topic Re: I feel so guilty! in Credit Cards

I feel so guilty!

PittsburgPamela — Sun, 30 Nov 2008 02:16:01 GMT

I am always responsible with credit. I have $75k in CLs on 6 cards and only one, Discover, has a balance of $1500. It's the remnants of a BT and incidental use. Well, today I bought two new mattress sets and put it on that card. My daughter and her husband and two kids moved out of my 5 bedroom house so I had 3 empty bedrooms. I've been frugally decorating two of the rooms. I made things, painted old furniture and picture frames, sewed pillows, even made two headboards. I bought the bedding and accessories over the last couple of months on clearance, store closings, etc.

There was just no way I was going to buy used mattresses. That just grosses me out. I got a pretty good deal on a queen set and a twin set at a mattress store. The queen is a Serta Perfect Sleeper Super Pillow Top that was normally $1399 and I got it for $999. The twin was normally $270 and I got it for $200. All told, including tax, I paid under $1300 for both of them. I got a decent queen because it will go in MY bedroom and the full sized one I am currently using in a queen bedframe is going into the other room. My daughter and her family will be visiting at Christmas, they moved out of state, and they'll have beds to sleep on.

I can probably pay off the total balance on that card in 3 or 4 months. So why do I feel so quilty? I bought something that I couldn't have paid cash right now to buy.

Re: I feel so guilty!

haulingthescoreup — Sun, 30 Nov 2008 02:33:14 GMT

Credit, as in briefly carrying a balance, is for situations like this --relatively big-ticket items that you genuinely need, that you know that you can pay off in 3-4 months.

Do realize that if either the BT or previous purchases are at a lower APR than the mattress purchase, your payments will probably go to them, so you'll wind up with some extra interest. Sounds like you already know how that works, though, from your description of the existing $1500 balance.

Re: I feel so guilty!

shreco — Sun, 30 Nov 2008 02:57:19 GMT

You feel guilty because the thought of carrying debt bothers you on a personal level. I think most of us who PIF feel this way when we carry for a few months for these larger purchases. I feel the same way at the moment I am carrying 1700 for some large routine maintence on my car to be paid off by Febuary. It really does get under my skin just looking at that balance but it was neccessary.

Like the other poster said that is the purpose of credit anyway to make our lives easier. The guilt is good though just means your head is in the right place about debt. You will not become a statistic of credit excess.

Re: I feel so guilty!

PittsburgPamela — Sun, 30 Nov 2008 03:38:32 GMT

Thanks guys. It does bother me to have a balance more than I know that I COULD pay off in one payment if I wanted to. I know that this is one thing that credit is for... short term financing for unexpected expenses. I did transfer $1000 to my savings account this month because I knew I would be making the purchase at some point. It left me a little tight on cash for incidentals for the rest of the month but I can live with that more than I can live with debt that I have trouble paying.

The mattress store offered me 0% financing for 14 months and I thought about it for a few minutes. I decided that I didn't want to open any new credit accounts. The Discover card has cash back and my interest rate for purchases is 6.24%. It's not going to cost me much in interest for a few months and it's more incentive to pay it off and not let it drag on for 14 months.

One really good note... My gas & electric bill is only $49 this month!! The bills for the last few months were $262, $161, $76, and now $49. With just me living here I'm at work all day, haven't used the heat or air conditioning, don't leave the lights and TV going in several rooms all day, don't use the dish washer for so few dishes, etc. That's a spare $200 that can go towards paying it off.

Re: I feel so guilty!

My2cents — Sun, 30 Nov 2008 04:23:32 GMT

Pam you're OK. Continue with the good financial moves. From your fellow forumer My2cents:smileywink:

Re: I feel so guilty!

beenthere — Sun, 30 Nov 2008 06:15:41 GMT

Just breath. You're a good person and this will be done very soon. You've done nothing to harm yourself or anybody else. >pats Pamela on the back and smiles....

Re: I feel so guilty!

Not_the_Point — Sun, 30 Nov 2008 06:36:00 GMT

You can always rent the rooms out to strangers after Christmas and make some money off the extra rooms to pay for the new mattresses :)

Re: I feel so guilty!

