I like selling books. I like getting emails like this even more. Enjoy…
Dear Mr. Tully,
I read on your blog a few months ago or maybe a year that you recommend not touching your savings to pay off your credit cards. I read too the comments from your followers who disagreed with you.
I just wanted to say that my husband and I followed your advice and paid off $8400 dollars of credit card debt without dipping into our savings. It was a horrible experience looking at our balance and statement and saying Oh, well, looks like we’re going to pay 230 dollars in interest this month!
It took most of my paycheck every month to make any headway and my husband was laid off but then rehired so we didn’t make a straight shot at it all the way through like we thought we would. We had a couple of months where we had to put gas for the car and some groceries on the credit card, but that was it.
Right now, our balance is 900 dollars and will probably pay that off in January because I have to have had some dental work done. My husband works outside and I work at home, so we have stayed lucky and healthy. So I’m prayer-filled for that.
I just have never had such a painful financial experience I don’t think, but when I ask my husband if we would have put the 8400 dollars back in our savings if we’d paid everything off at once he said Probably not.
We keep have the credit cards in a plastic cup in the freezer now. If we need them, we can pull the cup out and melt the ice to get the cards if there’s an emergency. Otherwise it’s cash money or a debit card or we don’t buy it.
I hated the time it took to just get back to even but lesson learned. We pay for it or we wait for it. We’re not old money but thanks to this experience we’re Some Money.
I’m going to order Old Money New Woman in January, too. My niece is graduating early.
Thank you very much for your writing. I hope we can visit Paris some day.