So here I am. I’m going to attempt to pay off my student loans in the next year in addition to getting rid of my car payment. I will be officially debt free after that. I literally can’t imagine what it feels like to have no debt.
Part of my problem is that I don’t make huge purchases that take huge chunks out of my bank account. I have a lot of small purchases that add up and I’m left with a lot less money at the end of the month.
My solution to this is to have a “no spending” month. I’m also going to start my cash envelope system as well to pay for the necessary food and gas (I unfortunately do not live in a city where biking and public transportation are safe options to go to my job). I will have to make do with what is already in my possession. I will only buy food when I run through what we already have in the house. I will also buy in bulk when possible and make the majority of my food from scratch to help keep costs down. My fridge inspiration can be found here.
My goal is to try it out for the month of July and to write about it publicly and as frequently as possible. I want to remember the difficult moments as well as the awesome moments. I would like to continue the trend past July, but I’m starting out with a smaller goal per Leo Babauta’s advice.
- Carpool to work with Mr. Fancy to cut down on gas consumption.
- Empty my fridge and pantry as much as possible before going grocery shopping.
- Ride my bike to the grocery store when possible.
- Ride my bike to my parents house.
- No more buying cute bags and jewelry at the arts market (sad face)
- Try my hardest to find a substitute or just do without before buying any necessities around the house.
- Never, never, never buy lunch at work (I’m already good about this but I tend to splurge if I’ve had a bad day or something).
- Only get books from the library on my kindle. No more buying kindle books.
- No iTunes purchases.
These are my starting points. I will undoubtedly add more as the month passes. Wish me luck!