Find me on Facebook

Wednesday’s Debt Free Days: Why Good Credit is a Blessing and a Curse

Finding my way into debt was extremely easy.  Having good credit can be a blessing and a curse, dependent upon who you ask and their personal experiences.   I’ve learned that it takes a certain mindset to understand how money and credit work.  That same mindset will determine your spending habits and your ability to save.

My husband and I have good credit and that is part of the problem.  You work hard to achieve a great credit standing and once you do the credit offers seem to find you.  When you purchase a home, forget about it!  Companies you’ve never heard of find you and throw gobs of money at you.  We learned this after the purchase of our first home 4 years ago.  With a proper understanding of how money works, those offers would have probably not phased us.  But for us, the feeling of entitlement because we worked so hard to keep a positive credit rating sent us down a spiraling road of interest charges, overspending, and growing debt.

I’m going to keep it 100% with you guys.  Full transparency right?  Over the past two weeks I have been going through an internal battle with myself.  This battle is completely due to credit card withdrawal!  I am having some serious withdrawal symptoms from not being able to reach into my wallet and buy whatever I want with my credit cards.  It seems that everything I see while I’m out is wanted or needed.  Ok, more so of a want than a need.

There have been a few restless nights, days when I simply couldn’t bring myself to eat like I normally do, and more conversations surrounding money in my home than I would like.  The struggle has been all to real.

I’ve found that continually opening myself up to learning about money, spending, credit, and debt helps to sooth my ego some days.  Having good friends who reign me back in when I’m about to jump off the deep end and spend recklessly has been a true blessing.  Each day that I’m on this journey to become 100% debt free is unique and scary, and fulfilling all at the same time.

I’m an overachiever in many aspects of my life.  Being a business owner is one.  I don’t back down from challenges easily, and I meet my goals time and time again.  Taking that same energy and putting it towards this money struggle hasn’t been so easy.  Ok, I’ll admit that money has always been my weakness.  Not in the way that will cause me to do anything for it, thank God for that.  It’s my weakness in a way that I always think about it, always want to have more of it, and always feel better emotionally when money is freely flowing through my hands and my bank account.  Don’t judge me y’all.  We all have our vices right?

The hardest thing I’ve had to do in a long time was to get rid of my credit cards.  They were a sense of security for me and made me feel accomplished.  Remember when I wrote about sending all of my credit cards to my mother for safe keeping?  Well the truth is, it took me 3 weeks to take that envelope out of my purse and mail it off to her.  I walked around with it like a security blanket for 22 days after making the decision to get rid of them.  I’m taking it day by day, and learning to be happy with myself and my abilities outside of how many credit lines I have available to spend on.

Alright then folks.  I’ll check in with you all next week Wednesday.  Do let me know how having good credit has affected your life, good or bad.

 

The life and times of one Black mama who conquered the world through adoption. This is my story.

Leave a Reply