Suck it, Credit Card Companies!

I just cancelled both my Capital One and my Target Visa cards today. Their combined credit limit was $7,500. That's keeping me out of trouble and giving me less accounts to keep track of. I've had the Capital One the longest, since 2002. I got it when I was 20, a junior in college. Honestly, I used it a ton over the years, loading it up and paying it off over and over again. (Well, it probably didn't have a zero balance too often actually. So more loading it up then paying it off.) It feels good to close the account, and close that chapter of having credit card debt in my life. Farewell, Capital One. And good riddance.

The Target card I got because I thought it was pretty. I kid you not. I was so lame financially. I also got Target coupons for using it, but really it was never worth it. I regretted opening it right away, and this one never had a huge balance on it. I didn't use it super often. Although I will say they were much more persistent in keeping me...she really tried to talk me into it, but I resisted. :)

I asked both companies to send a letter confirming that the accounts are closed. It feels good to have that taken care of!

So, the only card I have open now is my Credit Union visa card. I know some would say I should cancel that one as soon as I pay it off this week, but I do like having one credit card around for a dire emergency. Yes, that's what my emergency fund is for...but you never know and having the card makes me feel more secure. I have broken myself of using the card regularly, so I feel good about having it.

Technology Question

So today I was talking on the phone with the bf about technology. He's sort of an electronics junkie...he likes to buy himself new toys. But, he justifies explains he tries things out and then resells them on Amazon, so he doesn't actually spend that much. He says he often gets pretty close to what he paid by doing this.

His finances are none of my business (not yet anyway), but it led to us talking about how I want a new ipod (all I have is a shuffle and I'd love one that can hold more of my music), but that I am going to wait until my laptop dies and then hope that Apple is offering their free ipod deal.

He pointed out that they only offer that at back-to-school time (now) and said, "Why don't you sell your laptop now and use that money towards a new computer and the free ipod?"

At first I scoffed. My plan is to run my current laptop into the ground and then get a new one only when I have to. This seems reasonable to me in that it's not running out and buying something new when what I have is functioning. But, he made a valid point that if I do that, I'll get no money for my laptop and will have no guarantee that I'll get the ipod thrown in.

Huh.

He said I can probably get $400-$500 for my laptop online (I'll have to do more research on that), which I could put toward a new computer. I am still leaning way towards my original plan. But, he makes a valid point. And I could use my summer school money in September to buy a laptop debt free. Or I can use that money to pay two extra payments on my car. So I'm going for gazelle-like intensity toward my debt and praying that my laptop makes it to next summer.

But, what do you think of this point? Is it better to sell my laptop while it still works or run it into the ground, knowing I got all the use out of it that I could?

Credit Card Mish-Mash

So I paid off my Capital One card last month, which was lovely. One less card to worry about! It was nice not having to pay that bill in July.

Except. Um. Apparently there was a lingering interest charge of $3.43 sitting there. The only reason I check it is that Ella commented on my last post suggesting I check my statements for the next few months for that very issue. (Thanks Ella! I am loving your new PF blog too!) Unfortunately, I incurred a $15 late fee for not paying my balance. Fortunately, I called Capital One, nicely explained what happened, and asked if they would remove the late fee. They did it, no questions asked. So, there are two lessons here-one, check your statements even after you pay off the card. Two, it never hurts to ask. :)

Which brings me to my last question: have any of you ever cancelled a credit card? I'd like to cancel my Capital One card and just keep the card associated with my credit union open. I don't plan to use it unless a dire situation arises, but that one is linked to my checking and car loan, so I see that balance often. I know people say not to close accounts, but I'm wondering how much damage to my credit it would do to just close the Capital One card once and for all. Thoughts from those more knowledgeable than me?

I am ready for August...

...for many reasons. My trip to Portland. The end of summer school. Going to visit my sister in Utah. Getting to start over on my grocery, gas, and entertainment budget. Clothes shopping(!!)

But honestly, it's mostly because my credit card debt will be history as of August 4th. As in done. Finished. No more.

I can't wait. I am so excited not to have that hanging over my head and to be able to tackle my car loan with intensity (Gazelle-like or otherwise). I'm counting down the days and thinking about making the payment online.

Hurry, August, hurry!

To Buy List

I made a rule that I wasn't allowed to go clothes shopping until my credit cards were paid off...these are the only exceptions I have made since last August:

*1 pair of tights (it was December and I wanted to wear boots and a dress on New Year's Eve)

*1 bra-I decided to buy this during the semi-annual sale this month since it was on sale for $15.99. I'll buy a few more next month, but I figured it was worth breaking my rule in order to get the sale price.

