On Christmas Eve, I was sitting on the couch enjoying a cup of coffee and a post swim endorphin glow. Enjoying the last few quiet hours before the family festivities begin.
Not that I don't enjoy the family festivities of course...I just like my quiet time too.
So I was sitting on the couch, reading the newspapers and thinking about 2013.
I'm not a big resolution maker myself - I prefer to make plans rather than resolutions. And I made a plan.
The last few months, I've been working hard to keep credit card debt from rising during the Christmas shopping rush. I forced myself to pay cash for everything and, when I had to order online, I had to transfer the amount I spent from my bank account to my credit card immediately.
I've made it through Christmas unscathed. That doesn't mean that I am debt free. Far from it. Between my car, my loan and my credit card - I'm managing but it feels like a never-ending battle. My car will be paid off in 18 months. My loan in 48 months. My credit card - as soon as possible.
So I've made a plan. Not a resolution but a plan.
1. Set up a by-weekly system to put money into savings. I need to build up a cushion for those unexpected things that set me back on my debt-reduction path.
2. Do not use my credit card unless absolutely necessary (ex. race entry fees) and only if I have the cash on hand to pay it down immediately.
3. Pay down my credit card bill by June 2014 and reduce the limit as I go so it stays low.
Regroup next December. If I have managed to pay down my credit card debt and scrape together some savings - then I decide whether to pay down my loan faster with the extra cash on hand or increase my savings.
One step at a time.
Kinda like running a half-marathon...