Debt. No one likes to talk about it or admit they have it. Health is not only about healthy body and mind...its also about healthy finances and I've been lacking in the later. This is a hard one to admit. But I hope it inspires someone to not be ashamed or overwhelmed about where they're at. I am trying not to dwell on all my past mistakes but use them as learnings. I hate to say it took me until I was 55, but it's never to late. It's hard when I know where I COULD be financially right now, because I could be killing it!
I spent far too many years buying material things trying to make things look better on the outside than they were on the inside. Covering up pain, bad relationships, trying to make myself feel like I was ok when I wasn't?
I grew up with a Mom who used cash envelopes. We never had a lot of money so I assumed that was why. We were never taught budgeting. I saved a little while I was home. I got married and then the debt came...big houses, fancy cars, lots of vacations all on credit. Divorced twice, a bankruptcy, lost 3 jobs over the past 8 years, and have gone in and out of debt so many times I can't even count. As soon as I was out of debt, something happened to pull me right back in. I tried Dave Ramsey and he did nothing for me but make me feel guilty and depressed. The whole you can't save, live life or do anything until your debt is paid just didn't work for me. I started following The Budget Mom and her Budget by Paycheck plan in August and WOW! Her philosophy is so amazing! Budget by paycheck, zero based budget tracking every dollar. She teaches that you can save, have fun and pay off all your debt at the same time as long as you plan for it! I realized that I NEVER planned for anything! I would use all my income for bills, debt, and then use my CC's for everything I needed or wanted like clothes, fun, vacations and emergencies. Vicious cycle and well, I spent more than I had every time.
I NEVER carry cash…NEVER. I always swipe my debit card. The mentality that it's coming out of my checking account...what's the big deal, has not bode well for me. I never really tracked where my money was going. It's probably the worst time to start using cash (thanks COVID) but October is my first month of using cash for everything that is not bills. I will be stuffing envelopes for planned expenses like Christmas, pets, Vacation, Car Maintenance, etc. I will eventually go back to cashless but this is a great way visually to track every single dollar that you spend.
Maybe I'm in the minority but I don't think I am. I'd love for you to join this debt free journey with me. This will be my last time in CC debt. I have big dreams! I want a house in the mountains in the next two years. I'm excited to see how much impact this has over the next year.
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