Guys, nowadays before I get my salary I’m actually excited about pay day because it means I’ll be able to pay on my bills and somehow be one step closer to becoming debt-free. Who gets excited about paying bills? #AdultLife
Yup, it’s weird to me too, because not so long ago I used to be stressed a few days before pay day, I’d feel like crying, thinking “how am I going to pay my groceries?” Luckily I’m earning a little more on my salary than my previous job, so now I can afford all my necessities and pay my bills.
I also finished paying off my credit card debt end of December, so now the only debt I have is my car finance. I hope to pay it off this year. [I don’t count rent or car insurance as debt because it’s a monthly thing that will always be there.]
I’ve realised there are a few good things I’m experiencing while being on this journey of becoming debt free, one of it being my mindset change – being positive of paying off debt and thinking “I can” instead of “I don’t think I can”.
Here are a list of things I’ve experienced, which are reasons you should consider being debt-free:
#1. You’ll have a reason(s) for earning a certain amount of money per month
Once you know what you want, you’ll start setting the goals and you’ll make a list of activities you can do to help you achieve those goals. Also, I know what my priorities are. My reason for becoming debt free is so that I can spend more money on saving for my child’s education and also, I want to have money to travel. I found that cutting down on a lot of things like buying fast food, allows me to have money for healthy homecooked foods instead.
#2. You’ll start setting financial goals
Set goals, write it down and every week or two, look at where you are, look at what have you done to achieve those goals. Having goals keep you on your toes.
#3. You’ll attempt (and maybe even succeed at it) getting a side hustle
You can do this, and having financial goals help you do this.
#4. With your side hustle you’ll discover how capable you are of doing more
You get out of your comfort zone and do something because you want to achieve those goals. You’ll also feel nice once you’ve accomplished your goals.
#5. You’ll start thinking of ways on how you can save money
I did a no sugar-only-eat-green-vegetables-and-protein challenge and I learned to meal plan. I also looked at how it saved me money.
#6. You’ll accept that you don’t have to live lavishly like everybody else and that’s okay
You don’t have to go to every get together that your friends have. You don’t have to buy that cute doll house, which you’re sure your daughter will love. You’ll even consider buying things second hand, because what’s wrong with buying second hand items or lay buying? Nothing’s wrong with it.
#7. Before you buy something you’ll think: do I really need this?
And you’ll consider a few times “do I really need this” and most times you’ll end up not buying it, because instant gratification often comes and goes. You’ll look at your budget and think: no, I’m fine, I’m not going to buy this or that.
#8. You start learning more about different ways of saving- or investing money
I learn through reading personal finance blogs or watching YouTube videos and I follow people on social media who are always talking about money-related topics.
#9. You learn that you must get aggressive about paying off debt
Why waste time – try to pay off more (if you can) and finish those debts, because life is short.
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How do you feel about paying off your debt? Do you find it easy or hard, and do you have financial goals yet? Please let me know in the comments section below.