Itsmeagain — Sun, 30 Nov 2008 09:36:28 GMT

Sure, rent the rooms to strangers so they can trash your new matresses and maybe steal your identity while you're at work . . . . NOT!

Sounds like you are using your credit wisely and the guilt is a good thing, at least for me. It reminds me of what has happened in the past and I really, really don't want to ever go there again.

Enjoy the new furniture.

Re: I feel so guilty!

PittsburgPamela — Sun, 30 Nov 2008 15:00:41 GMT

Whenever it comes up that I live alone in a 5 bedroom house people say to rent out the rooms. I'm enjoying a clean house for the moment and I have my home office and a sewing room. Only two rooms left and they're going fast!

I'm thinking about getting a pet. :smileyhappy:

Re: I feel so guilty!

Lady_Scarlet — Sun, 30 Nov 2008 16:01:41 GMT

Judicious use of credit is never something to feel guilty about -- you COULD have gone out and charged $5K in new furniture rather than re-cycling stuff you have. Instead you only charged what you absolutely needed to charge.

I get the 'enjoying having the house to oneself' part... if you can handle any mortgage/taxes/utilities and don't need the extra income (and it is taxed as income)... then don't create a hassle in your life.

Re: I feel so guilty!

mymoneynow — Sun, 30 Nov 2008 17:46:13 GMT

Congrats on having such high CLs and such low balances! :smileywink:

You are in a great position now, great CLs, low balances, quiet, clean home, and brand new comfortable mattresses. I think new mattresses just make a house smell better. In just a few short months your CC will be back where it was prior to the purchase. If you needed them, or if you just wanted new mattresses, that is OK too. You are being very responsible with credit.

Now, on the dog, I know a dog is a great companion, but you know they do like to jump on beds, mine christened a brand new mattress when she was just a pup. We were diligent about keeping bedroom doors closed while at work and school, but DD left her door open when she was in a hurry one day. So, IMHO, you might want to consider a fish.

Re: I feel so guilty!

PittsburgPamela — Sun, 30 Nov 2008 21:01:06 GMT

LOL about the dog. I'm thinking more of an adult dog to adopt that is already house trained. Or maybe a cat.

I posted pics of one of the guest bedrooms today. The chair rail and panel moulding cost me $230, I did all the work myself. The two gallons of paint I already had because of a color mistake. I made the headboard out of wood shelves that were taken down in the garage, just had to buy the paint and an 8'x4' piece of MDF that I used half of for another headboard. I got the comforter online at Overstock for $50. The Grace Kelly poster cost $20 and I had the frame which I painted black. The pictures above the bed are a poster for $18 that I cut in half and put in frames that I already had too. The cat picture was $13. The chair cost $50 and I painted it and re-covered the seat in black and white polka dot fabric. I made the pillows with fabric that cost $4 a yard. The curtains were $18 at Walmart.

http://ratemyspace.hgtv.com/SNC/viewitem.aspx?pguid=6db6be3f-1720-4ba3-a081-999042c09b6b&itemGuid=8f0262cd-8b34-473d-ab76-7666a20bc7d2

Re: I feel so guilty!

GFer — Sun, 30 Nov 2008 21:40:50 GMT

Oh, Wow! Pamela, that is beautiful!

Do you hire your services out? LOL I'm looking to by a house and I am not so great at designing!

I think you should feel proud vs guilty!

Re: I feel so guilty!

PittsburgPamela — Sun, 30 Nov 2008 21:58:16 GMT

Thank you so much, Gfer. If I'm not working on some project I get very down. I do what I love to do like decorating, sewing, quilting, and gardening. Of course, decorating can get expensive so I keep my eye out for good deals.

People have asked me that but in decorating I do what I like and I'm not sure I would be able to do what someone else likes or wants. Being single I can really do whatever I want without anyone else's input! :smileytongue:

Re: I feel so guilty!

wcnghj — Sun, 30 Nov 2008 22:33:01 GMT

PittsburgPamela wrote:
LOL about the dog. I'm thinking more of an adult dog to adopt that is already house trained. Or maybe a cat.

