DEBT PAID is such an awesome feeling!!! Better than ever charging anything on a credit card. In fact I actually felt the opposite when I spent on a credit card. I would walk out of clothing stores after spending too much money with an awful ache in the pit of my stomach. I know there are some out there who find spending a thrill. This is NOT me. I find spending nauseating and I find being in debt suffocating.
I thought it was necessary. I thought it was just what everyone did. When in reality, it’s not what everyone does, but what has become an acceptable practice in today’s society. That and the credit card offers came in abundance since we always paid our bills on time. And I spent on those cards to receive discounts and award points. What a waste of money! Because of my poor spending, I’ve never benefited from those discounts or reward points and I always paid many times more for my purchases due to the high interest rates. And yes, 15% is STILL a high interest rate.
No savings. 😊 I know some think you should start off by saving up a certain amount of money first and then begin paying off your debt. Not me. I decided to start paying off my debt by… paying off my debt. 😁 Not that I think a savings is a bad thing. Certainly not! And I can’t wait until the day my debt is paid off and I can finally have a savings. But I haven’t had a savings in almost thirty years so I figured that savings can wait a few more years until my debt is finally paid off.
Definitely! Not only was I able to pay down over $11,000 of our debt, but I was able to pay unexpected expenses in these seven months as well. Joe’s car needed over $700 worth of repair in May and I forgot to budget for the chicken feed and the dental bills which we incur a lot of. Adding the chicken feed to the budget was simple because that cost doesn’t change. However the dental bills are a little more of a challenge since the cost changes often. But still easily paid because whenever an unexpected expense came up, we simply didn’t pay as much to the debt.
MY MINIMALIST BUDGET
I reviewed a few other printable budgets and couldn’t find what I was specifically looking for so I decided to write up one of my own. It’s now available in PDF for you to use as well! It’s super minimal, super simple and super free! 😍 It lists all expenses and the three accounts I recommend. To see how I manage these three accounts, watch my video LARGE FAMILY MINIMALIST BUDGET.