I well and truly stepped out of my comfort zone this past week.
After a pretty traumatic time the previous weekend (Which took a massive hit on my mental health), I turned to my credit cards once more for some emotional spending on things I REALLY didn’t need.
I knew that while ever the credit cards were available to me, at this present time the temptation to spend is just too much for me, so I did something I never thought I’d do. I cut up my credit cards.
For years I convinced myself I needed them for emergencies, but full disclosure? Not once in all of the years I’ve had credit cards have I actually used them on an emergency. Only consumer debt...
I realised the excuse the little devil on my shoulder was giving me just wasn’t enough to justify the cards anymore, so they got the snip! ✂️
It’s been the best decision I’ve made. It’s already stopped me from buying a Windows Surface that I started to convince myself I needed (my OH’s Dad has one and it was just pretty!). Without the CC that was a no go, and I don’t even want one now anyway! 🙈
In terms of emergencies, one of my 2019 goals is to save £1000 for an emergency fund, so that will be covered anyway.
Is this what being an adult is?! Who even am I?! 😂
#debtfreecommunity #debtfreecommunityuk #debtfreejourney #ukdebtfreecommunity #debtfreeuk #debtfreelife #debtfreelifestyle #debtfreeliving #creditcarddebt #budgetlife #budgetlifestyle #budgetliving #budgetblogger #budgetgoals #debtfreegoals #budgetplanning #frugality #frugalliving #frugallife #frugallifestyle #frugalblogger
's lead and calculating the interest we paid this year. In the three years of owning our home, we have paid a lot in interest!
We bought a 3 bed townhome for $229,000 and put $200,000 down on a 15 year VA loan at 3.25%. We paid a lot to it this year but still owe about $95,000 on it. We paid $262 this month in interest.
Considering our home value is now about $310,000, we will probably come out ahead once we sell! Especially since we have a temporary roommate in our basement paying us $600/month. We are putting that money in our high yield savings account for now.
Though we wanted to move last year, we are happy we are staying until we sell it before living in Germany in 4.5 years. We plan on using what we make on the sale for our next down payment on what hopefully will be our forever home for our family. The ranches we like are 500-600,000 so how cool would it be to put almost half down? Especially if interest rates are higher.
#inspiredbudget #financialindependence #budget #fi #fire #invest #financialfreedom #decembergoals #familyofthree #budgetgoals
I had my first “No” since beginning our debt free journey. .
We planned to mail letters to Santa & grab hot chocolate with friends this week, which I had budgeted for. The morning we were going my friend texted if we wanted to grab dinner after. Normally I would’ve said yes, it’s late in the week, I’m tired, etc but I know we’ll need our restaurant cash for next week when we’re traveling, so I said no. I’m not going to lie, it was hard. .
Instead, the kids mailed their letters, we walked around our cute village, and then grabbed hot chocolate & coffee and came home to have dinner. .
I know these things will become easier and I’m glad I have that $50 that would’ve gone towards a meal out, but I feel like this is definitely going to take practice for me!!!
#debtfreegoals #babystep2 #momlife #debtfreecommunity #debtfreejourney #daveramsey #budget #budgetgoals
This year has been a tough, well more the last couple of months. And after thinking about what yould be best for me and what I need to do to get to that place of being happy I decided that I will be moving away from Orange County. Its hard to actually come to that decision but it was one that once I found the reason why it just made sense.
So with that comes soooo many changes. I am sooo thankful that I am in the position of being able to transfer to another location not only with my Full time but as well with my part time job! This to me is amazing and honestly knowing this made the decision much easier.
Now with this my budget will be changing. Since I will be moving back home I will actually be saving sooooo much money that I will hopefully be done with my snowball way faster. I havent done the math and I kinda dont want to just because I know myself and if I do that I will make excuses for myself to spend money that I do not need to do. But I am hoping that with this I can actually be on Baby step #3
by April 2019! Im crossing my fingers that its sooner than that!!! This is good change! I cant wait! 2019 I am hoping will be a better year for me!
