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Floundering

March 7th, 2008 at 10:13 pm

Now that my EF is at my initial goal of $5,000 I am starting to feel lethargic with my plans. I know that the next step is to pay off debt but it is looking so bleak at the moment.

My boss took me aside this week and explained that the health insurance premiums are more than she originally thought, so they are going to be basically 25% of my pay. Basically it is going to take up all the "extra" that I was going to put toward the CC you see on the left. I feel as though we will never get anywhere. Every time I feel like we are *finally* getting up some momentum stuff like this slams into us.

I have $1,200 set aside from the tax refunds that were over and above the $5k EF. It is sitting in an ING account until I can decide what to do with it. I just don't know.

5 Responses to “Floundering”

  1. Kaycee Says:

    I have lots of printable rebates on my website, you should check it out:
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    I try to add 1 rebate and 1 premium offer every day (Mon-Fri) so check back often Smile
    Make sure you keep copies of rebates you send in and when you mail them, in case you don't get it and have to contact the company. I scan mine in, and move it between "Waiting" and "Received" folders as they come in.

  2. HouseHopeful Says:

    I am so sorry to hear that! Its fustrating when something changes your plans. I think its smart to park that money until you have time to think about these changes. Good luck!

  3. ceejay74 Says:

    What you should do is sit back with a smile of satisfaction! $5K in an emergency fund is nothing to sneeze at, and less than $9K of credit card debt not much to worry about. You know what? Keep that money in the ING account. You don't need to wipe your savings clean just to take down some credit card debt.

    Don't be too hard on yourself; just put a couple bucks here and there toward your credit cards. It will add up faster than you think.

    Congratulations! You're doing great.

  4. baselle Says:

    I think its fantastic that you have the $5K in an emergency fund already.

    I think I would put a bit of your refund into the credit card - Feb 09 will be here quicker than you think. If your $5K emergency fund is earning interest, I also think about taking the interest earned after 3 months and putting that into the card also...it will help you feel safe but moving forward.

  5. MariRDH Says:

    Thanks for all the support and encouragement, everyone! I really appreciate it.

    Baselle,
    That is a great idea about transferring the interest accrued on my savings to pay the CC. I was doing this before to help build the EF so (duh) thanks for pointing out what I already should have seen. Some days I just get so flustered and down and can't see the forest for the trees. *blush* Since the refund is earning interest and the CC is at 0% I think I'll keep that parked in savings until the end of the year, then transfer it over to pay a chunk on the CC.

    Thanks for the extremely helpful feedback!!!

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