Sunday, August 21, 2011

6 Months into this Journey

I started blogging about my journey to become debt free about 6 months ago.  In that time I have established a $2000.00 emergency fund, paid off a student loan and a credit card.

To be able to do this I sold somethings I had around my house that I didn't really need.  I have received many blessings from friends and family that have helped me greatly.  The biggest thing that I did was change the way I viewed and spent money.  Changing the way I view money is an ongoing process.  To tell you the truth I am a little worried about what will happen once I am debt free.  So I continue to read and learn so I can educate myself so I don't make the same mistakes that got me in the debt mess in the first place.

Part of the changes I have made include basically a shopping ban (of sorts) on things I know I don't need.  That is a huge thing, by the way,  identifying needs vs wants.  

Things I spend money on at the moment include necessities such as food, regular household bills, gas for the car, pet food and healthy treats, and I also allow myself a little extra for entertainment.  Entertainment can include coffee or other "treats", outing with friends, race fees (for running) or other such activities.

Things I am doing to be able to put everything extra towards my debt include using up all the extra shampoos, body washes and such that have been hanging around, not purchasing any clothing (I have made one exception to this - see below), cutting back on regular household bills, saying no to outings that don't fit in the budget, reducing driving, using the clothesline instead of the dryer when possible, reducing gift giving and be conscious of spending. 

The one exception I made to not purchasing clothing was buying this cute skirt at the thrift store the other day.  It was $1.00.
I was at the thrift store to try to find some curtains for when my relatives come to visit.  I found some for $2.00.  I was also able to pick up a lamp that wasn't needed but will certainly be useful to them for $2.00. 

What are you doing/did you do to help you pay off your debt?
Posted by Little Lamb at 7:55 PM

11 comments:

  1. MichelleAugust 21, 2011 at 10:27 PM

    Wow good job! I'm trying to keep track of my spending better and improve my budgeting. My blog will hopefully help me with this.

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  2. AnonymousAugust 22, 2011 at 2:57 AM

    Wow great job! What a difference 6 months makes :)

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  3. Tasmanian MinimalistAugust 22, 2011 at 4:05 AM

    Little Lamb, $1 is a small price to pay for such a cute skirt. You deserve to pamper yourself, it doesn't matter if it was only a dollar, in fact that makes it more special because you stuck to your rules and you got yourself something great XX

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  4. NikiAugust 22, 2011 at 8:28 AM

    You are doing such a fantastic job for sure. You have the determination, you will be just fine once you're debt free, but I know exactly how you feel.

    Love that skirt, completely worth it.

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  5. ~Carla~August 22, 2011 at 10:17 AM

    Love the skirt!! $1.00?! Score! lol! You're doing soo good!! :) I was the same way, I cut back the "extras" and just kept my eye on the "prize".

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  6. RafikiAugust 22, 2011 at 10:57 AM

    I'm reading blogs like your's and learning everyday :)

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  7. Counting all my stars and saving itAugust 22, 2011 at 8:51 PM

    You are doing very well with your milestone. I'm sure once you're debt free you will realize things are so much better that you do not want to find your way back into debt.

    Rafiki is right I too am reading and educating myself more and more everyday even if sometimes it's the same ol' 2 step. It's still a reminder.

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  8. AnonymousAugust 23, 2011 at 5:33 PM

    Way to go! Pretty impressive stuff for only 6 months in. Imagine where you'll be in 6 more!

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  9. JaneAugust 25, 2011 at 7:17 PM

    I love that style of skirt - so flattering...and easy on the wallet too:) To help pay off my debt I nag everyone about electricity use, only have 1 car for 3 adults, only shop at thrift stores:), set a budget for food and gas and when the money's gone we're done shopping and driving. I've upped my debt payments and have NO credit card debt. I drive an older car and have no car payments. Lower car insurance too!

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  10. AnonymousAugust 29, 2011 at 11:23 AM

    I love hearing someone else has realized that it's not the actions regarding money that matter most - it's the attitude! Distinguishing wants from needs is HARD sometimes (but... I need shoes!) but it sounds like you're doing a bang-up job!

    For us, debt reduction is mostly sticking to our allowances. We try to be conscious of our energy use, but we've had a summer roommate who's just a power-hog. I think come winter, when our hydro bills skyrocket, we'll become more aware of the little differences we can make.

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  11. AnonymousSeptember 8, 2011 at 11:01 PM

    Thanks for stopping by my blog recently :) Your comment accidentally went into my spam folder, but I found it today!

    I really admire your minimal spending habits, I wish I had that much control!

    ReplyDelete

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