I did a bad bad thing . . .

[red92s]

I'm currently planted in Denmark for 2 months for a work assignment. While here, all my expenses (except personal purchases) are covered by the company.

I've been here a month, and been using the extra cash from not paying for food/gas/etc to rapidly pay down my car loan. I have a healthy (but still growing) emergency fund. I haven't made a purchase on my credit card since beginning a rapid paydown plan several months ago.

The second weekend in June is a 4-day holiday here. I've explored Scandinavia extensively by now and wanted to go somewhere else. I broke out the CC and booked a ticket to Prauge for $350. I just feel so . . . dirty (?) using the CC after being so diligent with it lately. It's a totally discretionary purchase, and I'm not 100% debt-free yet (close though). I was so close to being "back in the black" I could practically taste it; now that'll have to wait another month.

It almost feels like getting a quarter pounder meal from Mcdonalds . . . you know its "wrong" and "bad", but it such an immediate endorphin high you just can't stop! That one ticket increased my total debt by 20%!

[maat55]

Well, look at it this way, you only have around 2000 of debt and you got to do something, that if you didn't do it then, would have cost much more, to do later.

On the other hand, you failed. Think how much sweeter the prize, when you save and pay cash and afterwards your still debt free. Now, get back on the horse.

[rob62521]

They say when folks are on a diet and do without, it makes them often fall off the wagon and eat even more. You have to ask yourself -- is this an opportunity I may never have? Will you go back to being the good saver and pay off your bills? Sometimes you have to do a nice thing for yourself to make all the hard work and sacrifices worthwhile.

[LuxLiving]

Okay look at it for what it is:

1)An OPPORTUNITY to visit a part of the world you may never get to again.

2)A short-term debt. Yes to have paid in cash would've been better, but if you hadn't been doing the rapid paydown on the car you'd of had the cash yes? So, you're just a little behind on being out of debt for 2a)an OPPORTUNITY that many would say is once in a lifetime.

3)A Learning Experience: a)culturally b)financially c)geographically. World-trekking is not to be taken lightly. Looks terrific on a resume.

3b1)Would've been better to be in a place to pay cash.
3b2)Did I shop for the best price on the ticket?
3b3)Could you have found a less expensive way to get there? And learned more 3A)culturally? Taken an ox cart perchance? I'm kidding here, I've no knowledge of what alternate means of transportation are available, but perhaps there is some way to get there that would've been cheaper.

4)Now let's face it - you've done it, so stop beating yourself up about it - learn from it, and most of all ENJOY IT and wring every drop of goody you can from the experience. And apply all that you learn from this experience - the debting, the shopping, the actual going - to all your future travels.

4a)In relation to all of the above can you do something educationally while you are there that enhances your career? can be used to take the trip off your taxes?

You can use this line of thought to rationalize your expense or you can use it to think of some practical ways to make the side-trip pay off for you in the long run. Yes?

[Joan.of.the.Arch]

Wow, only $350? Will that get you back to Denmark, too?

Being that you financed the car, you are still ahead of your original plan. Good going!

[maat55]

They say when folks are on a diet and do without, it makes them often fall off the wagon and eat even more. You have to ask yourself -- is this an opportunity I may never have? Will you go back to being the good saver and pay off your bills? Sometimes you have to do a nice thing for yourself to make all the hard work and sacrifices worthwhile.

I would use this experience as a learning moment. It can show you how easy it is to give in to temtation.

The whole purpose in living debt free and paying cash for wants is so that you can live life with less stress and have more wants. Just like being on a diet, you have to resist the sweets, to keep the weight off. (Sweets in this case is debt) You can have anything in life you want that your income can provide, but having it with debt, is like dragging a ball and chain behind.

Debt freedom and saving for for your wants, gives you more funds to use and with less stress. Also, using good judgement on the things you buy, so they have less value loss will help.

One thing that sticks in my mind that I read in Rich Dad Poor Dad was that you should buy assets and let them buy your wants. Basically what that means is, you should invest your money and let it earn you more money to spend later.

Bad:

Borrowing to buy wants and paying interest. Especially, spending most of your money buying things that loose value.

Better:

Being debt free and saving,(Earning Interest) then paying cash.

Best:

Sacrificing and being debtfree and investing money early on so later your money can buy you much more.

Ultimately, having a good plan and sticking to it, will serve you well.

[red92s]

I should point out that my only expense for this trip is the $350 plane ticket. My company would have been on the hook for hotel/car/gas/food if I remained in Denmark that weekend, and it's actually cheaper for them to have me in Prauge than here.

I definitely don't think I'm "off the wagon" here. It's a small step back, but yes, still a step back. I love travel, and a trip like this would run into the thousands to do on my own down the road.

I made a $700 payment (4x the monthly payment) on my car this month with extra money afforded by having the company pick up my tab. If I hadn't, the ticket would have been paid in cash. I could have tapped the EF, but I honestly like seeing it grow every month. Next month, I'll be in the same situation, and be able to pay off Prauge and make another large car payment.

I think if I'm able to spend the summer traveling Europe and spend $350 in the process, than that's a good deal. Still tough to pull that card outta the wallet again though . . .

[maat55]

I should point out that my only expense for this trip is the $350 plane ticket. My company would have been on the hook for hotel/car/gas/food if I remained in Denmark that weekend, and it's actually cheaper for them to have me in Prauge than here.

I definitely don't think I'm "off the wagon" here. It's a small step back, but yes, still a step back. I love travel, and a trip like this would run into the thousands to do on my own down the road.

I made a $700 payment (4x the monthly payment) on my car this month with extra money afforded by having the company pick up my tab. If I hadn't, the ticket would have been paid in cash. I could have tapped the EF, but I honestly like seeing it grow every month. Next month, I'll be in the same situation, and be able to pay off Prauge and make another large car payment.

I think if I'm able to spend the summer traveling Europe and spend $350 in the process, than that's a good deal. Still tough to pull that card outta the wallet again though . . .

I think you have the right mentality towards debt, but you will surely be tempted throughout your whole life to make bad decissions. Have a plan and stick to it. You should read The Millionaire Next Door, it's a very interesting book about consumption and wealth.

[aurielle]

Am I the only one who gets that song stuck in my head whenever I see the title of this post??

[red92s]

Am I the only one who gets that song stuck in my head whenever I see the title of this post??

Not unintentional . . .