Best Day Ever

Dudes and Dudettes. I am in the best mood ever today. Why, might you ask?

For the first time in what seems like my life (though, it's really just "in the time, since I've gotten credit cards" so, at least 7 years) I did my monthly finances, and found out that after rent and the minimum balances on my credit cards, and all other bills (electricity, cable, water, trash) have been paid I still have enough money leftover to completely pay off the balance of one of my cards (the balance on this card is low, only about 700 dollars... but that's one card paid off people!). AND still have a couple hundred dollars left to cover me for the next two weeks. HOWEVER, sometime in the next few days, I am scheduled to get my federal tax refund money (which is a little over a grand). Half of that money is already slated on getting the title of my car transferred to my name (and the state of Louisiana), and buying car insurance for the next three months. This leaves me with a little over 700 bucks for a "cushion".

I've never felt financial security before, but I'm pretty sure this is what it feels like. I still owe about 400 on my Macy's store account, and I'm debating using the rest of the tax money to cover that, taking me down to only having 3 balances left to whittle. But there's this part of me that wants to take that $400 to the mall... and go bat-shit crazy. I mean, That's money I'm supposed to use to stimulate the economy, right?

So, here's a question i pose to you, dear readers, What stimulates the economy more, paying back the bank? or shopping sprees?

PS - the reason that I am hoping to pay off a higher balance card than my Macy's store account is two fold: 1) The Macy's store is an open account, so holding a balance on that does not affect my credit AS negatively as holding a balance on a closed visa account. (though I am aware that it's still hurting my credit) and 2) the APR on the visa is like 4 times that of the Macy's account.

Another thing to consider. I have a goal to pay off all of my credit debt by May 22nd... My 25th Birthday. I view 25 as the "official" adult age (*and I have a set of rules - at least for myself - to follow once I turn 25*), and part of being an adult is being fiscally responsible and I have to start saving money for "the future" because kids are expensive, and unlike certain guests on the Maury Pauvich show I know that there is never such thing as "enough money" when diapers are involved. Also, I want to buy a house by the end of 2009 (probably even more towards the end of the year, giving me a half a year to save up a hefty down payment and work on that Credit Score).

Anyway, (I think I answered the question for myself in this last paragraph) what do y'all think I should do? Spend like it's going out of style? or Pay off one more bill?

*More on this in a future post...