The
road to financial freedom is as challenging and painful as it is rewarding and
life transforming. Wimps need not
apply. If you are not willing to give up
your old lifestyle, you will lose. You
cannot expect to keep doing the same things and get out of debt. It doesn’t work that way. Sacrifice is not a four letter word. Don’t be afraid to deny yourself.
When
my husband and I started our hardcore commitment to getting out of debt we cut
out a lot of non-necessities. We ditched
our basic cable and internet, we cut my husband’s data package on his phone (I
never had one), we car pooled to work, we denied ourselves fun money ($100 each
per month) and we said “no” a lot more to eating out, travel and
entertainment. So we eat more ramen
noodles. We see our friends and family
less. We are dependent on the library
for movies and books.
In
exchange for the sacrifices we make, we know we’re going to be out of debt by
the time we turn 35, mortgage included.
I will be able to stay home with our future children. We will be able to make our travel dreams
come true. We’ll be able to be generous. We’ll know our kids will have an adequate
college fund and we’ll have fully funded retirement accounts. With 5
years of sacrifice we’ll be set for the rest of our lives. Seems like a small price to pay.
But
many cannot stand the thought of not having everything they want when they want
it. So they go into debt to have it and
make poor decision to continue their behavior.
I know how this goes because I used to be there. Start small.
Give up one luxury. Learn to live
with less. Each step you take away from this
old life brings you closer to the new life you are shaping, debt free.
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