, $225 had yet to appear as having been charged.
So for a brief time, I could consider myself paid up. Even though I knew it was just a matter of timing. So I didn’t feel relieved, but sort of resigned and irritated by another $225 that I suppose I could have paid off then and there too. But I didn’t.
I’m in a financial situation now where I expect to be moving soon, and so I need to keep the cushion in my checking and savings for a deposit and the cost of moving, not to mention to help make up the sort of shortfall expected between the mortgage and what can be charged for rent on this condo.
So if I took that $225 and put it on the credit card, I’d undoubtedly have some sort of crisis.
Instead, I plan to slam another good amount on it next week when I get paid. So in theory, I could have it paid off soon. If I wasn’t planning to buy a plane ticket to go home soon. Each time I go home, it gets more expensive. The first trip I took home, it cost less than $400. This time, it could easily reach $750. And I’ve only been gone for four years.
It never ends. Debt, we were told until just recently, was very good. It keeps the economy moving, until it doesn’t.
I also find myself burdened with a condo that is worth much less than what the mortgage was for. Many people are losing their homes to foreclosures, but I’m too conscientious. I pay my bills. I can make this work. It’s perfectly fine. Eventually the market will get better.
So even if I paid off my credit card, it would make no difference. There’s the house, the American dream turned to American debt burden.
