Money, Pinterest, and Tallulah in a flip

Guess who got a new app for her iPhone?

 

 It has old photos and then you put your own face in there.

Apps. The new way to find yourself looking up seven hours later, going, wait, I'm supposed to be just be HOME FOR LUNCH! Crap!

I always kind of wanted my hair to do that wavy '40s thing. It's almost a mullet.

Anyway. Today I am actually asking for you advice, but JUST ABOUT THIS, so for those of you who cannot wait to get back on and tell me about how repugnant my personality is, forget it.

Remember a few weeks back, when I killed myself to edit a statistics textbook? I got paid for it, and now I can:

1. Pay off a credit card, thereby cutting my credit card debt in half, which has kind of racked up since Marvin left.
2. Go shop and have fun, which I haven't gotten to do since Marvin left, as I have been relatively destitute because I pay for everything myself now.
3. Pay a big amount on a credit card bill (or pay off all of one that has only a small total due) (I have three altogether: my vet credit card, the credit card I had to open when my computer broke, and my credit card I've had forever) and go shopping just a little.

What would you do? Or maybe the better Q would be, what would a sensible person do?

I must go to work now and pray that there is nothing to do all day, because not only do I want to play with my hair app, somehow I said, Oh, maybe I'll sign up for Pinterest, and WHO WANTS TO DO NOTHING BUT PIN INTERESTINGLY ALL DAY NOW? Holy cats.

Okay, so advice, please. Someone tell me to blow it all on shopping, because my wardrobe kind of looks like Door Number Three up there.

Comments

[HB - I've been watching too much Suzy Orman but I suspect she is right..]

Pay yourself first - put money in savings, even if it's only $50 - do that every pay day. Pay a good chunk of the highest credit card & then buy your self something nice, clothes, shoes, whatever on sale.

[HB - I've been watching too much Suzy Orman but I suspect she is right..]

Meant to say pay the highest interest credit card. I was too distracted with the photos - and I am so going to load that app on my phone.

[Jessica]

Obviously #1 would be "best," but I would do #3. Pick the card with the highest interest to pay down.

[Mrs. Oh]

Pay some debt down, blow some and save some. I heard somewhere that it is never a good idea to pay your credit debt off completely as you are just going to charge again on it and that carrying a load actually keeps you from spending. If you have three cards I would try to funnel them into ONE account - even if it is a new one - and then keep the rest at zero balances. They also say not to close out your cards once you pay them off as it negatively effects your credit score. How much of that all is true is beyond me.

[Texas Kari who thinks Tallulah in a flip is GOLD!]

Financial advice - not quite as riveting as firefighters.

Blow $100. But not on blow.

All the rest of it goes to debt. Pay off the lowest balance first. It feels good to totally get rid of a bill. Then pay the one with next lowest balance. THEN when you get paid big bucks for the next book, you can finish paying that one and you'll have two cards you can get rid of and work on the third! Who knew statistics was the way to financial independence!

[Kate]

Look at my pinterest! I think you can search it by email.

Totally agree with the blow $100, save some and pay some to credit.

I'm jealous, I'm always behind on bills and whenever I've gotten a large sum I always blow it. Don't be like me.

[The Furry Godmother]

Yeah. Number three. Buy yourself something you really want (Hi Dick Whitman going to Anthropology with you!) and pay off your debt with the rest. That way it doesn't feel punitive. Treat the small shopping as a reward for being responsible.

And the pics of Tallu are making me want to get an iPhone just to get that app.

[Anita (can't stop staring at those shots!)]

Omg, you wrote numerically!

I agree about paying down the highest interest card. I think #3, but you need to sock some away and then many buy something small for yourself.

Pinterest is sort of like the flu. It hits you really hard, it starts to wane off and then BAM, it's back again.

[nancy is excited to find June too is afeard of her dead neighbor rainey]

June. Rocking the 80's glamour shot one day at a time. Seriously, though- pay the bills. BUT...first, buy yourself some sort of fancy schmancy dinner. Then pay the bills. oh but first, buy Lu and Edz something. Then pay the bills. Oh but first, fill up your gas tank. Then pay the bills... you can now see why I have nothing in savings.