#debtfreecommunity #daveramsey #financialpeaceuniversity #debt #debtfreejourney #debtsnowball #babystep1 #thetotalmoneymakeover #budget #zerobasedbudget #debtfreejourney #goals #debt #financialplan #fpu #llnoe #daveramsey #budgetgoals
One of the best things my husband and I ever did during this journey was implement the use of the envelope system. I’m so happy we started this early on. It has made budgeting easier and more organized. And kind of fun, cause I’m a nerd. =
I used to think we were “on a budget” but just telling myself we wouldn’t spend too much money that week. Then my husband and I would just use our debit cards for everything (mostly eating out)… & end up with no money left over to pay debt or to put into savings. Then we’d be in a bind with no money, and we’d break out the credit card. It was a horrible cycle, but it also felt so “normal”.
We have an envelope for each of these life necessities:
-Gas for husbands car
-Gas for my car
-Doggy fund (for our furbaby)
-Car Maintenance (never know when future repairs are going to be needed)
-Laundry (we don’t have a washer/dryer in our home…yet)
-Home Renovations (we own a fixer-upper, purchased before we knew about Dave Ramsey)
-Dinner and Drinks (for once a month date nights)
-New Washer & Dryer
-Wedding Envelope (we are at that age where everyone around us is getting married, so lots of bridal showers & weddings to give gifts at)
-Vacation Envelope (we are planning a trip for 2020)
-Misc. (for who knows what)
Today, I updated all of my expense trackers with my receipts. I failed with one envelope for this month's $10 cash envelope savings challenge, but I'm on track for the rest of my envelopes.
I have been using the cash envelope system for almost 6 years, and I can honestly say it has changed the way I budget and manage my money COMPLETELY.
There is a reason I incorporated the cash envelope system into my method - because it works and showed me signs of success.
Over the years, I have found ways to make the system easier. Today, I wanted to share some tips on how to use the cash envelope method successfully in your life.
1. Don't just stuff them with random amounts. In order for your envelopes to work, you need to make sure that your cash limits align with your real life spending. It's not about how much you WANT to spend, it's all about what you're REALLY spending. It starts with tracking your expenses.
2. Tweak, perfect, and change your cash envelopes if they just aren't working. If you have a cash envelope that isn't providing value to your budget, get rid of it. If you are constantly running money out cash in one envelope, increase the limit and decrease another. Need to make another category for a problem area of spending, go for it if it truly helps you control and overspending. Don't be afraid to make it your own.
3. Your envelopes can hold more than just cash. SAVE THOSE RECEIPTS. I get lazy every now and again, and I go days without updating my trackers. Keep those receipts so you can come back to it later when you have time.
4. Only carry the ones you need. Don't walk around with 6 cash envelopes in your purse. Plan your daily spending in the morning, and only bring the envelopes that you will use.
5. Cash envelopes aren't just about budgeting, they're also about spending. Use that to your advantage and find ways to save your cash. Create challenges for yourself to find dollars you didn't know you had.
You can find a step-by-step article on how to start using the cash envelope method by clicking the link in my bio.
You can be successful with this system. Don't give up before you give yourself time to see it❤❤
We started with 185k and we are now so happy that we are under 70K! So thankful we are still on this journey and motivated to keep going! 🙌🏼😭#hellosixties #merrychristmastous
Rough week this week. I love my job but I've lost a bit of respect for my employer... 4th round of redundancies the last 24 hours, in 2 years... I've been lucky but makes you wonder when ur numbers up...
Hello!!!! I wanted to jump on and give a brief introduction, since I forgot to do that earlier!). I’m a wife, SAHM to 3 kids (8, 7, & 5), we live in the Northeast, and we just started @daveramsey
Baby Steps (currently on Step 2). I joined the #debtfreecommunity
to have support in our journey as well as help support others! I’m a creative person who spent my years before kids working in the fashion world in NYC. As a result, I love beautiful spaces, food, clothing, pretty much anything! I hope to share how we’re making our budget work for us while paying off debt and still living a life we love!!! I’m so happy to have you all along!!!
