Well… If there’s something I really need to say for my first post this year is… I’M SORRY! I’m sorry for neglecting this blog for a whole 7 months… But I promise, I’m back to doing what I love and I’m staying! 😀
My life has gone through a lot of changes in the last 6 months. I got a full time job outside of home, went through a separation and reconciliation, got 2 more pets, and decided to go back to school and continue pursuing my dreams… So, as of right now, I work full time at a medical office, go to school part time, take care of my three kids, my husband, my cat and her 2 kittens, blog, and try to keep my sanity all at the same time 🙂 Although people think I’m crazy for trying to find time to blog in my already packed schedule, for me, it honestly is a way of taking care of myself… like talking to a friend, or having a glass of wine… it relaxes me to have a “safe zone” for all my ideas, feelings, and thoughts…
OK, enough of me and my life… This year, we all are thinking of how to accomplish our new year resolutions, how to eat healthier, how to take better care of ourselves and our loved ones, how to improve our life quality, or how to get closer to the much desired financial freedom… Wait… what???? Is there such thing as financial freedom???
The answer is YES! It is hard, and it takes lots of discipline and effort, but financial freedom is very much possible. There are, in fact, thousands of American families accomplishing this dream in the last couple of years.
To make the financial freedom dream possible, the very first step is to do an honest review of our spending… Where are we putting all of our hard earned money?
I did this review during the month of January. I did not change anything on how I spent my money, but I kept all of my receipts, and I wrote a journal about every other day on how I was feeling and how I was spending my money. Then, I did take a closer look at the end of the month, to see where I was spending the most and where I could make some adjustments. Here’s what I found out:
Most of my money is being “wisely spent”. Rent, bills, food, kids, fuel… But, I did notice one big thing. Whenever I felt down, or stressed, I tend to do some impulsive shopping. Generally on items that I’ve been wanting for s while, as I feel that helps ease the pain, but it isn’t always something I really need.
I also realized how much I’m paying on interest for my credit cards, and just keeping up with the payments isn’t shrinking the debt. That interest really sucks more blood than mosquitoes during a hot summer night!
Food budget is right on point, I’m raising 3 kids, 3 cats and a husband … We do not buy soda, bottled water, almost never get pre-processed or packaged food, I buy in bulk… I mean, you get it… Not much I can change there.
I am starting to unplug everything when we’re not using it, to see how much my electricity bill goes down! It’ll also help me move one more muscle everytime I have to plug it back in 😉
One big change that I did not necessarily made, but worked on, was how much we were paying for insurance for our vehicles. I spent a whole 2 hours on the phone, calling different companies and see what they offered and how much their plans were. Then I called my current insurance provider and told them what I had found out. Guess what??? I did not even have to change my insurance, because they matched the best price I found!
We also made a big decision, for next fall and until we’re financially free, we’re switching our kids to a public school. Currently they go to a private school, but it does not make much sense to keep doing so if we are not saving a cent for their future. Just on that alone, we’ll be saving over $450 a month!
So, I’m going to start my debt snowball, and I’ll take you with me on this adventure! I’ll do monthly updates on how things are going, and what’s working and what’s not!
What are your money resolutions for 2018? Where’s your money going???