Saturday, April 28, 2018
Working Our Way Back From a Financial Blip
DH and I technically have debt from the no interest car loan, but have the money set aside to pay it off from the years we continued to make a payment to ourselves after an old car was paid off. We do not have any other consumer debt. We have regular bills, property tax and home owners insurance but no mortgage. This post probably will not resonate for those of you working hard to get out of debt. However, we have financial set backs and expense fiasco's like any family. While we are not having to pull out the credit cards or take out a loan, dipping into savings that were intended elsewhere for unplanned expenses can feel raw as well.
Besides our annual spending plan which included an intentional reach into savings of $13,000, this week we identifed an estimated $3,600 more in expenses for the year to plan for. Ouch. While this new $3,600 isn't added debt, I want to try and tackle it as if it is. Those of you winning that war against consumer debt will be my inspiration. To accomplish this beyond our original savings goals will be tough, but I need to treat it as a debt. Technically it is a debt against our own savings account.
My challenges to myself will need to be more than a game if I don't want to dip into savings or cut more home improvment plans. Gifts need to be considered thoughtfully, not just slap dashed on the run. Thrifting the few summer items we need will be a must, even if it takes a bit more time to see what might come in. We need to look at entertainment that supports paying down debt like taking advantage of happy hours, or just long walks along the river, which we love to do anyway. I need to learn from others how to bring in extra cash. Yard sales? Facebook resell sites? You tell me. What are your most lucrative, yet time worthy, schemes for bringing in a bit more cash?
Things are on the upswing. I found 11 cents on a walk with DD2 and pup. $3,599.89 to go!