Thoughts on life
So, as the week starts, I always take time to reflect on the week previous. What did I accomplish? What did I not accomplish? What was inportant? What was not important? Then I plan for the new week asking the same questions. Do I need to keep follwoing this path or create a new one? It is good to go through life to see if you are moving in the direction of your goals and dreams. Do you do that?
I am always finding ways to spend time with family and friends. I am always looking for ways to get out of debt. Debt is the fcus for me and my family. Why you may ask> Well, once we are out of debt, we are no longer slaves to the lender. Our house and land will be paid for soon. We have no car debt, but my son does. He and I both have student loan debt. It will be nice to get rid of all this debt. It weighs us down. The money we earn is not our money, it is the people we owe money. Different perspective right?
To get out of debt:
1. Save $1000
2. Put all bills (total amount per bill) in order from smallest to largest. Do not worry about interest or payment amounts. Just total debt, smallest to largest.
3. Save 3 to 6 months of expenses (what it costs to run your household)
4. Save 15 % of your yearly household income for retirement
5. Save for child's education
6. Pay off mortgage
7. Live and Give
You MUST do the baby steps in order. This is where/how the momentum is created. The intensity is created and needed in the first 3. Sell things, get extra jobs, make more money, etc. Do not do it your way. This is a proven way to get out of debt. Your way doesn't work or you would not be in debt. TRUST THE PROCESS.
Also, Look at how and why you spend money. Sometimes we spend just to spend. We don't have money and we don't a good reason for it. We just do it. It is like the money is burning a hole in our pocket. So we need to be SMART Spenders
S-Self awareness: will this add value to my life?
M- Motive: am I buying this for the right reason?
A-Affordability: is this in my budget?
R-Research: is this the best option, retailer and price?
T-Timing: is now the time to buy it?
BE HONEST with your answers. Use this each time you are thinking about spending money!
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