Hello Finance Fridays – waxing philosophically

I will be getting an extra $760 in the next couple of weeks.

No, I have not been selling any organs on the black market. Nor have I been prostituting myself.

It’s bond money (I believe the term “security deposit” is what you guys use up in the Northern Hemisphere) from the previous apartment.

I’m having a raging internal debate about the money, and if you’ve read this post, you’ll know how weird those can be. The PF blogger in me wants to put ALL of it towards my debt. The suit aficionado says to blow it all on that grey three-piece. The gamer thinks I should blow it all on a new desktop (and more). The car hound thinks I should use it to start a fund to buy a car (which currently does not exist).  The idiot thinks a big night out of drinking.

I can tell you this, it’s not going to be the last one.

I’m actually leaning a lot toward flushing it all into my debt.

But the one thing stopping me, is an argument put forth by the idiot in me. It goes like this (and read the below in a  Beavis and Butthead voice [if any of you are old enough to remember Beavis and Butthead]):

Read the below in their voice...

“Uhh… dude. Like, when are you going to start having fun? I mean seriously. It’s not like you’re getting any younger… You’ve wasted, what, 18 months on paying off debt? And everything shows that you’re not going to be done till the end of this year. You’re letting the best years of your life pass you by, because you’re hell bent on doing something that 90% of people really don’t care about. So take the money and have fun. It only takes a month off your schedule, if you plug the money into your debt. Whats another month? Doooo ittttt! I am Cornholio!”

And it has hit on some truth’s there. I have and am sacrificing a helluva lot to get myself out of this hole I’ve dug. I’ve forsworn a lot of socialising, simply because I can’t afford it. I don’t even remember the last time I bought clothes that wasn’t work related. I don’t have a car. I haven’t bought any new pieces of furniture for the new place. I’ve cut down drastically on the little things, like snacks, eating out, weekly wines.

And now I have to ask myself the question is it worth it?

I mean, essentially yes, I am setting myself up for a better future. Less stress over money. Something I really should’ve started doing a decade ago.

But what if I die tomorrow? I doubt the last thing to go through my head will be “God, I wish I had paid off my debt sooner.”

Should I forego paying off my debt as speedily as possible, for the opportunity to enjoy life’s pleasures? Or do I hold off on life’s pleasure just that little bit longer so as I can have a debt free life more quickly?

I guess it’s the flip side of the credit card. Should  you use a credit card now for quick access to your wants and needs, only to have the headache of the purchase show up down the line in your monthly statement?

I know that a healthy balance, would probably be the best solution, but to me (and this is merely my personal view because of my personal circumstances. I actually applaud those that can seem to find that balance) that seems a solution where no one wins. I won’t be able to afford the things I really want in any sort of immediate time frame, and I will be living with debt hanging over my head for a significantly longer period of time. What’s the point of doing that???

So, like anyone who has created a blog, talked about his extremely weird thought-processes, inserted a pole-dancing rabbit gif into a post, and has confessed about his crotch being scalded by hot coffee, I’m putting it to a vote.

This will be a two-party system. Write-in candidates will not be accepted. There are only two choices:

a) Use the money to pay off debt

b) Use the money for fun stuff (for a relative value of “fun”)



12 responses to “Hello Finance Fridays – waxing philosophically

  1. a) Use the money to pay off debt

    *insert crazed PF mania look here*

    The bevis and butthead argument is what keeps so many people from getting out of debt in the first place. You’re better than that 😉

  2. Life’s pleasures don’t all have a price tag attached.
    Pay down the debt, get it off your back as soon as possible so you can stand tall and beautiful.

  3. I remember B&B. Thanks for the flashback. But put it towards debt. Fine, put $650 towards debt/savings and $70 towards a nice dinner or drinks or something you want. A reward doesn’t have to be blowing $700 drinking or something silly, and using it to acquire new debt doesn’t make much sense. You don’t need to be debt free to have fun. If you’re waiting until you are debt free to have fun, well, you may be doing something wrong. Splurge a bit, but keep at it with your debt repayment goal. That extra month the voice in your head thinks is not significant could make a lot of difference under strenuous circumstances.

    • You know I was thinking something similar, but instead of dinner I buy a case of beer for me to celebrate with. And yes waiting until I’m debt free until I have fun, well until I have lots of fun. I have sporadic moments of fun here and there (after weeks of saving) but having fun is what caused this whole debt to begin with, so maybe its best if I keep a lid on that.

  4. Buy 1 new game for the PS3 and put the rest toward debt.

  5. Pay off the debt!! Absolutely, no question. The more you can pay off now, the better. Plus, that’s one more month that you won’t have to worry about it.

    • Aye Aye Miss Carly. I know youre right, I know everyone who gave me this advice is right. *breath* okay… 11 more months of scrimping and saving to go… *sigh* I’m going to need a holiday after I do this debt thing.

  6. Hmmm

    A long time ago I went through a similar sort of debate. I was frustrated with my lack of progress. And someone very wise told me the key was to figure out WHY I was doing this whole debt thing. Not why everyone else was doing it but why I was doing it.

    At first, I didn’t have an answer. That bugged the shit out of me. I mean I didn’t have an answer outside of “to be debt-free duh”. Why be debt-free?

    If you want to be debt-free because you feel it’s something you SHOULD do, forget it. Go back to paying the minimums and just focus on not accruing new debt.

    When you really figure out why YOU want to pay off this debt so badly, I think you’ll have a much easier time sticking to that goal and Beavis and Butthead will leave you alone way more often. As will the guilt that comes with things that are not debt repayment related.

    I have no idea if I made sense. But there you go.

    • That may have been the best advice I’ve received in the last 10 years (oh except for the one when someone said “Don’t pull a monkey’s tail when he’s driving the plane” that’s good advice there kids. Remember it).


      You’re right I have absolutely no idea WHY I want to get out of debt…

      This calls for some deep pondering and a post… Thanks MSM!

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