Tuesday, September 15, 2015

Money-Fest Day 2: The Reality of Debt

I have been having a real pity-party lately. Having just turned 41 I should have my stuff together. You know, a big nest egg for retirement and little to no debt. Well, that is just not my reality. 

We have made a lot of financial mistakes in the past and we are still paying the price for it. We save money and then have to use it on an unexpected expense. We still have lots of debt. It is a constant challenge to make ends meet, though my husband makes decent money. 

It gets tiring to constantly watch the budget and to never be able to be spontaneous, but it's the price we must pay. Even worse is when your spouse is not entirely on board with the restricted budget, but you do what you can with what you have. 

I do not have a big grocery budget. The past two weeks we have been using up what's in the pantry and freezer and filled in with grocery store purchases. I've spent $90 for that time period and the stockpile is at its lowest. 

I stay home as much as possible to save on fuel costs. I filled up my car on August 29th for $25 and still have just under a half tank of gas. 

We don't take vacations. Holidays and birthdays are an extra strain on the budget that takes the joy out of the celebration. 

Life would be so much easier without debt. We are spending $2,387 per month in debt repayments (including the house, because I consider that a debt) on top of regular bills. It's crazy!

Debt is a burden, a destroyer of joy. It restricts your options and opportunities. It is hell on earth.

And yet, I cannot give up. I have the dream of being 100% debt-free in 7 years or less. It will take extreme determination and discipline to stay the course. My husband will not be able to work forever and for his 50th birthday I want to give him the gift of knowing we owe no one and we own our home free and clear.

So, I keep pushing on day after day with hope that one day this nightmare will be over.  

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debbie said...

I'm right there with you keep pushing for your goal, and stay the course

Mrs. B, a very peculiar person said...

Hi Tracy,

I can relate to the imbalanced spending relationship. Although Mr.B is fairly frugal, he is certainly the more generous spender in our relationship.

We lived 100% debt free for over 15 years & then life threw us a curve and we had to relocate for Mr.B's job. The cost of living is approximately 30% higher in this demographic region of the U.S. Thus, we now have a low interest no penalty mortgage that we are paying off as early as possible. Some months we can pay a hefty amount towards our principal and others we only make the note. But we must forge forward, continuing to do as much as we can as we go.

Since we've conquered debt in the past, I have the optimism that we will do it again. Well, we MUST do it again as Mr.B is slated to retire in approximately 7 years & we MUST be debt free when he does.

I encourage you to keep chipping away because every penny counts, literally.


Homestead Tessie said...

Great post .!!

Fiona Ferris said...

I agree with Mrs B - every cent counts. And most importantly, not adding new debt because then it's a depressing never-ending cycle. You can do it Tracy!