[DB in MD]

Find a great sale and treat yourself to a few new things, then put the rest towards credit card debt starting with the lowest balance. It's a psychological thing. You'll feel more of an accomplishment seeing at least one credit card with a zero balance.

[Target Steve. Who married beth even though her dowry was a 1982 AMC Spirit.]

This feels a lot like whenever my boss asks me for my opinion on a personnel move, when he already knows what he is going to do and nothing I say is going to change his mind.

What causes you the most stress, having debt, no savings, no new clothes, or not having an adequate dowry for your next suitor.

Pay down your stress.

[nancy is impressed with Target Steve and his rational self rainey]

Dear Target Steve, Please speak to your twin brother, Captain Obvious about posting under your name. Although your comments are funny- especially your name and the AMC thing. Dowry. Dear lord. Damn, he is right though. Sheesh.

[Laurie]

I agree with TS, pay down your stress. However, if you choose to pay down a credit card will you then feel sad you have nothing to just blow and charge again on that card only to have the charge plus interest AGAIN to pay. Screw it, pay ahead on your property tax.

[Jan]

I'm with everyone else. Pay some bills, treat yourself, too. Determine an amount you feel comfortable spending. Don't exceed it and once you decide, allow yourself to enjoy it and not feel guilty. Then I would pay off smallest one, and if there is still money left, pay that toward the next smallest amount. You can then pay the amount you've been paying every month to the next one on your list. After that one is paid off, you can send all of what you've been paying to that card to the biggest one and get it paid off in no time.
I hate to pay monthly to my cards. I hate having it hang over me. If you treat yourself a little but also pay down your debt, this time next year you'll have all the money you've been paying to credit cats to shop, shop, shop!

[Carole from Raleigh who would like to see some sunshine]

I think you should pay off the card that you can totally pay off. Then you will feel a sense of accomplishment from having gotten rid of an entire account.Save the rest for buying Latisse. Or going to buy midcentury modern things from cute store guy.
What did you think of Portia's wedding? I thought it was kind of funny that she and her friend were doing the wine labels and acting all...whew! this is hard work We have to stick 100 labels. A million $ wedding and your DYIing? I'm glad the chi chi chi guy will be gone now.

[original joann]

What Target Steve said.

Get rid of the stress.

I love Lu's graduation shot. My dogs are going to be jealous. Or not. They're only jealous of other dogs when those dogs get to roll in poop because this mom never lets them get to have any fun.

I have not done Pinterest because I am very afraid of the time suck. And I have enough time sucks in my life. Sadly, none of those time sucks are firemen.

[Kathe says put on your big girl panties and be responsible. It'll feel good.]

Oh, I love pay down your stress Target Steve. You could use that saying in so many areas of your life actually.

June, think about your next emergency (there always is one) and pay off a card, put some in savings and if you need a new frock or two consider a thrift store. People of means get rid of a lot of nice clothing. I mean NICE clothing. You could stretch a little bit of money into a few new-to-you outfits.

[Lisa]

"Pay down your stress" sounds like awesome advice. Especially coming from a man who could have said "spend it all at Target!"

You and Talu look so good with your new 'dos!

[another M]

Pay yourself first -meaning put a chunk away in savings.

Pay off a chunk to your credit card or cards -put the biggest amount on the one with the highest interest.

Buy yourself something -you have to live.

[Pal from MA]

I would pay off a good amount on a credit card and then go buy something sparkly for myself. (Most recent purchase was a set of GORGEOUS blue topaz earrings! Only $70!!! And I bought them at the jewelry store that gave me $$$ for my platinum wedding band...I got the earrings while the owner of the store was weighing my big-ass ring!! $ for me and $ for them!! Yaay!)

[Kimber]

So, I'm the only one who would blow it all shopping?

[Shannon]

Pay off the total of the low card, take $100ish (got a sparkly item in mind for $120? take $120) for blow-shopping and put the rest on the big card. Best of both worlds and responsible - you get rid of one item on your credit report, you get to have a little fun and a big payment on a large total is a great way to kick off the fiscal year.

