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» posted on Monday, May 23rd, 2005 at 5:57 pm by Ted

 

Credit Cards Remove The Value Of Waiting

No Credit Needed has an interesting post about the value of waiting.

I’d be the first to admit I rush in with my credit card when I want things now, I also rush in when I need things too. Which brings us to needs and wants, for example some of the recent purchases I’ve made

  • Walking Shoes I needed these, I’d been walking back and forth to work in a pair of flat soled deck shoes that I’d originally bought for sailing. They are great on a boat, and comfy to wear when you’re sitting down all day, but the result of wearing them all day every day was shin splints. So I did need them.
  • Ipod Mini I wanted one, I already had a Walkman, and a 128mb MP3 player which were still in working order. I justified this purchase by telling myself I deserved it because I had been saving a fortune by walking to work and not paying for inner city parking and petrol. So I shelled out for an Ipod Mini that I use every weekday. But I didn’t need it, I just wanted it.

    • But I have developed some self control, my flatmate invited me on a ski trip and I declined saying that I was concentrating on paying down my credit cards. I’ll take a holiday when the weather is warmer and when I get ahead of my planned 2 year credit card payment strategy.

    I’ve spent some time developing a spreadsheet for my credit card debt. I’ll develop some sort of nifty graph for it and post it with my monthly credit card status report. At the end of April I am a little behind my goal, but I should be much closer come the end of May.

     

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