Working on being debt free!

 

Friday Thoughts: Taking Control of My Money, One Small Step at a Time

So, let’s see…today is finally Friday, August 28th.

I don’t know why, but time seems to be flying by lately. I honestly cannot believe we are already at the end of August. Where did the month go?

And speaking of time flying, I have only 16 saves left to reach my goal at work for this month, and I have today and Monday to get them.

How doable is that?

I’m hoping VERY doable! 😂

I will be so happy if I make my goal. I really will.

Lately, I’ve been struggling at work, and I know it isn’t necessarily the job itself. A lot of it is me getting stressed. My anxiety goes up, I start overthinking things, and then suddenly I feel like I can’t save anybody.

But I’ve noticed something about myself.

When I slow down, listen to the member, have an actual conversation with them, and try to figure out what their problem is instead of immediately thinking about the save…that’s when I do my best work.

Nine times out of ten, if someone will allow me to have that conversation with them, I can usually find a way to save them.

And honestly, we have really good benefits with the attorneys. But I also understand the other side of the conversation. With the economy the way it is and the price of EVERYTHING going up, a legal plan isn’t necessarily a necessity. It’s nice to have, and it can be very valuable, but it’s something people can decide they simply can’t afford right now.

That makes my job harder sometimes.

So, I’m reminding myself to breathe, slow down, listen, and have the conversation.

One member at a time.

Getting Serious About Christmas

While we’re talking about money, I’ve been thinking a LOT about my finances lately.

Last week, I went online and ordered a Christmas gift for all 12 of my grandkids.

Yep. Twelve.

And let me tell you, it felt really good to get that started!

I wanted to get ahead of the game instead of waiting until November or December and suddenly realizing I still had twelve Christmas gifts to buy. Everything should start rolling in fairly soon, and that means one big part of my Christmas shopping is already handled.

I also finally bought something for myself that I’ve been looking at ALL YEAR.

A shirt and a jean jacket.

I’ve looked at them over and over again and kept telling myself, “Nope. You don’t need it.”

But eventually I decided that I really wanted them, and I ordered them.

And you know what?

I’m okay with that.

I also picked up a few Christmas gifts for other family members—a couple of pairs of sweatpants for Mr. C, a nice pair of fleece pants for Trevor, and a leopard-print gift box with all sorts of goodies for Melissa because I think she is going to love it.

So, Christmas is officially underway at our house!

And I’m pretty proud of myself for getting started early.

The Credit Cards Had to Go

Now let’s talk about something that was a little harder.

Yesterday, I might have cut up all my credit cards.

Might have.

Okay…I did.

And it might have brought a little tear to my eye.

But it was past time.

I have been thinking a lot about retirement lately. I would really like to be able to retire within the next five years or so, and if that’s going to happen, I have to get serious about my spending.

I can’t continue doing the same things I’ve always done and expect a different financial outcome.

I’ve learned something about myself:

If I have a credit card available, I’m going to use it.

That’s just the truth.

And if I keep doing that, I’m never going to get myself completely out of the financial hole I’ve created.

So yesterday, I made the decision that enough was enough.

I also had a Chime account where I put about 20% of my paycheck. That was my disposable-money account. It was the money I could use for fun, save for a trip, or spend on something I wanted.

And I cut that card up too.

Was it easy?

Nope.

Was it necessary?

Absolutely.

And strangely enough, there’s actually a sense of relief that comes with knowing I now have to rely on what I actually have, not what a credit card says I can spend.

That’s a pretty big mental shift.

Back to the Cash Envelope System

I also want to get back to something that worked really well for me before: my cash envelope system.

I haven’t done it in forever.

And that’s one of my biggest problems sometimes.

I can start a good habit, do really well with it, and then somehow life happens and I get out of the habit.

Learning new habits is hard for me.

It’s doable, but it’s hard.

So I’m starting again.

September is right around the corner, and I’m setting a goal to put $40–$50 into my cash envelope savings every month, depending on what I can afford.

It may not sound like a lot, but I’ve learned that small amounts really do add up.

There were times before when I was only putting $10 or $20 away each payday, and guess what?

It added up.

So I’m not going to look at $40 or $50 and think, “That’s not enough.”

Instead, I’m going to think, “That’s $40 or $50 more than I had before.”

I also want to rebuild my emergency fund to $1,000.

I’m going to treat that as a separate little side quest.

I’m not going to beat myself up if it takes longer than I want it to. I’m just going to keep working toward it.

Slow progress is still progress.

And Then There’s New York…

Because apparently I can’t talk about money without talking about a future trip. 😂

My coworker Shelby, who is also my friend, and I are planning a trip to New York in November of 2027, around Thanksgiving weekend.

Yes, I know that’s over a year away.

But that’s actually one of the things I like about planning ahead.

I already have a pretty good idea of what I think I’ll spend on the trip, other than the hotel.

Right now, I’m estimating around $320 a night for the hotel room.

I’m probably not going to seriously work on that part of the budget until after the first of the year, but I’m keeping it in the back of my mind.

Because if I know a trip is coming, I can plan for it instead of putting it on a credit card and worrying about how I’m going to pay for it later.

That’s the whole point of what I’m trying to change.

A Few More Financial Pieces

I’m also almost finished paying off my car.

I only have about $270 left, and I’m planning to have that paid off in September.

That feels GOOD.

One less monthly payment.

I also thought I had canceled my Joint Chiropractic membership last month.

Apparently, I didn’t.

Well…let me rephrase that.

I turned in my cancellation information, but apparently it didn’t get turned in properly because I’m still looking at that $80 charge for September.

So I’m going to rewrite my cancellation letter and get it back over there.

I’m not interested in paying another $80 if I don’t need the service.

That $80 can go toward something else.

In fact, I’m planning to move that $80 over toward our Starlink bill, which is about $85.

And yes, I do think Starlink is better than what we had before.

But am I going to upgrade to the $130 plan just because I could?

Nope.

Not right now.

We don’t use a tremendous amount of Wi-Fi at our house. We use it for the television, my laptops, and the things we need it for, but I don’t feel like I need to pay for more than we actually use.

And I think that’s another part of my new financial mindset:

Just because I can spend it doesn’t mean I should.

That may be one of the hardest lessons I’ve had to learn.

A Fresh Start

I don’t expect to magically become a perfect money manager overnight.

That’s not realistic.

I’m still going to want things.

I’m still going to see something in a store and think, “Oh, I want that!”

I’m still going to want to travel.

I’m still going to buy Christmas presents.

And every now and then, I’m probably going to buy myself that shirt and jean jacket I’ve been staring at for a year. 😂

But I want to do those things differently.

I want to plan.

I want to save.

I want to pay cash.

I want to stop depending on credit.

And most importantly, I want to start preparing for the future I say I want.

If I really want the possibility of retiring within the next five years, then the choices I make today matter.

So here I am at the end of August, getting ready to start September with a few new goals:

16 more saves at work.

Pay off the last $270 on my car.

Cancel that chiropractic membership once and for all.

Put $40–$50 a month into my cash envelope savings.

Work toward rebuilding my $1,000 emergency fund.

Start planning for that future New York trip.

And, most importantly…

Learn to live on what I have instead of what I can borrow.

It’s not going to be easy.

But I know it’s doable.

And sometimes a fresh start doesn’t happen on January 1st.

Sometimes it happens on an ordinary Friday in August when you finally decide you’ve had enough of doing things the old way.

Here’s to making better choices, one paycheck, one envelope, and one small step at a time.

Have a great weekend and thanks for stopping by. Cheers, Karen.