[Mrs Blue, who just jusn't do debt intentionally anymore...but then I'm not you, you]

Pay down the darn card sister! You may not think it is "fun" but it is the sensible thing to do and that was the Q. Just do it!

[Mrs Blue, who just jusn't do debt intentionally anymore...but then I'm not you, you]

Pay down the darn card sister! You may not think it is "fun" but it is the sensible thing to do and that was the Q. Just do it!

[Miss Thrifty]

I am heartened to be asked for advice about something I know something about (I'M DEBT FREE and have been for decades; hope that doesn't make *my* personality too repugnant?), especially after... Yesterday... Pay off the credit card and buy yourself just a LITTLE treat; something special to eat or drink or anything under $10-25. Better yet, hit a Goodwill and get a bigger bang for your buck (just don't become a hoarder, although that would make for an interesting blog). Believe it or not, one can -- after much practice -- get the same thrill from saving or paying off debt as most people do from shopping. Heck, I even get a thrill from checking out a new library book! But you learned all this in "Bye-Bye, Buy." Starbuck's Grande?

[Miss Thrifty]

Oh, and... The photos? FUNNY!!!

[annie]

Oh, holy crap I love that Pinterest board! It's gorgeous. I'm in Target a lot and they have this new line of stuff in their home section. Every time I see it I think of you. It's all pretty vases and pink jewelry dishes and pink ceramic boxes and aqua lampshades. I always want to pick up something and send it to you.

I say go with option 3. You get a little responsibility in with some fun, so it's win-win.

[MrsHBLjr--totally chanelling Dave Ramsey here]

10% in savings
10% to charity
20%ish to spend
the rest to your smallest debt

Make your savings goal $1000 for emergencies. Then when you get that, make it 3 months' worth of paychecks. Then make it 6 months' worth. So you don't have to use credit to survive if you're jobless.

Key: when you pay off your smallest debt, take that amount and add it to what you're paying on the next larger debt. Keep paying minimums on the rest. Then as you pay the next larger off, add those 2 amounts to the next one up. And keep going. It's called "Debt Snowball". Before you know it, you've taken control of your debt instead of it controlling you.

[MrsHBLjr--jealous of your board!]

BTW, I'm now following you on the Pintrest rabbit hole. FUN!!!!

[Shannon]

Charity? Give how life is going, that's the shopping part...self-charity.

[Jeanie]

A third for savings, a third for credit card payment, and a third for June to have a good time with. OR, depending on how large the check is and how much you owe, pay off one card and go shopping with the rest of the money.

I, too, would like to get an iphone just so I can play with that app. Priceless. I think my German shorthair pointer would look mahhhvelous in one of those 'dos.

[Mel]

I'm with the "Pay down some of the lowest debt/save some/blow $100" camp.

That's the responsible thing.

The fun part of me says buy a yacht.

[dlou-not-duffylou]

I'm with your MrsHBLjr...buy yourself a "reward", put $1000 in a savings for "emergency" so you don't feel the need to charge again. Pay off the smallest card and work through them...it's a motivator to pay one off completely rather than a little here and there, too much like spinning in circles.

And MrsHBLjr...in our house we call him "Damn" Ramsey.

[Christine]

1/3 to debt, 1/3 to savings, 1/3 to shopping

[TX Peach]

Did Jan just say "all the money you've been paying to credit CATS"?!?!? Ha---that made me laugh!

I think #3 is the obvious choice. You certainly deserve to treat yourself after the all the work you put in to completing that freelance job. But, certainly, getting rid of some debt is a feel good move, too. Pay off the stress! I think that's the new "Namaste, Bitches!"

And, more importantly, how was bowling night with Poochie and her Hello Kitty bowling ball?!?!?!

[Alice]

YES to Target Steve's suggestion - pay down the stress. Were I faced with this horrible problem, I'd take $50 to do something utterly frivolous that I don't usually let myself do (shopping is fun, but it doesn't pack the indulgent wallop of a massage for me). Then put the rest on the highest interest card.

