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Browsing posts in: Keeping Motivated

A Big Weight Off

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I’ve mentioned before that I do my forecasting out a quarter at a time. (It’s just a simple Excel spreadsheet.) I include all my regularly budgeted items, any extras I know about (birthdays, holidays, travel, etc.) and my income based on current contracts with clients.

As I continue to go full speed ahead with debt payoff, I spent some time this weekend creating my forecast through the end of the year. And you will never guess what…

I am finally at a place of stability again…by that I mean, if I maintain all my current on-going contracts, I will make enough to cover all my currently budgeted for expenses for the rest of this year!

That is such a weight off my shoulders, especially as we have been living paycheck to paycheck for so long. Obviously, there are no guarantees, but right now, my financial situation is stable, my income streams are varied and I am very hopeful for the long term.

The Caveat

There are a few caveats to this and one is glaringly obvious, at least to me:

I do not have a car, car payment, fuel costs or car insurance in my budget. (Well, I do have car insurance but it is minimal since Sea Cadet and I are both insured on his car.) That will have to change in the next couple of months somehow.

But for now…I can breathe. And I don’t have to count every single penny, although I am.

Switching to a cash only budget has made a big difference to me. There’s something about seeing the dollars in my purse dwindle that keeps me from spending on things that are wants rather than needs.

There is definitely something about seeing positive numbers in my forecasting and money in the bank that is very motivating. What keeps you motivated?


March Challenge Plan

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WhileI’ve now broken down my house by room, by closet and by cabinet space. Scheduled my #declutterchallenge is bite size pieces to assure my success. I put them on my Asana to do list with due dates. So I am all ready to get started.

I also organized a place to put the clutter I will be getting rid of. I have a cardboard box for the things that will be going to the thrift store, a trash can for the UN-donateable and a place to pile those that will be handled in some other way (send to someone else, scan papers or take pictures of things before I get rid of them, etc.)

While I am encouraging the kids to participate in this challenge in their own space; although, I’m not forcing it at this point. But I am really looking forward to a fresh new look and feel to the house as we remove the things we don’t need AND organize those that we do at the same time. This is definitely a labor of love!

How Will This Challenge Help?

But I know the BAD community is asking…what does this have to do with paying down your debt?

First, I there is something about having a clutter free, organized space that alleviates a great deal of stress. I’m pretty sure there is research backing that up. But I know this is a fact for me. And the less stress I have, the more apt I am to make good financial decisions.

Second, being organized really helps me avoid duplicate purchases. If I know where things should be and know if we have them, I will not re-purchase. The latest example of this for us is Chicken Noodle Soup. Somehow we ended up with 2 cases from Sams. And we are all tired of Chicken Noodle Soup – very!

Third, these monthly challenges are really working in keeping me focused. I mentioned in the comments recently that I am loving seeing my back account grow. While I believe know we will continue with eating at home a lot more, I need a new challenge. I did see someone else challenge their audience to start saving for retirement, but I’m not there yet. Paying down debt is my #1 goal, so this decluttering challenge is a step towards that.

Are you ready for the March #declutteringchallenge? What is your plan of action or are you just taking it a day at a time?

 

 


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