Digging Out Of The Hole

        When I look at what I owe I sigh. I have been doing that a lot lately. Such a big hole is what I see. I am determined to dig out of the hole. I can do that and am doing  that a step at a time.
         Each check I write and send to the credit company, at the moment Bank Of  America holds the plastic, is a bit less I will owe next time.
        Yes, the interest is high. Visa has 13.9 and Master Card is around 18. That is just the cards held by Bank of America.
        As long as I have debt on the cards the longer I have no score. What I mean is my score , even through based on my credit history, is based on a debt to cash ratio,
        Let us say on my $10,000 limit card I still have over $10,000 owed. This gives me a very poor debt to cash ratio. In fact I would have more debt than cash.. I have no cash surrender yet. But as I pay it off and the amount owned goes below $10,000 I start to have a little cash surrender to it. The card starts to have a csh to debt ratio . Not much. But I can see  the light between the max of the card and what I owe.
        I still owe. It doesn't put cash in my pocket. It is not becoming good debt. It is still bad debt. Remember good debt increases the cash flow. Bad debt takes from the cash flow. Until I have totally paid off the card it is bad debt.
        But I was talking about score. There is something out there called FICA. This is a score that looks at what you owe on the card and how maxed out it is. It is best to work with debt on the card of  of, let us say, 30% (I am  not a financial planner nor am I a person who majored in finances. I am just a sucker who got talked into maxing my cards.)
       I am digging myself out of the hole.
       Meanwhile I am reading books on the subject of cash flow and wealth. It is my way of retraining my mind to think wealth and not debt. It is not that I am a positive thinker that holds your thoughts manifest reality, or a believer in what is called"the Law Of Abundance" I am sure there is such a law
         I hold that prayer and wise action can slowly bring you out.

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