[Carolyn]

The first photo is like a character on a twilight episode, where everyone was beautiful. Have a ball and spend.

[Amish Annie/Paul's next couch is gonna be an orange mid century modern number, I can taste it. It's saying AAP buy me, buy me, no harm can come from that, I'm pretty and sit nice. Again, I'm a bad advice-giver]

I used to get new furniture every three years. Now I don't. I rationalized it because I always paid cash. Furniture stores are like crack to me. In fact, all I want to do right now is browse a store, smell the air, caress all the fabrics, visualize the completed looks and arrange for delivery of course.

Yeah so I'm the last person to give advice. But I will say that I look at my six year old furniture every day and am actualy proud of being fiscally responsible three years ago and I don't regret it much.

[sandra, pinterest addict]

I am struggling with debt myself, so I say a little treat and the rest to pay down debt. I would not start savings until you have the cards paid off, I think Suze whatshername said that.
I am horribly addicted to Pinterest, I went to a Pinterest party in December, everyone had to make something crafty and bring something to eat or drink and then we did a "Chinese Christmas" or "White Christmas" or whatever it is called where you get to choose a gift out of the pile and then either steal one or whatever. I was so embarrased because my craft was so crappy and chose my own gift. I could not believe the things everyone had made!!
I am following June and she is following me and I am way way to excited and thrilled about that.

[Tee, Hubby and I now facilitators for FPU classes. Read "Total Money Makeover"]

Those photos were da bomb. Hilarious.

Pay off the credit card with the smallest balance. Gone. Cut up thet card. DO NOT close the account. Pay as much as possible on the next smallest balance. Cut up the card. When you dump debt you are giving yourself a nice raise. Keep one card that has the lowest interest rate, but put it in the freezer or in the attic, some place that is not readily available. Again, DO NOT close the accounts, it will negatively affect your credit rating. Why I don't know, but it does.

Reward yourself with a shopping trip with a specific amount in cash. There are lots of sales right now, so your reward money will buy more. You worked really hard for this money, while you were so sick.

Target Steve is right on point, pay down the stress. Debt is sooooo stressful. My husband and I went through Dave Ramsey's Financial Peace University (FPU) class and learned so much. It was hard work, but being out of debt is WONDERFUL.

[The Zadge Nothing you buy today will you remember 5 years from now, but you will feel the debt. Put it all to the credit card.]

WHY AREN'T THERE ANY OLD HAIR PHOTOS OF EDSEL??????

[Mary Lou]

I'll go with #3, but I love Target Steve's pay down your stress idea too!
You'll feel better after paying off a good amount AND will be able to pay with CASH on the shopping trip-you still need to live and enjoy life-
Am so in that credit card boat with you, June as I've had major unexpected expenses in the last couple of years-that's me, paddling furiously on the other side-
No doubt you'll have more freelance work so you'll be able to steadily pay it off AND still have a life!
Love the photos and if I could afford an iPhone I'd be going app crazy!
Also checked out Pinterest the other day, after someone mentioned it in the comments-verrry interesting-

[PJ must immediately stampede over to Pinterest and join Soul Sister and June in time-suck world.]

blah blah blah financial advice. None from me because I'm just totally in love with June after looking at her Pinterest page and have pink and white roses in my eyes.

[ann @ my life as prose.]

i say #3. buy a little something fun and use the rest to pay down the debt.

also, are you going to put up a link so we can follow you on pinterest??

[Just Paula.]

Dave Fucking Ramsey!! Everywhere I go! BAH.

[Eli]

Tough one, when we don't know whether you have a 3-month or 6-month emergency fund, but I'd go with option 4 (basically option 3, with a little $$ put into savings). Paying interest is just a waste of money, and I should know.

[Letha]

Pay down (or off) the high interest card. That kills me.
Have you thought about the income tax thing? Seems like you should get a refund. That could be your frivolous/deserved spend.

Lu makes a lovely, aloof looking star..

[Amara@GirlinaWhirl]

I gotta throw in a "HILARIOUS!" for that post yesterday with the firemen. I may have to bookmark that one when for when I'm feeling sad. I like Target Steve's comment too --although I'm a big Dave F*ing Ramsey fan too...

