I Just Added More Debt

Day 27| Paid: $2406.77 | Remaining Debt: $61450.11

Yes, I just added more debt….

My Payday Loan 2 gave me the option to refinance. I realized that my gap between my debt payments, other expenses, and my income wasn’t completely closed and I wouldn’t be able to pay all my bills this month. So, I refinanced that loan for another $300.

It is a bandaid, but a poisonous one.

If I had any other short term options I would have take it. But I didn’t. I needed the cash, this week, and it was a quick an easy solution.

This is exactly how I got into this situation in the first place, and this is prime example of how I, and thousands of others, get trapped into the debt cycle, especially the payday debt cycle.

It didn’t help that I havne’t been able to Uber all week. I may have overestimated my ability to uber after work on weekdays. Part of it I am attributing to working extra hard this week to minimize the effect of my absence next week. Nothing like trying to do almost 2 weeks worth of work in one week. I always felt that the stress and extra work before and after a vacation almost defeats the purpose of the vacation.

I am so frustrated with myself right now. I am heading backwards from my goal.

Fortunately I am on vacation next week. I need the time away from work, and from a hyper focus on my finances. Maybe I should have cancelled the vacation, but now it has all been paid for. The only expense during the week will be gas and food, and I can keep the food expense to a minimum.

I am hoping the time away will give me some time to reflect, and maybe adjust my plan, and write a few more insightful posts. Hopefully it will give me renewed energy and motivation to really tackle this goal.

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