A mere 18 months ago my wife and I finally got fed up with making payments to the man. Before that we were worried about our credit score which is not an indication of financial stability but rather how good you are at borrowing money and making payments. Our score was awesome but our new goal is to someday have a credit score of zero. Inside of 18 months we have payed off $15,000 in debt, saved over $6,000 and purchased a new furnace in cash. How? Well we made huge changes to our lifestyle and I picked up as much side work as possible. Paying off debt and saving money like that does not come easy, it’s a huge commitment and must be something you really want. There’s no magic bean.
We’ve done so much to cut back the money we had going out the door as previous to this we were spending more than we made. Cable was one of the first things to go. I sold my truck and opted to drive an old company work van. Sure it’s not pretty but it’s paid for and considering how terrible of an investment cars are I’m fine with it. Not to mention I really could care less what others think. Going out to dinner is for special occasions or date nights only. We budget each month to the penny, we know where every dollar is going usually before the month begins. We’ve saved tons of coin by buying used kids clothing. My wife has saved hundreds of dollars by finding great deals on name brand kids clothes. Why pay $29.95 for one Gap Kids shirt when you can get one for a $0.25? These among other things are what is helping us to pay off our stupidity.
So, what’s next? Well our desire is for my wife to be at home with the kids. Our oldest would attend preschool part time still as there are so many benefits to your kids being in a school setting. With a new business that I started less than a year ago debt freedom and my wife at home is clearly in the future and to get there quicker we will cut our spending even more.
One of the first things to go is Internet. I am far too connected to the digital world so our home Internet service is going bye, bye which will save $65 monthly. Our monthly pest control fee of $42.40 will be cut, they just come and spray chemicals all over your house anyway, I’ll search for a healthier, crunchier way to keep pests at bay. The last big cut will be my wife’s cell phone bill. By switching to Straight Talk she will still have an iPhone with unlimited data, text and talk but will pay only $45 which is half of what we currently pay to big red. So these 3 cuts will save us $150 monthly plus we have several other small cuts and the big savings of day care.
So my digital diet will rid me of my Apple TV, Nest thermostat and wireless printing but it’s for the greater good. My life is becoming far too involved online and I’m ready to take it back to the crunchier days. Perhaps I’ll crank up the Phish while we garden as a family.