It's no secret that my financial life is a mess right now, so last night’s grocery shopping trip sent me into another tailspin. I am close to the maximum balance on 2 of my 4 credit cards, and after last Friday’s vet visit we all know my checking account status is UGLY! Before we left for the store I checked all of my accounts online, determined which of the 2 cards without a balance has the best rate and decided to use that card with the express intention of paying the amount in full before any interest attaches. I put the card in my purse and we went to the store. We didn’t need much, but since we are going camping this weekend we picked up a couple extra food items to take with us so we don’t have to rush around at the last minute to pick up what we need. At the checkout I pulled out the card I had pre-determined I should use and handed it to the cashier. When I heard the words “this card was declined” I felt dizzy and nauseas. I flat out refused to panic in public, so I pulled out my Cash & Check card and used that instead (as of last night the vet payment had not been taken from my account). I used every breathing technique I know to keep it together until I got in the truck (a minor victory in itself).
I didn’t say much on the short trip home because I didn’t want to agitate Scott any more than he already was. I waited to let the tears and panic out until I was alone in the bathroom, safe at home. I started chanting the first line of the 23rd Psalm “The Lord is my Shepherd, I shall not want”. After a couple of minutes I was able to remember more lines and began to calm down. Scott had already put away most of the groceries and he understood that I needed some alone time, so I went downstairs to get my mind off everything for a while by looking up driving directions to all the places we want to go this weekend.
After I was done with that I decided to check the account that had been declined and that’s when I found that, while I have a zero balance on that account, it also showed the available credit as zero. I pondered this for a while and then called customer service to get more details about it. (Here is where the credit card lessons come into play.) I learned that, back in December I was over limit and missed a couple of payments. I had paid the card off in full in late December. I had not used the card after that so didn’t open any of the statements that arrived after December. I was shocked when I received a phone call from that credit card company in April seeking to collect payment. Upon researching past statements I found that I had been charged an annual membership fee in January, but because I had always carried a balance on that account was blissfully clueless as to when that annual fee was applied every year. So not only did I owe the membership fee, but 3 months worth of late charges as well. As a result of those two events, there is a restriction on my card that can’t be lifted for up to 12 months. I am embarrassed that it happened at all, but it is probably for the best, because the temptation to use that card is now gone. The three lessons I learned from this experience are 1) Don’t go over the maximum limit, 2) Make at least the minimum payments on time, 3) Open mail when it is received (no matter how scary it seems at the time it will mean fewer panic attacks in the future)!
That is not where the story ends though. While I was on the phone with the credit card company Scott came downstairs to let me know that dinner was ready. He then asked me to think carefully about which of my debts is on my mind the most and to let him know after dinner. My very first thought was “All of them” but I knew that wouldn’t help the come up with any solution. As I’ve mentioned before, I’ve made so many bad financial decisions that they seemed to just snowball. Unfortunately, winning the lottery seems out of the question, so a more practical approach is needed. I realized that I have not balanced my checkbook since November, so that is something that I will probably spend time doing while I’m recovering from surgery, if not before. I also seem to struggle most with my credit cards because I keep using them like cash. Scott is confident that he will find a job very soon and crunched some numbers to come up with a tentative plan to help me get out of debt. It won’t be easy by any stretch of the imagination, but if he brings home what he is estimating, even after child support is taken out, it should be an attainable goal.
There is a pocket in my courier bag that I use to place all of my bills when they come in, that way I don’t lose them in the mail mess that seems to consume my kitchen table. After talking with Scott about his plan I decided it would be a good time to write down all of my bills, how much I still owe on all loans and get a handle on what I will have to pay out of my next paycheck. As I was organizing all of the bills I came across an envelope from the phone company, which happens to be a co-op. It was already opened so I knew I had seen it, but was thrilled to find that it was a refund check for a couple hundred dollars!! I remembered receiving the check and knew that it would help out, but for some reason didn’t put it in my purse to deposit right away and stuck it in that bill pocket instead. This is why I firmly believe that everything happens in the order it does for a reason. If I had deposited that check when I first received it, I would have spent it already … so by sticking it in the wrong pocket it was there for me when it would do the most good.
My outlook on life is more positive today than it has been in nearly a month!
