BALANCE AND JOY THROUGH INTENTIONAL LIVING
How we manage our finances day to day and the financial goals we are aiming to acheive.
Paying off debt is not an easy feat, even if the balance is on the smaller side. With all of the shiny things that are dangled in our faces day in and day out, prioritizing debt payoff instead of acquiring it can be challenging. What we’ve found is that making the process fun and as interesting as possible helps. We’ve found that these 5 tricky ways help us speed up the process without getting overwhelmed.
Continue reading “5 Tricky Ways To Speed Up Your Debt Payoff”
As I journey toward simplifying my family’s life, I have had to evaluate just about every aspect of our existence. Finances did not escape this exercise. In fact, finances are probably one of the most affected areas of this minimalism journey to date.
One day I looked up and realized that we have 3 mortgages and far too many bank accounts. I’m not suggesting that this financial picture happened without my knowledge, but sometimes you’re just living life without pausing to take inventory.
Continue reading “Minimalism Happened To Our Finances And Simplified Our Budget”
A year and a half ago we decided to begin our debt free journey. A year and a half later, we’ve paid off everything except the mortgage of our primary residence. The journey is far from over because we want to be completely debt free and there are other things that we need to work on before we can focus on the mortgage. It’s time to take a look at where we are now and next steps in our financial journey.
Continue reading “Where We Are Now And Next Steps In Our Financial Journey”
Each month ( at this point, it’s on occasion 🙂 ) we will share a monthly debt update to document our progress and use it as a way to reflect and keep us accountable and motivated. We’ve been gone for a minute, but we’re back! With an update… Things have been busy, full of wonderful adventures and loads of love. We are working so hard to eventually be debt-free. That combined with having two toddlers has been tiring. But when we accomplish a milestone, it makes it all worth it.
Each month we will share a monthly debt update to document our progress and use it as a way to reflect and keep us accountable and motivated. March was an exhausting month. They all seem to be these days. But what keeps us going is the opportunity to actually have options…eventually. So we keep pushing, keep making these debt payments because we see the progress. And it is so motivating.
Each month we will share a monthly debt update to document our progress and use it as a way to reflect and keep us accountable and motivated. We are making steady progress and things are feeling like they are on autopilot. Tax season is here, so we’ll eventually need to take a step back in order to pay our tax preparation fees. We’ll cross that bridge when it comes.
I’m finding it harder to make financial plans, which is completely opposite of my normal way of operating. But setting money aside to pay for future expenses makes me anxious because I just want to put everything toward debt immediately. So lately we pay for things when they come up instead of saving for them and having it ready in advance. I am only comfortable doing this because we have an emergency fund. Emergency funds are extremely important. If you don’t have one, start creating one now.
Each month we will share a monthly debt update to document our progress and use it as a way to reflect and keep us accountable and motivated. We’re getting so close to being rid of rental #1 and we are so excited. We’ve been side hustling, working extra hours, and really ramped up this month. We had 2 windfalls – stimulus and a reward at work – and both went to the mortgage. They really helped propel us to under the 10k mark.
There are many philosophies on money out there and just as many philosophies on debt payoff. We choose debt freedom over investing because it works for the lifestyle we aspire to have. As we wrapped up 2020, we spent time reflecting on the year we had and planning where we want to go. It’s time to hone in on our goals so we set a good pace for ourselves in 2021.
Some use debt as leverage to amass more wealth. Think of the real estate investor who has lots of debt in the form of mortgages but even more equity in the properties. There are certainly ways to become wealthy using debt.
Others prefer to use their disposable income to invest in the market and grow their nest egg first, then deal with the debt later. Investing well and with the market on your side, you could potentially make even more money than you owe and be able to pay off the debt, if that’s what you desire.
Then there are those who work on both simultaneously. They split their focus and set money aside to invest and pay the debt. While others think that debt just comes with adulthood and something they will always have.
Continue reading “Why We Choose Debt Freedom Over Investing, For Now”
Each month we will share a monthly debt update to document our progress and use it as a way to reflect and keep us accountable and motivated. We were able to pick up some steam this month, which is exciting. My company allowed us to sell back double PTO this year due to COVID-19. We took full advantage and all excess went to debt.
Haircuts have always been important to me and my brothers. I have three siblings; one sister and two brothers. I’m the youngest. Growing up, to my brothers and me, nothing felt better and made us feel more confident than stepping out of the barbershop with a fresh haircut. A perfect line up and a little hair spray make you feel complete. But Simone and I are on this debt-free journey and regular haircuts are a personal sacrifice I have made to trim our budget.
For the first seven years of my life, my mom put me in a high chair on the back porch and cut my hair. I had a 4-inch afro back then. She’d trim a little off the top with her clippers and that was that. My brothers got the same specialized haircut.
As my brothers got older, they started asking my mom for professional haircuts. Eventually, she said yes and we all started going to the barbershop every other week. Thanks brothers!
Continue reading “An Interesting Personal Sacrifice I Am Making For Debt Freedom”