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Subject:  Paying off the balance Date:  12/23/1997  11:13 PM
Author:  TMFRunkle Number:  338 of 309666

This year, with some very difficult investment decisions, I'm paying of my credit card balance again. Last year at this time, I had the the balance down to zero, and planned to keep it that way. What happened?

First, my wife's car needed new brakes, not just shoes, but wheel cylinders, rotors, etc. One day she was driving, and the brake light went on and the brakes started to go. We had to have the stupid thing towed, and repaired in a shop. That was about $600. Then the Foolmobile (225,000 miles) had to have the radiator and heater core replaced. Then its brakes went, again the whole shooting match, went out while I was driving (fun). Refrigerator died... You get the picture.

Once you start charging, and can't pay off the balance, which I could not do with a couple thousand on the cars in a month, the cash flow goes down. Then, you have to charge other things. It keeps getting worse, and next thing you know, you are in mucho debt a