Monday, September 1, 2008

Rock Bottom

For anyone with an addiction, rock bottom is that point where the addiction has forced upon them a situation of utter nothingness. A sense of dismay with life. While I haven't actually reached that point, I see it coming in the future, and rather than waiting for it, I am going to address it now.

For the past month, I have found it difficult to blog about my financial life. As anonymous has pointed out in comments, things have very much taken a turn for the worse. My investments, while left ignored, have dwindled to nothing. My bank account continues to be drawn down due to constant trips to the casino. Sure there are times that I win, but I find myself losing more and more. In addition, I have been using credit to finance some of life's unavoidables, such as work clothes or a flight to a friend's wedding.

While none of these items have forced me anywhere near bankruptcy, nor am I near any kind of debt held by the average American, I know this is not responsible fiduciary behavior.

Ironically, I have often complained to myself that I had little to offer the world, since my finances are so different from average. But now I find myself in a situation that anyone could relate.

From hereon forward, I will be changing my goal. My near term (1-yr) goal is get rid of my credit card debt. My long term debt with my car and student loans are still on track and will continue to be paid down in regular installments.

This blog will then be about how I balance my new focus on decreasing debt, while trying to maintain a similar (but not the same) lifestyle.

Moving forward, my daily posts will be about my plans, my progression, and little things I'm doing to turn around my financial situation.

PS - I have not turned off the anonymous commenting. While to the point and typically stinging, I feel that posters should take some responsibility in what they write. After all, it is my life. While I open it up for debate and advice, I am not inviting you to be my mother. I already have a mother for that.

PPS - It will take me a little time to update the blog with my new debt figures and to formulate a plan. Give me some time.


Anonymous said...

It's really interesting to see how easy it is to end up in credit card debt--at any level.

It really puts into perspectective how much of a challenge credit is to the average American (and obviously you're fortunate enough to be well ahead of the average, but if YOU are dealing with credit debt, it's easy to imagine what other people with more financial obligations and less income must face.) Good luck!!

Anonymous said...

goodluck. how goes the finance rotation btw?