#momlife #debtfreegoals #babystep2 #organization #budgetgoals #debtfreecommunity #debtfreejourney #momsofinstagram #budgeting #budgetgoals #daveramsey #livelikenooneelse
We have one toddler at an in-home daycare a few minutes from our house. We live in Denver, CO and many people pay a lot more than this so we feel lucky that he gets a caring provider, a whole house and backyard (when it's warm) to play in and there are two other boys his same age to play with.
Considering she spends 40+ hours with him a week and it allows us to make our incomes, this is possibly a deal! And I took the $5,000 dependent care tax credit this year and Mark will do it next year (though it should be a tax credit for the full amount you spend I think!). What's your daycare costs?
#daycare #financialindependence #budget #fi #fire #invest #financialfreedom #decembergoals #familyofthree #budgetgoals
I opened the Savor card in October. I made the $500 bonus and already another $50 in cash back!
Yes, that's a huge balance but it does include a work trip that I'll be reimbursed for, two $270 Target gift cards (valued at $300 each), our monthly health insurance premium ($221) and our budgeted Christmas and typical grocery shopping. I will pay it off in full when it's due.
As always, don't use credit cards if you would need to carry a balance! But if you want a free $500, check this card out! I plan on cancelling before the $95 annual fee is due.
#inspiredbudget #financialindependence #budget #fi #fire #invest #financialfreedom #decembergoals #familyofthree #budgetgoals
I have 3 kids, 2 are in elementary school and 1 is in a PreK program and all 3 take a snack & a lunch each day. I’ve always packed everything in the morning (I’ve tried to do it at night and it just doesn’t work for me) so I look for things that do double duty. These pumpkin bites are one of those! They taste like a yummy pumpkin cookie and are healthy too! We will have them for breakfast one day and then I’ll pack leftovers for snacks (along with pears & a cheese stick today). Side note: their snacks aren’t usually this big, but today is a 1/2 day so no lunch at school. #debtfreegoals #babystep2 #organization #kidsnacks #lunchbots #debtfreecommunity #debtfreejourney #budget #budgetgoals #momlife
November has flown by, and the numbers are in! .
This time, I only went over budget by... $382.
I know. I know what you’re thinking.
Clo Bare… You suck. That’s terrible! You still went way over budget! .
Head on over to the Bare to hear my REALLY good rationalizations and to check out EVERYTHING I spent my money on in November. <3
I spent $5 on this 😒 #FAIL
I was craving something sweet & found myself pulling into the Starbucks drive-through. I didn’t even really think about it. But once I finished the drink (sure, it was delicious) I felt ... guilty .
I have $88 left in my budget this week and I’m kinda mad I spent $5 on this teeny, tiny cup of coffee .
This journey is so much about DISCIPLINE. Having the strength and smarts to say, “No, I won’t spend that money on coffee/takeout/makeup/clothing/accessory/etc.” And walking away from the item we want in that moment. For 2019, I’ll be working on more discipline.
Financial Independence - Retire Often!
Did I make up a new term? #FIRO
Let me know if anyone else is using it!
It's not as sexy as #FIRE
but it's the plan I've been practicing my whole life. I worked a difficult job (military) for 6 years then took 10 months off to travel and spend time with family.
Then I worked full time and full time grad school and needed another break to travel for 5 months.
Now we've been working solidly for going on 4 years and I plan to take another year break if we have a second kid (which won't be the same as traveling of course! Babies are still a lot of work!). We plan on living in Germany for a year in 4.5 years and already are planning on how to do that financially. But overall, I don't plan on retiring fully until at least 60. In my line of work (healthcare), it's not something you can make into a digital nomad life. But it's also easy to get burned out. I'd rather work hard and take periodic mini-retirements than try to fully retire. M also likes his work for now too. And I feel it'll be essential to work through our kids going to college since who knows what that'll look like in 17 years.
What about you? Would you rather FIRE or FIRO?
#financialindependence #budget #fi #fire #invest #financialfreedom #decembergoals #familyofthree #budgetgoals