At the end of December 2010, I went on a trip to Colorado with my sister and her church and vowed then when I got home in the new year, I'd pay off ALL of my debt and create an emergency fund.
This is on my climb up Pike's Peak, which I climbed in silence from the other's I was with and thought up my financial plan.
January 1, 2011: I borrow Dave Ramsey's Financial Peace book from the library and then begin to cut back on the unnecessary.
February 4th, 2011: I have paid off ALL of my credit card debt ($4,867.33) and have saved a $1,000 emergency fund. In 2 months I have paid off that much debt and saved an emergency fund. If I can do that, I can do anything!
June 2011: I went on an amazing trip on my own (the best thing to ever happen to me thus far) and I went to Philadelphia, New York City, Connecticut, RI, and up to Boston/Cape Cod, Massachusetts. I vowed that for once, I would do what I wanted and money wasn't an object. I did just that. I had been putting money away for my trip for awhile and so to reward myself for doing so well financially, I did what I wanted, when I wanted on my trip (within reason). Then, back to strapping down and watching my finances.
Anyway, enough of the chatter. I need to pay off my debt and I am giving myself 2.5 years to do so. I need to do whatever it takes to get there and along the way, I know it's going to be hard. It's going to be grueling. It's going to be crappy. I may be considered cheap, but you know what? This is for me! I want to live simplistically for awhile and after that...I can travel, move, do whatever I want and not be tied down by money! I can't wait!
The Theory:
- I'm going to track my expenses. I need to see what I spend too much money in.
- Keep my 1,000 Emergency Fund stocked and out of reach
- I'm going to make, build, scrounge, save, and sell what I can and build the confidence and courage to ask others for favors and tips to spend as little money as I can.
