Ok, so I'm pleased with myself. A long time ago I decided that the system that worked for my hubby wouldn't work for me, so I watched him pay his bills, save money and become debt-free. I think I'm a bright person, although I don't have a masters degree in Economics, so I still thought I could do it on my own. Strike "I'm a bright person". I'm a stubborn person who decided I could do it on my own. How wrong I was.
The first thing I did was realize that a checkbook is a lie. You put your money in, the balance looks SO good and you spend it all. Then to make it through the rest of the month, you beg, borrow, steal and use credit cards to fill your gas tank.
The very month I decided to try things my husband's way thing dramatically changed. I get paid once a month and I know the bills that I pay electronically. Everything else I withdrew is CASH. I set up envelopes that had tags like: groceries, gas, Rx, car maintenance, subscriptions, savings and vacation savings, and I divided the cash up. The first month I freaked out thinking I didn't have the gas envelope or the food envelope with me, but it worked out. I paid my credit cards electronically, moved a few dollars from checking to savings and moved on. You know what? It worked GREAT! I didn't spend money I didn't have and I didn't touch my credit card even once. I even began tithing to my Church for the first time in my life.
My debt is now down to less than $2500 dollars! It started at $7000, so we're not talking petty cash here. We chose to pay for my truck in cash, but Jim pays a car payment on his new car (until he gets tired of writing that check and sells some stock). As a couple, we are in really good shape financially. The only thing he owes his his new car and a few hundred dollars on credit cards, and I only owe $2500. No mortgage, so loans...clear sailing here kids.
I am so grateful that Jim has a great job that he is in no danger of losing, and I, being on disability, hope it keeps on coming. But the truth is, if we lost either one of both, we'd be ok. We'd probably cut way back on things (we aren't real big spenders anyway) but we would be okay. We have everything we need-a warm home, a year's worth of wood pellets for the stove, a good pantry of food--but most importantly, we have each other and we both know how to live frugally. To hell with the what the neighbors have!
The first thing I did was realize that a checkbook is a lie. You put your money in, the balance looks SO good and you spend it all. Then to make it through the rest of the month, you beg, borrow, steal and use credit cards to fill your gas tank.
The very month I decided to try things my husband's way thing dramatically changed. I get paid once a month and I know the bills that I pay electronically. Everything else I withdrew is CASH. I set up envelopes that had tags like: groceries, gas, Rx, car maintenance, subscriptions, savings and vacation savings, and I divided the cash up. The first month I freaked out thinking I didn't have the gas envelope or the food envelope with me, but it worked out. I paid my credit cards electronically, moved a few dollars from checking to savings and moved on. You know what? It worked GREAT! I didn't spend money I didn't have and I didn't touch my credit card even once. I even began tithing to my Church for the first time in my life.
My debt is now down to less than $2500 dollars! It started at $7000, so we're not talking petty cash here. We chose to pay for my truck in cash, but Jim pays a car payment on his new car (until he gets tired of writing that check and sells some stock). As a couple, we are in really good shape financially. The only thing he owes his his new car and a few hundred dollars on credit cards, and I only owe $2500. No mortgage, so loans...clear sailing here kids.
I am so grateful that Jim has a great job that he is in no danger of losing, and I, being on disability, hope it keeps on coming. But the truth is, if we lost either one of both, we'd be ok. We'd probably cut way back on things (we aren't real big spenders anyway) but we would be okay. We have everything we need-a warm home, a year's worth of wood pellets for the stove, a good pantry of food--but most importantly, we have each other and we both know how to live frugally. To hell with the what the neighbors have!
No comments:
Post a Comment