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Lower Interest Rates and My Shopping Habits

August 6th, 2008 at 05:24 pm

So yesterday I called my credit card companies and tried to lower my intetest rates.

Good news first:
Cap1 was lowered to 7.9%! YAY!
Disc will remain at 0% until Sept 19th. Then it goes to 15.99% Frown

Not so good news:
Amx will remain at 15.99%.

My plan of action is to not carry a balance on the cards that are paid off (Amx and Disc). If I pay my entire bill, I can avoid fiance charges.
I will try my best to pay off Cap1 as soon as possible.

Then I will call back at the start of October and ask for a lower rate.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
So as I have revealed, I am a recovering shopaholic. I've also read some interesting blogs which helped me realize that I'm not alone. The difference is that the people I've read about have a stronger willpower than I do.

I will shop on impulse and it doesn't even matter which store! I could be in Barney's New York or Forever21 or the supermarket...I always end up getting way more than I plan to. At first I feel elated and excited about my new outfit or the ingredients for the 14 new recipies I HAVE to try, then guilty I just spent the money that could have gone into my savings. (PS I've stopped kidding myself about the 14 recipies)

So I've avoided large shopping areas and I always take along a frugal friend (They are on the brink of extinction in these parts)when I go shopping.

Biggest hurdle: FRIENDS!
They are a bad influence on my finances.

3 Responses to “Lower Interest Rates and My Shopping Habits”

  1. Carolina Bound Says:

    Facing your problem is more than half the battle. Good luck!

  2. boomeyers Says:

    Great job trying to get those finance charges down! Every little bit helps!
    And just remember, anything that is bought, can be taken right back with a receipt. If you are with a "spendy bad influence" friend and fall off the wagon, just go back and return the item ASAP. You can do it!!

  3. spendinginsocal Says:

    I think the fact that you're here, concerned about it, and blogging shows that you have strong willpower. I'm so bad about the recipe thing too- I used to buy 20 bottles of sauces, spices, cooking supplies, etc. that I would use for one recipe.

    Good call not tempting yourself!

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