Hi Fit Family!
I have said before that I strongly believe you are not completely healthy if you are stressed about money & finances, no matter how "fit" you may look. Many of you know that my hubby and I have been on our "get debt free" journey for quite some time now. In the last year or two, I'd say we've gotten more serious and taken it to a whole new level.
We took a Dave Ramsey "Financial Peace" course in 2017 at a local church. After that class, we sold our big house with a big mortgage. Even the teacher in our group was impressed we were taking it to a whole new level. Most people just cut up credit cards.
Being a family of three, we realized we weren't living in half of the house. The house had five bedrooms, a game room and a movie room. We only watched two movies in that room during an entire year. We listed the house on the market in January 2017. Our friends and family thought we were slightly crazy because we hadn't been in the house that long. I had also done the math and figured out we'd save $50,000 in taxes in 10 years, just moving three miles away to a lower tax area. Crazy!
After all, we all go to the same grocery stores, drive the same streets, workout at the same gym. Why should I pay more in taxes just to tell people I live in a certain subdivision? It's ridiculous.
Something that I struggle with as a "natural spender" is not setting a budget, but sticking to it. As in, pulling out cash and paying cash because it hurts more. Also, I have realized that I cannot use a credit card. I have that "I'll pay for it later" mentality and I now know that it does not serve my goals to carry a credit card for daily/weekly expenditures.
We have been "debt free except for the mortgage" twice now, but we also have goofed up and used credit cards after or done "zero percent interest free" offers. Stupid stuff. We know better.
We are SICK OF IT.
A big part of my journey has been changing my money story. In other words, what story did you grow up with? What were you taught about money? It's often ingrained in your mind and you aren't even aware of it. Mine was this: "Money doesn't grow on trees. Money is stressful." So naturally, once I had it, I wanted to get rid of it. As you can imagine, this doesn't help someone build wealth. After reading several books about personal finance, I am now aware of where my money story came from, how it wasn't really mine (but someone else's) and how I MUST CHANGE IT in order to move forward.
When you owe someone else, your paycheck is not yours.
I want to just be more transparent about this journey so that it inspires other people to pay off that car, credit card, student loan or house.
I love having nice things, trust me. But "things" don't replace peace of mind. Things can clutter your house and your mind.
I figured out that over the last 10 years, Kent and I have paid off about $114,000 in debt. We still have some to go and we have to adopt new habits to KEEP OURSELVES DEBT FREE once we get there again.
I will be tracking my journey here (and weekly) on my new Instagram page: Debt Free Fit Mom.
I chose the name because that's where I am headed and I am speaking it into existence. I believe in affirmations and mine is, "I am debt free. I can give freely without worrying about money and my family has more opportunities to create experiences. Money is a tool."
I hope you will join the fun there.
Stuff We've Paid Off:
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