[Kit, in the 'boro]

oh yuck, I hate debt, so I would try to pay off as much as possible....but i like the idea to save $100 to blow on something fun....you always look good.....and pinterest, omg....way too much time spent there.....love it love it love it....spent 4 hours last night alone! losing sleep over that invention...what will they think of next?

[Kit, in the 'boro]

i meant to say last night, alone..... but i was also alone last night....thank goodness.....that way I can play on pinterest and no one can stop me......

[June Gardens]

I like how you guys think I know which credit card has the highest interest.

[Juice]

I'd go with #3 but make sure you establish your spending amount in advance! Maybe even just bring cash with you so that you aren't tempted to put a purchase back on the ding dang credit card. (It's proven that people spend more money using a credit card than they do using cash. Use that fact to your advantage.)

[dancer]

mmm...kay...i think every option has been covered. i think target steve has the best bottom line. right now i'm freaked over how low my savings account is. (am i suppose to end a sentence like that? ugh)

if you don't have any stress to pay down i would think that your freelance jobs are not a part of your budget that you work from. if it's not and your "job" covers the budget then i say

blow that beyoootch! woot!

and pinterest? aaaadicccktive.

[June Gardens]

Dude. I DID put up a link.

[Sadie knows you already have a plan.]

I'd vote with paying off one bill completely and set aside a finite amount to buy something on sale to add to your wardrobe. Adding some to a savings account for emergencies is also a wise idea.

The Zadge is right. The novelty of new stuff wears off quickly while the big-assed debt only grows.

[Lenette]

Since you asked: As much as it hurts, CRUSH THE CARD. I killed my cc debt in NOV and it's so liberating.

[Siren]

Didn't you recently say something about pasting dollar bills to your naked self and then parading around somewhere? I think you should do that.

[Suzanne]

Everyone always says not to close out accounts because it adversely affects your credit rating. I've read that too, but they never address the issue that now you have available credit that you probably won't check on often that could be subject to identity theft.

[Pamela Soul Sister #2]

Lots of sound advice above so I will just add my personal experience of late: I recently came into some extra cash and I put every dime of it towards debt (credit cards, orthodontist bills and insurance payments). I paid off the smaller amounts in total while paying down the larger ones. I did not buy myself anything, but I don't really NEED anything either. I am not one to allow myself to feel the least bit deprived, but starting the new year on this kind of fiscal note feel excellent.

Pinterest is what I do before bed when I just want to look at pretty things, make some plans and dream a little. No heavy thinking required...good way to end the day. I'm just getting started and already have 29 Boards and over 800 pins! Love it!

[Laurie]

I like how you guys think I know which credit card has the highest interest. <---June, giving blondes a bad name since 2012.

[Letha]

Ha, Siren!
Also, if you invest the money in one of those pyramid deals, you could make enough money to pay off everything, shop away, and quit your job to blog.

[Angie]

Get yourself one great treat...or a certain amount of money and as many treats as you can get for that amount. You don't want to feel deprived--it's like dieting--if you're deprived you eventually binge.
Then use the rest for the highest interest credit card. Only put some into savings if your savings account pays a higher interest rate than your credit card charges...otherwise you are still losing overall.

[June Gardens]

Fortunately, I am not remotely blond, in real life or even in fake life any longer.

[Shannon]

I vote #3.

And, good God, that hair! I am not sure what is worse: the spiral brunette perm or that flipped white collar! Blergh.

[Laurie]

Love the new color and it makes your eyes pop.

[Pam]

Pay off the stress. You deserve to treat yourself to something new then put put the rest on debt. June being responsible since 2012

[Laurie]

But not in a hyperthyroid way.

[Debt payer]

Pay off the debt. You'll never get past the crazy stress and the emergencies if you don't get that under control.

[Letha]

This is like Spending June's Money SVU.

[Scraps]

Sense says to do #1 first (and savings? earning 2%--if that!--per year is trumped by the 20% you're paying on that credit card debt), though I know the temptation of door #2 all too well.

