Past mistakes pulling you back?

I just realized that hubby and I have managed to waste a few thousand dollars on something that we could have avoided, high interest rates. Grrr!  I’m very annoyed, but it just goes to show that I still have much to learn.  

I’ve always know about using balance transfers on credit cards to have lower interest rates.  I’ve never done it with other debt, so I was hesitant.  Besides, for a while, we were toying with the idea of purchasing a home.  I figured, having the cash available in the credit card will be helpful if we needed extra cash.  Also, I didn’t want to increase our debt to credit ratio and affect our credit score when we’re applying for a loan.  So, here we are, we still haven’t purchased a home and we’ve easily wasted our money by not using a balance transfer.  

Before I started writing this entry, I was very upset. I couldn’t stop computing all the numbers in my head and with a calculator. I kept thinking of the “woulda, shoulda and couldas.”  But as I wrote down the reasons why I hesitated in the first place, I felt relieved.  There was a plan involved from the beginning. We didn’t do it just for the sake of it.  Unfortunately, it eventually came back to bite us on the “beeehind.” But that’s besides the point.  I could keep kicking myself for this mistake or, I can move on.  

With that in mind, I did it!  I finally did a balance transfer. I’m still concerned about our FICO and our possible need for cash in case we end up getting a place in a few months. But now, instead of a plan, we have a perspective.  ”If our score gets affected and funds do not become available when we want to get a home, then, it’s not the right time to get a house. Because when the right time comes, everything will fall into place!”

What I learned, take mistakes as opportunities to learn and become better!