When I posted my 2011 Intentions and Goals (some people would call them New Year’s Resolutions but I prefer intentions/goals), my number one priority was to pay off my credit card debt.
I am thrilled to report that my American Express has been paid in full! A hefty five-figure sum. Paid. The weight of the world on my shoulders has been lifted!
The reason I had credit card debt in the first place was fallout from an ill-timed real estate transaction in Phoenix. I never clicked with Phoenix and you can read about that story here, but it was a life lesson. A learning experience.
I learned what I place value on, that I adore San Diego, the beach, the weather, the friends I have here, and the life I’ve built here. Those things matter more than home ownership just for the sake of owning a home in a city that wasn’t for me. Different strokes for different folks.
But in order to buy the home I bought (and have since sold), I racked up lots of credit card debt. I put things on my credit card that I never should have, but hindsight is 20/20.
Going into 2011, I know my #1 intention was to pay it off. And I did! And I will never repeat the same actions that got me into the bind I was in. So, I lived, I learned.
I am now debt free:
No credit card debt
No mortgage
No student loans
No auto loan (one car is paid for, the other is leased, but I don’t consider this true debt)
No other loans
No money is owed to anyone
And that is all a great feeling!
Intention #1, however, was two-fold: paying off debt and saving money. And I am happy to report that I have also saved quite a bit of money, too.
I don’t talk about my paid work, but I work like a dog and have been fortunate enough to squirrel away some savings the past few months. Like the animal references there? Being able to save money has made me feel so productive and that all my hard work is going toward something and like I am accomplishing things, not just working to get out of debt, and pay our day-to-day bills, but also to save.
Enough talk about my financial life, let’s talk about what I’ve been eating.
Fresh pineapple. It was on sale at Target for $2.49 for a whole pineapple. Score.
Need tips on how to clean & slice a whole pineapple? Here you go.
Some Vegan “Lentil & Bean” Sloppy Joes (no bun) with a salad
I dressed the salad with Vegan Slaw Dressing
I also had a couple No Bake Oatmeal Raisin Carrot Cake Bites
From my last post about possibly getting an iPhone, thanks to everyone who chimed in on whether you have one, if you want one, if you like your iPhone, and giving me the pros as you see them to iPhones. As I had said, learning to use the touchscreen after coming off years of Blackberry keys is a concern, but most of you said it’s not that bad. An iPhone may be in my future.
Dessert: GF Peanut Butter Marshmallow Bars with Vegan Chocolate Frosting
If you like butterscotch chips, peanut butter, marshmallows, and chocolate, then this recipe is for you.
Questions:
1. Are you debt free? If you have debt, how does it make you feel?
I think most Americans are drowning in debt! I don’t really consider a mortgage, or an auto loan, as true debt. We all need someplace to live, and most of us need a car.
The debt I am referring to is from major credit cards, department store cards, student loans, personal loans, or other loans or debts you have incurred.
Debt for me is very heavy on my heart, mind, and spirit. I don’t feel free when I own (large) sums of money. Even though I didn’t think about it every day, I thought about it most days, for the 18 months or so that I had credit card debt and I hated it. I hated that I had used less than stellar judgment and got myself into debt and that I had to work extra hard just to get out of it; to remove something that I could have avoided all together.
Life lessons and a learning experience, though.
I did a post on Life Lessons and #4 on that list about repeating a lesson in life until you learn it. Well, I have learned. Now I can move on to the next lessons my life has in store for me.
2. Are you doing anything to save money?
I think that, again, most Americans are not only drowning in debt, most people don’t have any money saved!
If you, your spouse, or anyone who is providing you financial support cut you off tomorrow or you lost your job tomorrow, what money do you have saved and how long could you support yourself? Did you just have a panic attack thinking about that because you realize not very long and that you have zilch saved? Thought so.
Whatever you need to do to start saving money, be it buying conventional produce not organic, quitting your Starbucks habit and brewing coffee at home, not impulse buying cute dishes or random items at Marshall’s, using these tips to save money on your grocery budget, wearing old workout clothes and not feeling pressure to buy the latest and greatest brand name or current trend, telling your spouse/significant other you’d prefer to skip gifts for birthdays, holidays, anniversaries and just save money instead, whatever it is, you will feel better with something in your bank account than wearing the latest yoga pants or that your significant other bought you roses for your anniversary that cost $40 bucks and will die in a week.
Sorry if that sounds harsh. It is. But saving money is hard and can be harsh. Do what it takes is my approach.
However, as with food and exercise and lifestyle choices, we all must make our own financial choices and decisions, too, and do what’s right for our own situation.
And, of course, there are some things that are worth the splurge and we all have to decide what that is for ourselves. Depriving ourselves all the time backfires. There is a balance between fiscal discipline and deprivation. Like me wanting to buy an iPhone and deciding if that’s the right decision for me, at this time.
Talking about money, debt, savings, planning is hard because it hits nerves but we need to talk about it and acknowledge it and plan accordingly. Where are you at with these things?
That has to feel SO amazing, congratulations for being debt free!!!! Fortunately, I don’;t have to deal with all those debt-monsters yet..but I can only imagine how much of a burden they are.
I don’t have an ounce of debt. I started saving money when I was 12 by sweeping hair in a hair salon for $7.50/hr. I received bursaries and scholarships throughout University. I’ve been responsible with my money.
I feel fortunate that I have financial security, even as a Graduate student. I am lucky that financial responsibility was taught to me at a young age. I don’t imagine I will ever be in debt.
