Almost done, but...
By cutepenguin
@cutepenguin (6431)
Canada
February 21, 2013 12:15pm CST
So, we still have one debt left, and we have enough money to pay it off, but because it's a small payment each month, we've been putting it off.
First, we liked keeping the money in our accounts. Then, we put the money into a retirement savings account. So now we have to wait until our tax return comes to pay it off.
Do you ever find yourself losing focus? It just doesn't feel as urgent as it did when we started.
6 responses
@tiffnkeat (1673)
• Singapore
21 Feb 13
I would weigh the benefit of keeping the money to invest to get better returns versus returning money to repay the debt. Is there any interest payment to keep the debt? If the investment of the money at hand can be greater, then keep the money. Otherwise, repay the debt.
It does also help to have some money for rainy days.
Why feel urgent to pay if you can wait. Money is our hands is better than in somebody elses' hands. Don't you agree?
@cutepenguin (6431)
• Canada
25 Feb 13
I do like to hold onto my money, but owing people money isn't pleasant either.
@peavey (16936)
• United States
21 Feb 13
Yeah, I think it happens when we know we can pay off a bill. We don't worry about it and it becomes unimportant if we know we have the money to do it. Doesn't necessarily mean we will do it, just that we have the money. I think it's human nature to feel secure about things like that as long as we know we can deal with them.
@cutepenguin (6431)
• Canada
21 Feb 13
Yes, that makes sense. It's just odd to have spent so long trying to get out of debt and now that we can, it doesn't to matter as much.
@dpk262006 (58678)
• Delhi, India
22 Feb 13
I think one should not lose focus as far as paying debt is concerned. Debts needed to be cleared at the earliest, else they could be cause of concern and stress.
I do not like to keep any debt pending and the moment they are due or am in position to pay, I clear those debts.
@eurekafemme (5876)
• Philippines
22 Feb 13
Hi there.:-)
I'm not sure but I'm not just comfortable thinking and knowing that I have debts. :-) It feels like I don't have the right to splurge on anything or save the money that I don't own, I don't own because i should be paying that to whom I am indebted with.
But, maybe, it is still wise to keep a little in the bank, for the 'rainy days' of what you have but be sure to also make an effort to lower the amount of your monetary obligations.
@Raine38 (12391)
• United States
21 Feb 13
When it comes to money matters -mortgage, credit card bills, utilities- me and my husband rarely lose focus. I don't know if it has something to do with be being an accountant or my husband being good in personal finance, but as much as possible we will always settle first and provide funds for those things before we even start to think of our own wants. We are also very active in talking to our banker and we are updated when it comes to new payment schemes and ways on how we can lower our interest or payments and at the same time maximize our savings.
@blackrusty (3519)
• Mexico
22 Feb 13
we all tend to loss sight of our bills when they are just so small I forget to pay something every month but if we continue to follow this we are going to hurt our self in the long run with a huge bill