I posted pics of one of the guest bedrooms today. The chair rail and panel moulding cost me $230, I did all the work myself. The two gallons of paint I already had because of a color mistake. I made the headboard out of wood shelves that were taken down in the garage, just had to buy the paint and an 8'x4' piece of MDF that I used half of for another headboard. I got the comforter online at Overstock for $50. The Grace Kelly poster cost $20 and I had the frame which I painted black. The pictures above the bed are a poster for $18 that I cut in half and put in frames that I already had too. The cat picture was $13. The chair cost $50 and I painted it and re-covered the seat in black and white polka dot fabric. I made the pillows with fabric that cost $4 a yard. The curtains were $18 at Walmart.

http://ratemyspace.hgtv.com/SNC/viewitem.aspx?pguid=6db6be3f-1720-4ba3-a081-999042c09b6b&itemGuid=8f0262cd-8b34-473d-ab76-7666a20bc7d2

Go with a cat, usually cheaper to care for, and no barking.

Re: I feel so guilty!

bamagirl1 — Mon, 01 Dec 2008 02:21:59 GMT

pamela what a beautiful room and you are very talented. my mom is buying me a cheap sewing machine, as i want to learn how to sew, i could do a little from home ec in school but that's been a while ago..also have saw cute little john john outfits at craft shows i want to try and make for my new little one..i keep being told it isnt hard but that's easier said that done

Re: I feel so guilty!

PittsburgPamela — Mon, 01 Dec 2008 03:43:39 GMT

Bamagirl1,

Thanks for looking at my room. I sew home things mainly like drapes, pillows, quilts, and I've made teddy bears and Renaissance costumes. I used to make easy clothing for my daughters many years ago. I would start with simple things and learning what all the terms mean is a big help. I'm sure there are lots of sites online for beginning sewing projects. Purchased patterns have all the directions too.

It's a good lifetime skill to have and can save a lot of money sometimes.

Re: I feel so guilty!

MsKiwi — Mon, 01 Dec 2008 03:51:29 GMT

PittsburgPamela wrote:
LOL about the dog. I'm thinking more of an adult dog to adopt that is already house trained. Or maybe a cat.

I posted pics of one of the guest bedrooms today. The chair rail and panel moulding cost me $230, I did all the work myself. The two gallons of paint I already had because of a color mistake. I made the headboard out of wood shelves that were taken down in the garage, just had to buy the paint and an 8'x4' piece of MDF that I used half of for another headboard. I got the comforter online at Overstock for $50. The Grace Kelly poster cost $20 and I had the frame which I painted black. The pictures above the bed are a poster for $18 that I cut in half and put in frames that I already had too. The cat picture was $13. The chair cost $50 and I painted it and re-covered the seat in black and white polka dot fabric. I made the pillows with fabric that cost $4 a yard. The curtains were $18 at Walmart.

http://ratemyspace.hgtv.com/SNC/viewitem.aspx?pguid=6db6be3f-1720-4ba3-a081-999042c09b6b&itemGuid=8f0262cd-8b34-473d-ab76-7666a20bc7d2

I've seen your rooms on rts and they are fabulous! I remember the master bedroom especially, great spaces!

I love that site.

Re: I feel so guilty!

netpanther — Mon, 01 Dec 2008 03:56:59 GMT

You feel guilt cuz you are only used to that one balance. It is a healthy guilt IMHO, and just pay them off as soon as you can and you'll be ready to go again!

Saw your pics- great job on the room!

Re: I feel so guilty!

LisaJ — Mon, 01 Dec 2008 14:52:14 GMT

I completely understand.

We just bought a house and agreed, as a family, that we would be frugal over Christmas. I paid off all of my cards prior so that my DTI was lower. We have reserves, though we have gone over budget on reapirs and our cushion is no tas cushy as we anticipated.

I have plenty of room on my cards but I am seriously loathe to put it on there. We agreed to be frugal, and I am trying so hard. My credit score is slowly but surely creeping toward 700s and I want so badly to achieve that in the next year...but it's Christmas.

I will probably give in and meet myself half way--chard a couple of items but keep my util low.

In any case, I completely understand how you feel!