Welcome to week nine of the Debt Snowflake Challenge.
It happens. You are paying aggressively on your debts, making good progress, watching the smallest debts disappear, one by one. You start to think that you’ll be kicking debt to the curb faster than you ever thought possible. You begin to think about a life without debt. You imagine getting you paycheck and having the ability to decide where every last dollar will go because there are no more creditors to pay. You imagine how you will begin to gain financial security by building up an emergency savings, adding to your retirement, putting aside money for your kids college. . . and then it happens. You hit a bump in the road. Maybe it is more like a vehicle-size pothole. Your progress comes to a screaching halt.
The easiest thing to do is to give up.
Maybe the path to become debt free seems too difficult. Your debts are too large, and there are too many unexpected obstacles in your path. Perhaps you work overtime, and rather than being able to apply that money to your debt, as you had planned, you have to apply it to an unexpected car repair. Handing over that cash hurts. Using a credit card would just be so much easier. You think, in this economy, most people have credit card debt. Getting out of the debt hole is too difficult.
After 3 months of making giant strides on our debt repayment, we slowed waaayyy down in February to save up money for my husband’s conference. While I didn’t like slowing down, I knew that we had to have the money upfront so we could avoid financing the trip and then paying off the credit card when we got the reimbursement, as we used to do.
I was looking forward to March and aggressively snowflaking again. But, then our check engine light came on, and the car needed a $586.04 repair. We also had some other expenses that weren’t in the budget. Most of the expenses will save us money in the summer months, so I expect snowflaking to get back on target then, but it is frustrating to watch all of our progress come to a complete halt. It would be easy to give up. But I am not going to do that. We’ll take care of this current financial difficulty and get right back on track.
If you don’t make much progress for a week, or a month, or two months, don’t give up. As long as you aren’t incurring new debt, you are heading in the right direction, albeit slower than you would like. But you’ll get there.
So will we.
No progress this week.
In the last nineteen weeks since we have gotten gazelle intense, we have “found” $5942.48 to snowflake!
How did you do this week? Feel free to link up and share your progress.