So here’s a not fun topic and something I never thought I would publicly discuss. Like most people, I don’t like debt, it’s irritating to owe someone money. To have that hanging over you, flying around you like a dang gnat.
Lately at church they have been discussing finances and how money is something that should be talked about and dealt with. I won’t get into the biblical aspect of this because that is not my area of expertise nor is it something I want to discuss in this blog. But religious, spiritual, or not, they brought up some great points. It made me review what I am doing with my brother. I went to his office the other day and said “what can I do differently? what do you do so I can put myself in a better position?” For the most part, I have a good handle on it. I don’t make a lot and everything is put where it supposed to go, there just isn’t anything substantial enough left over to save a lot or pay down debt.
My goal: no car payment and no car payment ever again, no credit cards, start paying down student loans.
I have no clue how long this will take me but at least it’s on my mind. I want to eventually be able to say, “it’s okay if I lose my job because I own my assets outright and no one can take them from me”.
My brother also brought up the idea of having a zero credit score. ZERO. Sounds awful right? Not necessarily. If you have a zero credit score it can mean that you don’t owe anyone anything, so you are not being tracked. You are using CASH to pay for what you need/want. If I can’t afford it in cash…guess what? Then I don’t get it. It’s scary to not have that credit card around in case things get hard. But it makes you rely on yourself. Luckily, I’m not that materialistic and want a lot of things so it won’t be hard to not go shopping but that makes it a little harder to save in my opinion. If I’m not shopping….then what in the world do I cut out of my budget? Need food, need diapers (could finish potty training him but I’m sure he’ll quickly need something else after that money frees up), need transportation. I would love to get a different car and lower my monthly payment but I can’t sell my car for enough to pay off the balance quite yet…so that’s not an option.
My brother also recommended listening to a finance series called Financial Peace University by Dave Ramsey. So I am going to listen to the disks to and from work and I will report back here on my thoughts.
Anyways. I’m gonna try this out. Sorry to those that I end up saying no to going out but I would really like to be somewhere else financially, so bear with me while I do this please 🙂
Here is my challenge for the remaining month. No spending except for the basic necessities. I also have to exception the trip that was already planned. Here is where I got this idea. Sounds extreme so I’m sure I won’t get it right on my first try. I’m giving myself through the end of the month to start getting in this mindset. I want this to be a lifestyle, not an extreme diet fad.
Now it feels like a game, a challenge….the last time I challenged myself, I lost 40 pounds. 😉 Heck, I may lose the last 10 pounds by not spending money on going out food!
Now that the weather is getting nicer, bike more, use gas less. That really isn’t going to get me far, but it will save a little bit. The store is less than 1 mile away and same goes with my parents. I have a bike trailer for Smiles and groceries. Bonus: Smiles loves being outdoors. …note to self : need to get a bike lock.
Here are some more helpful links I may tap into:
Way above my head at this point but want to bookmark it anyway