Since you can pay off 1 card and still have some to play with, I vote for Door #3 and a wardrobe infusion, it's the best of both worlds.

[Target Steve. I just hope she lets me retire someday.]

I kinda figured talking to June about financial advice would sound very similar to talkling to her about the Super Bowl. Blah, dee blah, blah.

Beth handles our money. I have no idea what is going on.

[Beverly]

I don't know how you're going to decide what to do after getting so many opinions. I'm just going to go drool over your pinterest page and not add any additional financial advice.

[Sadie - January must be Firefighters month.]

Siren has a new post about firemen coming to her house.

[Sadie - Now if I can just figure out how to get June, June, June off of my computer screen. Did you have to use a Sharpie?]

Thanks for sharing your pinterest page. Gorgeous! It certainly has June written all over it.

[June Gardens]

Oh! I have mint.com, so I went on there, and two of my cards have zero interest, because it was one of those first-year-no-interest things, so thats good. The other is 18%. That was easy.

[Lisa Pie who should practice what she preaches]

HB up there, the very first comment was exactly on point.

You pay yourself some savings FIRST.
Then you pay to your highest interest CC.
Then you take the remaining play money and go to the thrift/vintage stores and have a ball.

People always forget to pay themselves first, that's why Suze always says it 5 bazillion times, so that it will sink in.

[twelvedaysold]

Personally I would do #1 because having a balance on my credit card annoys the snot out of me. I hate paying interest. But if you're itchin' for some cool new stuff, I say buy some of it, but still throw some money a the credit card.

[Anita]

If you're not paying it off you need to call the 18% people and ask them to lower your rate. That's pretty freakin high.

"in a hyperthyroid way" killed me!

[June Gardens]

In a hyperthyroid way similarly killed me. Or simlurlee, as Edsel would say.

[JP]

I'm with your MrsHBLjr too (and dlou). The debt snowball is a great motivator!

[Maryanne the Verbose]

Realistically, I'd probably spend it all on hookers and blow and lattes. But, if I was in my right mind (if), I would pay the credit card bills as usual. If you have been forced to just pay the minimum lately, add $25-$50 to each payment. Allocate treat money for the next few weeks ($25-50/week?) and put the rest in savings because having no savings is just a suckfest waiting to happen.

I wouldn't be able to go without fun money if there was extra money around. That would make me feel deprived which would cause me to run up more credit card debt because no one deprives *me* and gets away with it, dammit. Also, the thought of not buying fun things makes my throat close up a little.

See a financial planner so you can get a handle on you financial plan, man. I don't think it's too expensive and your bank may even offer financial planning advice for free. I am personally going to make an appointment with a financial planner as soon as I finish typing. His last name is "Lemon. Yup. At least it's not "Poore" or "Shapht."

[Mary V]

First off - photos - BWAH! HI.Ster.i.cal! Love Lu's new look. Second, yes Pinterest is sooo addicting. Get the Pinterest app for your iPhone - best way to browse, I think.
As for your question of the day, I would do #3 - that way I would feel responsible and frivolous all at the same time.

[LauraL (who knew she should have married for money instead of silly love...)]

If it's gonna kill you to not shop, I'll go with the crowd and say spend a little - no more than $100 - on yourself & put the rest toward credit card debt. If it won't KILL you, put it all toward credit card debt. That shit depresses the hell out of me.

[Lurkella - who only comes out once in a while and then zooms right back to lurking.]

Ok, so I didn't read through all the comments so if this was already said, sorry. This is the Dave Ramsey way.
1) you should have a $1000 emergency fund at all times.
2) Put your 3 cards in least to most order and pay off the smallest one first and work your way up.
3)He does something called a debt snowball. So once you pay off the first card take the amount of money you were paying toward it and add it to the amount you are paying toward the 2nd card. Once you pay off the second card take the amount you had been paying toward the 2nd card (1st card amount + 2nd card amount) and add it to the amount you are paying toward the 3rd card. This way you pay off the cards faster.
4) I agree that if you are dying to buy something new, and I understand that as I love to buy new things, then take a small portion and buy your your little heart until that money is gone, but no touching the money you are puting toward the credit card.

