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?
i’m not debt free at all. far from it! esp after graduating from med school last year! my debt is mostly student loans, but i do have an MD so i’m actually ok with it. i don’t have any other major debt though!!
congrats on being debt free!! yayy!!
yes but you will be a DOCTOR! and can repay all your debts :)
and your iphone comment/info..thanks girlie!
I am currently debt-free, but in a year I will have tons of student loans to pay off:( You are so lucky!! The day I am debt-free, I will pop some champagneee
SOOO happy/proud of you! Debt free is the way to be :D
seriously being debt free has to be the most liberating feeling in the WORLD! i can’t waaaaait to pay off all of my student loans, and car credit card charges! its going to be the best feeling in the world :)
Oh wow I am SO JEALOUS of your debt-free’edness. We’re almost there. Just have the mortgage and the husband’s student loans left. Okay, when I say it like that it feels like we’ll never be out of debt. Sigh. Way to go, you guys!! Seriously this is a HUGE accomplishment!!
thanks charlotte! you will be there soon too!
That much be SUCH a relief paying off the credit card bills! I am not debt free. Not a lot of debt, but it’s been tough to pay off. Now that I’m working less and the baby is coming, things are getting tighter and tighter and it makes me sick in my stomach thinking about not being able to contribute financially. I am so NOT comfortable with my husband just paying for everything and having to ask him for money. But we will have to do what we have to do!!! We live in a condo now, we only planned ot live here for like 2 years (before the market crash). Now, 4 years later…we are trying to make room for a little one. I am converting my den into a nursery, and trying to find space for all my stuff…and saying goodbye to things has been a challenge! All will be worth it though! We are keeping a tight hold on our savings and really not trying to tap them so we can move someday soon. This is why its rough not having income on my end, because I really don’t want to have to use anything we have in the bank!
laury i can soooo relate to your story. the closer i got to giving birth, the less i worked, then worked very little for 2 yrs after her birth. sort of somehow got by but in the process also racked up debt. i totally understand what you are going thru. We used all our savings to buy a house (in a city we didnt end up liking) it was a snowball. So yes, i totally understand. Deep breaths, friend :)
SO happy for you!! CONGRATS! I know you work hard and you deserve every bit of joy for being debt free. You ROCK @ life! :D
We have small amounts of debt for the most part because we never use credit! We have 3 credit cards that we never use and one car payment. No student loans (neither of us attended college), no mortgage (we rent), and never borrow money from anyone. But being we never use credit, we pay for cash for everything and that means our savings suffer sometimes. We’re definitely improving on savings, though! No more frivolous spending that’s not accounted for in the budget. :)
We’re planning to buy a house sometime this year, so savings is our #1 priority. Debt is the most stressful thing ever! The less debt you have, the better your quality of life.
thanks, i know you know how hard i work. and i know how hard you guys work!
and i hope you get your house! i have bought and sold plenty and being self employed, it does pose some challenges so if you ever need any info, lmk.
and the iphone/ipad comment you left before too…duly noted. :)
yeay! Congrats on paying off your debt!
As I’ve talked w/ you about before, I have tons of debt from medical bills, which make me feel like I’m walking around with chains. I have a lot more college debt, but for some reason that doesn’t bother me as much. My goal is to pay off the credit card debt by january of next year…but other expenses keep popping up out of nowhere (the car, a vet bill, new eyeglasses…etc.). But I’m going to make it happen! I just have to think positively and work hard.
One thing I did to save money was quit buying gum and bottled drinks (like vitamin water) – I used to chew a pack a day! Almost like cigarettes, I was addicted. I stopped cold turkey this summer and haven’t caved in since…That’s saving $1.25 a day, or about $450/ year!
medical debt is sooo unfair…double whammy, getting sick AND going into debt over it. GRRRR!
I love your $450/yr savings and no gum…that is brilliant!
Congrats, Averie! Being debt-free is wonderful! We are almost debt-free. We owe on one of our cars, but that is all. Not bad compared to most Americans. We do save $$ every month. It’s a priority for us and so we make it happen.
I’m curious where you lived when you were in Phoenix? We also moved from Phoenix…bought our house at the peak of the market and moved after the crash. Not fun! I actually really loved Phoenix but I was coming from the Midwest so I fell in love with sunshine. You already had that in Cali. :-)
lived in N Scottsdale/Desert Ridge area. It was nice, it was fine. It just wasn’t MY place, my home, my calling. I am just a San Diego girl.
And thx for your other comment re the iphone!
I forget where you guys live now?
We live in Ohio, north of Cincinnati. I lived in Scottsdale (near Old Town and then North) for most of my time in AZ; the last two years we were in Anthem. I miss it. :-( But I live closer to family now, which is important.
Congrats on being debt free-such a relief!
I am debt free but am walking into a marriage in May and had to have “the talk” with my fiance on how much debt i’m walking into….eeeks!
Congratulations!
(I’m not even supposed to be on puter today: it’s my bday and suspension of usual programming)–but I saw your ‘debt free’ title and had to come and give you more congrats: that must feel so wonderful. A huge weight from off of your shoulders. Loved the animal refs in your work life: are you going to become more of a cool cat now, or continue to work so hard? That’s awesome that you both eradicated the debt and saved some up and learned some good life lessons to boot.
I’m very frugal and don’t find it necessary to spend on a lot of things that many consider de rigeur, but it’s nice to be able to have the money to make significant purchases.
Right now, I’m trying to pull together some funding so that I don’t have to go into debt for my MFA in poetry that starts this summer.
love
Ela
HAPPY BDAY!!!!!!!!!!
And yes, I will work hard. Like a dog. Until further notice…..haha.
Congratulations on getting out of debt that is so exciting! I am already trying to figure out how to start paying off my loans when I graduate which luckily my parents have helped with most of my schooling so its not too bad! About the I Phone I have verizon and have wanted one FOREVER im so excited they finally got the iphone, I am waiting til april though so I can get a discount my two years was just up as well. SO excited!
Congrats on being debt free – I cant even image how happy you must feel!
Wow, 5 figures – congrats! The pineapple looks good, I was gonna grab one at Costco yesterday, but grabbed kiwis instead to mix up smoothie ingredients.
1. Very close to it, my car has been paid off for years and my only card has a minimal balance.
2. Yes, avoiding pricey clothes shopping and eating out too much. Plus I never run through Starbucks and always pack lunch.
yeah, 5 figures. Ridic sum but thank god….it’s DONE! :)
Good for you! What a feeling! I am getting ready to pay off my house next week- so excited. No other debt here except one small car payment.