Thursday, July 31, 2014

Let's Take A Moment...

Next week I'll be talking about the first step in Dave Ramsey's Total Money Makeover but before then I wanted to explain why I'm sharing this with all of you.

For one it's my blog so I can write what I like and at the the moment I happen to like, a lot, this get out of debt plan.
Apart from that I'm very passionate about being money savvy if not for you then for your children. I got sick of not being able to do what we wanted because of the debt we had. That's not to say we haven't done a lot, you all know about our recent vacation, but if we stick to the monthly repayments that vacation will take us seven years to pay off meaning that for the next seven years we will not be able to afford to do much of anything. Stay tuned though because soon you'll hear how much time we will be taking off that loan contract using this plan.
It's important to me to teach my children the money lessons I wish I had been taught so they grow up understanding how it works and how it can work for them instead of holding them back.

I wanted to put in to words what may be hiding from some of you. It is often so hard to see past the bills that you just accept that having debt is a way of life and that it is completely normal.

In a way you are right debt is so normal it's scary!

It doesn't have to be.

Honestly what does it hurt if your car is ten years old instead of ten days off the ship?
Are you really going to shrivel up and die a horrible death if you don't get the newest iPhone as soon as it hits the stores?

Are you seeing what I'm saying? The only person that matters is YOU! Do not let peer pressure, societal pressure or parent guilt dig you into an even bigger hole of debt. You're friends won't help you out of it, society will just offer to help dig you in even further and your children won't thank you if you end up leaving all your debt to them when you pass on.

Think about how much you pay each month to other people. Rent/morgatge, insurances, groceries and utilities not included. Add up all your credit card bills, phone contracts, loan repayments and look at that number.

How much of your hard earned money are you giving to other people??

Now think about what you could do with that amount of money each month if you had no debt.

A fully funded retirement package so you can take that motorcycle trip around the USA with The Husband instead of living week to week on a pension.

Paying off a family home in under twenty five years so you have some security to leave your children.

Saving for a college fund/house deposit/car for your children for when they graduate high school.

Actual savings, cold hard cash, in the bank ALL THE TIME!!

I don't know about you but I'm smiling at the possibilities.

If you're smiling along with me then you get it, you understand that debt is dumb.

This plan works for everyone some may get through it quicker than others depending on circumstances but everyone who is willing, who wants to do it, can! There should be no excuses if there are then you're not committed.

Debt may be normal but being normal is boring so let's be weird and different together.


- Posted using BlogPress from my iPad

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