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Written by Cheri Shine
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Monday, 01 March 2010 16:32 |
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As many of you know, I decided to revisit our finances in January with the start of the new year. There have been so many changes over the past two years, that a financial check up is much needed.
At first I struggled with the decisions. It's hard to look at the budget each month and realize it's not what it used to be. I had to overcome my own fears and frustration before I could really move forward with new budgets and ideas that made sense. The key was not to give up. I kept putting the numbers in front of me until I got comfortable with the obvious choices. These are the same choices I knew were needed months ago, but I had to get to that place where I could move forward. Last week, I was finally able to let go. Since the major debt we have is mortgages, we have listed one of our properties for sale. The proceeds will help us pay off several other mortgages and clear out 30% of our total debt.
We've also gone through the entire house and pulled out stuff for a huge garage sale during March. It's freeing to know that we are going to reach the goal of financial peace by taking steps to secure the future even though we've suffered like many due to the economy.
Now I'm on a roll to see how much we can accomplish in 2010. I have one more big property to work out. We are torn between selling it or changing direction with the tenant base. It's a tough decision because either way has risks. However, we are weighing the risks while increasing our knowledge so that we make the right decision. We've even set a target decision date for June 1.
To stay motivated, we've pulled out the basics again. We've been listening to CDs on debt freedom and investing. I've also decided to return to the classroom, so I'm taking Dave Ramsey's Financial Peace University. Staying on track even after doing the program for 15 years is key. I'm looking forward to 2011 now with renewed hope. |
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Last Updated on Monday, 01 March 2010 16:55 |
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Written by Cheri Shine
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Friday, 18 September 2009 15:56 |
What got you here? Feelings of frustration, anxiety, and anger? It is common for us to have a lot of negativity in our lives when we start our journey to debt freedom and financial independence. We have watched our finances get out of control and then watch the impact on our life as it too spirals out of control under the burden of debt. But, I say rejoice. Be grateful because it is that negativity that brought you to this point. The new beginning.
As you start your journey, you feel a sudden relief. Something about the decision to change gives us a new lease on life. Yet, Murphy's Law is ever present. You will have challenges and obstacles, but I say embrace them and realize that gaining control over money means control during good times and bad, especially bad. Consider every obstacle a lesson about handling money. Most importantly, keep your eye on the future. Visualize your life when your paycheck is just that YOUR paycheck.
Attitude is key. Rather than dwell on your bills and financial issues, focus on money flowing into your life. Be open to the opportunities that will present themselves for added income. Visualize making larger payments on those bills and seeing those balances at zero. Adopt an attitude of gratitude for the life you will have when you can live freely and help others when they are in need. Feel the joy of debt freedom now by acting as if you are already there. No debt, plenty of emergency funds, and the peace of mind that comes with it.
You've all heard the phrase, "fake it 'til you make it." Make it a part of you daily routine to practice a debt free lifestyle. Dream a little. No, dream a lot. See yourself depositing into your savings account, see yourself writing that final payment to credit card, see yourself making investment choices. Focus on how good that feels. And, see yourself handling an emergency without any anxiety because you have that financial freedom.
Staying focused on your future will ensure you stay on track. It will give you the strength to face every obstacle head on knowing that you are on a journey that will give you more peace of mind than you can imagine. But you must imagine it. The journey for some is long and the learning required so we can build that healthy relationship with money. So that we control money and stop it from controlling us. |
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Last Updated on Friday, 18 September 2009 16:19 |
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Written by Cheri Shine
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Thursday, 27 August 2009 01:15 |
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Seems that while economists are saying we're turning around, the job losses seem to be continuing. So what happens when you loose your job in the middle of your debt elimination planning? First things first. Revisit the budget just like you did when you started. Decide how long you can survive on unemployment benefits and emergency funds at your current level of spending. You'll then need to evaluate your skills and the market place. Will you find a job before the funds run out? If not, it's time to cut back again. Put together a plan B now rather than later. What are your options if you can't find work quick enough. Will you have to sell your house and move? Do you have relatives who can help? Start looking for free resources now. |
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Last Updated on Thursday, 27 August 2009 02:04 |
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Written by Cheri Shine
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Monday, 07 September 2009 00:19 |
How To Trim The Budget For MealsI've became hooked on convenience foods, not just fast food, but all those frozen dinners too. Our cost per meal was skyrocketing with lattes, lunches out, as well as gormet frozen dinners. I'm not a good cook, or so I thought, and it certainly was easier than making a mess every night. Sound familiar? I've recently tried to get a better handle on our food budget. Lattes are now made at home and taste great. The cost savings is surprising even with the special creamers. A can of ground coffee lasts me two weeks and costs only about $6, add two bottles of creamers for about $3.50 and a gallon of soy milk for another $6 and for the price of 2 trips to Starbucks, I've treated me and my husband to two weeks of delicious eye opening daily drinks. That's a savings for us of about $200 per month. That was a truly bad habit and I'm glad to have it behind me. |
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Entertainment On The Cheap |
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Written by Cheri Shine
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Tuesday, 25 August 2009 16:57 |
Saving Money And having FunI've asked many friends and colleagues to share ideas for date nights and family fun time that doesn't break the bank. Let's face it, dinner and a movie can run $75 or more for an average couple out on a Saturday night. So how do you have fun special times and stay on budget? Several people commented about going to the museums on the days or nights they are free. Most every major town has a week night or monthly night where the museums are free to the public. I did a quick search on the web for Dallas museums free and found listings of the dates and times when several local musuems are free. So make a date night during the week and enjoy a bit of culture for free. One museum even has a night under the stars during summer where the symphony music is free. Take your date or the entire family out for a night of music free. |
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