*1 shirt-I bought a shirt yesterday to wear to the Dodger game. It's blue and white striped and super fun and summery. It was $9.95 at H&M. I shouldn't have bought it, but I am in love with it if that helps.

And that's it! Victoria's Secret coupons have kept me stocked in free underwear, I received a Marshall's gift card at Christmas that I used to buy a dress and a pair of dress shoes, but other than that I haven't updated my wardrobe in a year. 

Needless to say, I have a shopping list. 

In fact, here it is: 

*Black skirt-I just need a basic one, straight, plain and knee length for work.

*Black sandals-my leather flip-flops are in a sorry state. I have had them for two summers and they are on their last...legs? Toes? Heels? You get my drift. 

*Black Flats-These were on my list but I was able to get them for free thanks to Me in Millions. :)

*White tanks-I need to replace my lacy camisole that I wear under many of my shirts...it's not really white anymore. I also need a plain white tank for the same reason.

*White cardigan-I had to ditch my old one because it was yellowish under the arms (yes, I know that's charming, but it's the truth).

*2-3 bras-I need to replace some of my older ones. This is a NEED, not a want.

*Jeans-I want a pair of straight leg jeans, sorta skinny. I have a friend who works for Paige Premium Denim as a designer who said she can get me a pair for $50, which I am planning on taking her up on. AWESOME.

*A few basic jewelry pieces-a necklace, a pair of earrings or two, and sometime in the future I'd like a new watch. But that is something I'll save up for in the months to come.

*Dresses-I'd like a few new dresses that I can wear for both work and fun...this will be dependent on finding some that I like, but dresses are my favorite thing in the world.

*Lavender nail polish-I've wanted this for months, but put it off until my debt is paid off.

*Stila eye shadow-I'm almost out of my staple color that I like to swipe on my eyes when I am too lazy to really do my eye makeup. But it's shimmery and lovely and I'd like to replace it.

I am going to look for most of these items from Marshall's, Ross, and Nordstrom Rack, and should be able to get a reasonably good deal that way. I also want to start gathering coupons for The Limited, Express, and a few other stores that I might hit up in my hunt for these items.

Obviously, I will need to budget more for these items...my plan is to use my summer school money to pay off my debt and then see what's left to add to my shopping fund. Normally I'll budget between $40 and $60 per month for shopping, but I am planning to budget between four and five hundred dollars to get these items. I'll still have more summer school money coming in September, but I am hoping to use almost all of that to start paying ahead on my car payments. I feel good about this amount and the items on my list...we'll see how I do next month. The anticipation of being able to shop is making my drool. 

July is out of control...

Well, actually I am out of control. But it feels better to blame July.

It's only the 20th and I have already spent all my envelope system money (used for eating out)...plus another 33 bucks. And realistically I'm going to spend some more in the next 14 days (I don't get paid 'til August 4th).

I am ten bucks over on my grocery budget already. This one, I think I can make work for the next two weeks...but it'll be close and might involve some, shall we say, creative, meal planning.

Luckily, I always leave a cushion in my budget for unexpected expenses. So I'm still okay and have a little more breathing room. But it's a yucky feeling to be off the budget. Most of it is laziness...too much of my eating out money got spent on coffee and breakfast when I didn't feel like making it. The curse of summer school, I guess. I've been really good for months, and I am SO close to being out of credit card debt-I can't let it fall apart now!

It's my lucky day!

Last week I was reading Me in Millions, the personal finance blog of a 20-something in Virginia. I love that I read PF blogs around the country and that we "know" each other, even though none of us really do. :) Her blog is great and I recommend it! Anyway, she had her first giveaway, a $60 gift certificate to CSN.com, which sells just about everything. I entered and (if you haven't guessed), I won!! I'm so excited!

I actually planned on buying a pair of Aerosole wedge sandals, but upon further research I ended up with these Naturalizer black flats:

I love Naturalizer shoes-so comfortable, but also cute and really well made. Black flats are on my to buy list...my old pair are falling apart and these are a staple of my work wardrobe. They were $57.40, and since the gift card was one time use, I felt good about using almost the whole amount, but not spending any of my own money. I haven't shopped since last August (minus a gift card at Christmas), so it was fun to browse through the site and get to pick out something for free! Plus, I am happy with the purchase-cute and functional...now when I finally get out of credit card debt I will have more money to buy other things that I want/need since the black flats can be crossed off the list. Hurray! And thanks again to Me in Millions! :)