Home > Managing Debt > The Debt Diet Challenge Week #11: DIY Repairs, Still Focused on Paying Down Debt

Comments 0 Comments

This is our weekly installment of The Debt Diet Challenge, in which we follow the progress of participants selected to take Jean Chatzky’s Debt Diet as they work to get themselves out of debt and on track to a better financial future. Every week, the participants blog about their experiences with the program. Here are their latest dispatches…

Penny

This past week we struggled a little due to my forgetting about an auto payment coming out. I was down to $13.00 left in my account, hoping my closing was going to happen on the 15th. I ended up writing a check Wednesday night for gas and hoping to cover it with my closing on Thursday. I did have money to cover the check in my savings, but really hated the thought of transferring it. Anyway, it all worked out, thank goodness.

[Related Articles: The Debt Diet Challenge series]

Jean suggested that I save ½ of my commission check and apply the other half onto my highest credit card balance. I haven’t been able to do that due to no gas in either of our vehicles and no money coming in until next week. It was frustrating not to have any money available, and I didn’t like it. I am working on my emergency fund in my savings so I don’t consider that money available. We didn’t use any credit cards, either. I didn’t really like the feeling … I have had those feelings way too much. Anyway, this closing wasn’t my biggest of the three scheduled, and I used this money for gas for both vehicles and getting some necessary groceries (milk, bread, onions, etc.). I also purchased two new tops from Wal-Mart ($27.00 for both), which I needed but should have waited to buy. I really don’t buy new clothes for myself. I think I have jeans from 5 years ago that I still wear.

[Tool: Quickly assess your risk of identity theft for free]

I showed my co-worker a little more about how the program worked and she seemed very interested. She is looking at purchasing a newer car though, so not sure she gets it. It is sad to see someone who, like me, is one check away from losing everything, and doesn’t see it. I was the same way, when I did see it, I wasn’t making the money I used to and could not find my way to do anything about it. Now it is a different story, I am learning and am happy to say, heading in the right direction. I look forward to paying myself back when we get our next paycheck (½ in my savings) and paying the other on the credit card. That part is already scheduled through bill pay; I just hope I can pay the savings account, too.

[Featured Product: Get a free trial credit score]

I also repaired a GFI plug in our camper myself. I had to purchase a new outlet for just under $30.00 and the salesman told me how to replace it. I am happy to say it worked and I felt great! All three outlets on the camper, which ran off of that GFI switch, work! Yeah, I was so happy and my husband was, too.

We just got back from being with our friends today. We went looking up by Ponca (Neb.) for elk. It was a full day of driving and I am exhausted, but happy to say we saw a herd of beautiful elk. There were young elk and mighty bulls with massive antlers and, of course, cows. It was an awesome sight to behold and a wonderfully blessed day. I hope you enjoy the picture.

Read Chris’ story »

Image courtesy Debt Diet Challenge blogger Penny

Pages: 1 2

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Our Owners

Credit.com is owned by Progrexion Holdings Inc. which is the owner and administrator of a number of business related to credit and credit repair, including CreditRepair.com, and eFolks. In addition, Progrexion also provides services to Lexington Law Firm as a third party provider. Despite being owned by Progrexion, it is not the role of the Credit.com editorial team to advocate the use of the company’s other services. In articles, reporters may mention credit repair as an option, for example, but we’ll also be sure to note the various alternatives to that service. Furthermore, you may see ads for credit repair services on Credit.com, but the editorial team isn’t responsible for the creation or implementation of those ads, anymore than reporters for the New York Times or Washington Post are responsible for the ads on their sites.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team