by Hope
Having my engagement end so abruptly last year not only threw me for a loop emotionally, but financially as well. Now don’t get me wrong, we had not intermingled our finances at all. But we had plans, lots of plans. And all those plans included two incomes. We had planned for three years of hunkering down and focusing on building. Then…
Well, you get where I’m going. I’m back to party of one and figuring out what this next phase of life will look like.
Three years to go
We had decided on the three years because of Princess. She has three more years of schooling. And I hesitate to make any major moves until she is done and launched. This may be the mama bear in me, but I don’t like the idea of being somewhere I can’t get to her quickly should the need arise.
Because this reason hasn’t changed, I am committing to three more years here in this home. And then, I will figure out the next move.
Start preparing now
With that decision made, I know that I have several BIG dreams. And they are just dreams right now. But knowing that, it is time to sit still and focus on being prepared for what’s next. I don’t have a lot of BIG areas I can cut back anymore. Over the years, I have cut back almost everywhere.
So now, it’s time to look for the small things I can cut back.
What areas have you found where small changes have big effects?
Hope is a creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 3 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.
More than a decade ago, I ventured into the ‘get out of debt’ blogging world. There were several blogs I followed and commented on. I tried to make my posts personal and my comments helpful. One blog in particular comes to mind. The writer had debt and very little means to survive, much less pay down the debt. Something she said one day struck me – “it’s only a dollar.” In my opinion, it’s *never* “only” a dollar. Because the more often you let yourself have that attitude, the less money you’ll have available to pay down that debt.
I guess my recommendation is to not allow lifestyle inflation because of the increased income. Live like you’re still struggling a bit and use the extra money to pay down the debt.
I love this…and I have definitely been guilty of that. But with the new year, I am circling the wagons again with a focus on debt payoff. And I definitely need to watch my “it’s only a dollar” or “it’s only one meal” mindset. Thank you for the reminder.