That is how you become a sensible adult. :)
If you want to learn more about Dave's way here is the link.
http://www.daveramsey.com/new/baby-steps/

[Tee, Hubby and I now facilitators for FPU classes. Read "Total Money Makeover"]

Suzanne, putting a freeze on your credit will stop any activity concerning your credit without your knowledge.

[Mattie...]

Adding my vote to MrsHBLjr and dlou.

10% in savings
10% to charity
20%ish to spend
the rest to your smallest debt

Love your pinterest!

[Letha, shopping fundraiser]

Bloo de bloo, guys. I am hitting the tip jar, and so should everyone else. Minimum donation is only $2! We could easily send June on a shopping spree, and she could then be responsible with her other money. I'm calling it Act of Appreciation for yesterday's stupendous post.
And it would be fun.

[June Gardens]

Hah! You could make me buy something. Make June Buy It. June, I have always wanted to see you in a corset.

I am tempted to pay off the 18% card in total. I could do it with what I just got paid. And then when the next freelance job comes, I can blow some of that.

[Kelly Pie]

Just blow it all on strippers and shuffleboard.

It's the American Way.

[Tammi V.V. - sorry for being preachy, but you did ask!]

I am slightly different in my thinking than most of the rest, but listen to me... I used to have over $50,000 in credit card debt, $50,000 in student loan debt, and $500,000 in mortgages. Now, I am completely debt free, including mortgages on both my primary residence and a vacation home, and I haven't had a car payment in ten years.

If you have sufficient credit on a credit card, I don't believe you should add to an emergency savings account when you have existing card debt. If your credit card interest is 18%, it is costing you 18% to have that savings account money just sitting there. It doesn't make sense. So, here is my advice...

0) Take a big bowl, fill it halfway with water and then freeze it. Sit your credit cards on the frozen surface and then fill the bowl the rest of the way with water and freeze again. This way, you will still have access to your cards, but will have time to reconsider your purchase while your cards thaw out.

1) Take the entire amount and plunk it on the 18% credit card.

2) Keep doing this with all the money you get from free-lancing.

3) When your cards are all paid off, then put one entire free-lancing check into a savings account.

4) Then, after you've done that, take your next free-lancing check and blow the whole thing on something fun - clothes, vacation, whatever. You've worked hard and you deserve it!

5) After that, whenever you get a free-lancing check, spend a set percentage on yourself and put the rest in savings.

[: : Garden Girl : :]

I wish I could tell you to go with door #2 but since this is real life I recommend door #3. Have a little fun shopping, of course! But when you see a substantial amount of debt gone you will feel a peace. (Trying to type that without laughing....*snort*)

And Pinterest? It's fun and addictive. Time suck to the max. And thanks for the photos. They are a good start to a mundane day (read: work)

[Laurie just kidding, great idea on the freeze.]

I so now see where a microwave could come in handy.

[Laurie just kidding, great idea on the freeze.]

I now so see where a microwave could come in handy.

(Hope this isn't an effing double post. Didn't see it post the first time I tried.)

[Letha,]

Haha Laurie!

Cards on Ice! Now at the Freezer Dome.

[Anita (Tammy VV, I will gladly take care of your vacation home while you are away)]

It really is a great plan, I say do it June, pay off that interest hog of a card!

[Tee, Hubby and I now facilitators for FPU classes. Read "Total Money Makeover"]

Yeah June! You've got the flick, pay off that nasty 18% card. Tammy V.V., you go girl! Your method does work. Nothing like being debt free!

[Mrs. Oh]

I am so loving Talu Crawford.

[Sadie - I knew you had a plan.]

June, paying off the 18% card is like giving yourself and 18% raise!

[Tammi V.V. - Anita - next time you're in San Diego you are welcome to stay. :-)]

Oh, believe me, I had the ice pick out more than a few times!

And now that you say you could pay off the entire 18% interest card, June, I am DYING for you to do it! It's like getting that free-lancing money tax-free because of the interest you will save.

[Heather P]

Love the pictures. You said it best a few comments back-pay off the 18% one, that's what I would do.