Ahh, I hate thinking about this =( But I’m currently working my way through school and the only way that it is possible is to take out federal loans and I am already $16,000 in the hole. It stresses me out beyond belief when I think about it. As far as saving money, I try to only use my paychecks and not touch my loan money. That’s my emergency money. I try to go shopping for clothes once a semester and limit myself to consignment shops or go to major stores when they’re having a semi-annual sale.
Good for you for paying off all of your debt. I can’t wait until my day comes.
Congrats on being debt free! Currently, I have a mortgage that I am hoping to have paid off one day. I recently paid off my student loans and I rarely use a credit card without paying off the balance immediately. Having a home has taught me financial discipline and delayed gratification.
Congrats!! That’s huge!! Must feel like the biggest weight ever has been lifted off your shoulders. Hope you’re celebrating somehow :)
I’m lucky not to have any debt. My parents have always supported me with the big purchases- especially college, which I know I’m incredibly lucky for. I know it’s going to be much easier to get started in life without having $200,000 worth of college loans to pay off, and as my dad likes to say….I’m just spending it now instead of forty years from now. Slightly morbid, but true haha.
you are so blessed and i love your dad’s logic…morbid, but true :)
Hurray for being debt-free! I am very lucky in that I am debt free – no credit card bill, no student loans, nada. I make filling my savings a priority. My Roth IRA gets the max $5,000 a year and I have some other savings. My future spouse is also debt free and into saving. Once we combine apartments, I hope our savings will go up so we can seriously consider buying a home in the next year or so.
Also, I just got an iPhone two months ago and love it. I was afraid of the touch screen, too. I’d used other peoples for a brief minute and hate it. I became quite comfortable with it within a day. :)
Hi Averie! I have been following your blog for a looonngg time. I am so bad at commenting on blogs. I feel I never have time! I love your blog, and your amazing gf, vegan, raw lifestyle! I just graduated from the University of Pittsburgh, so I have lots of student loans hanging over my head. It’s not a great feeling!! I just enrolled in the Institute for Integrative Nutrition to become a holistic health coach. That adds another bill onto my budget but it is a rewarding one! I love San Diego, and would love to live there some day. Two of my brothers live there. Check out the Indigo Grille downtown, my brother is the Sous Chef!
thanks for delurking kate.
and IIN…have heard great things about it! And Indigo Grille..omg i have been there once years ago, how cool your bro is a sous chef!
No debt, but also not much in savings. We’re stuck in the damned rent trap.
Congrats on no credit card debt. Me neither. It’s the worst debt to have. I still have loans but those don’t have the same awful interest as the credit cards. And if I never got the loans to go to school I’d never have a way to earn money. So worth the investment I’d say.
We’ve cut way back since I don’t’ work and it has freed me. I dislike spending too much and now I only use it for things that are really important. Although I’d say we’ve managed to save and still get organics and give each other gifts. Because those things are important to us. We save in other ways.
Finally coming out of blogger stalker territory to comment! Congrats on paying off your debt! One the biggest feelings of relief probably ever, right? I was also once in credit card debit as a result of really poor judgement, but we busted ourselves to pay it off and I’ll never make that mistake again. Debt sometimes feels like entrapment, and it’s nice to be free!
Thanks for always being so honest and sharing your life lessons, even when they’re not the happiest!
thanks for delurking katie! and for the sweet comment :)
Congrats Averie! I’m sure you feel a weight is lifted off your shoulders! I definitely try to save money by “cutting corners.” Learning how to shop smarter has allowed me to lower my monthly spending.
Way to go! It’s not even March and you’ve already completed one of your intentions, pretty awesome.
I have a student loan I’m trying to pay offend I understand the pressure and insecurity debt causes. Yuck. I try to be frugal do I can pay it off faster and most of the time I do pretty well. Right now though, I’m looking to move out of my very cheap living situation and go out on our own again because we’re tired of living in someone elses house. Some things, like independence, are worth the money.
What a great topic. We have a mortage and a small amount of credit card debt. But we have always been really good about our money. When my husband lost his job almost three years ago we were so thankful and great fulll at the time that we had no credit card debt and we had money in saving to get us thru. It took my husband almost two years to get a job and with out the saving we had I know we would have been a lot worse off. We also have two kids in college so it has been a stressful two years. But we are so grateful that we did the best we could. Not we will work on getting rid of the debt and hopefully start rebuilding. Thanks for the topic Averie!
thank god you had money saved!
You’ve got to feel so great about that. Seriously, a huge accomplishment and a burden on your mind…gone.
I have only one big debt – student loans from my undergrad. I got scholarships and fellowships for all 6 years of grad school, so I never paid a dime in tuition, and I have a saving, which actually has more in it than I own on my loans! but I make more than I pay in interest, so i’m not too worried about it.
I am still super frugal though – I cancelled my cable, netflix, etc, and i don’t buy books anymore (it was shocking how much I spent on books….for real) and get them all at the library now. And I can’t even remember the last time I bought new clothes, shoes, or anything really. Other than food. Hmmm. Maybe I need to shop. :)
you will never have true “debt”. you are the most careful person i know. you will be a-okay!
Congrats on being debt-free! I love how you are straightforward about being financially wise! It really drives me nuts and is frustrating when I see people being frivolous in the short-term when they cannot afford to be and would be much better off in the long-term if they simply saved and avoided things like eating out a ton or getting nails done every week.