I’ve always had a strange relationship with money. Abundance and lack are often at war with each other, usually in my head rather than our checkbook. I spend way too much energy in the making of it, spending of it, hording of it and thinking about it. For years I have wanted to put money in its proper place, whatever that is.
I’ve put lots of energy (and money) in to that desire. Books on abundance, financial LEAPs, working only Four Hours a Week, and money management. Seminars on having a Millionaire Mind, rewiring money beliefs and buying real estate. I once used NLP to install a feeling of abundance. It worked, and it took me six months to pay off the charge card. One thing to know about NLP: be careful what you ask for.
All that time and energy into a topic that I wish I could just stop thinking about. So I started thinking about that! And I decided that what I really want is to stop worrying about it. I asked myself what it would take to stop worrying about it – and have that be a good thing, since just installing non-worry could have dangerous consequences all on its own. What would it take to have nothing to worry about in terms of money? The answer seemed simple: to have more than I needed at any given moment.
Sounds easy, but exactly how does one do that? I’ve already experienced the make-more-spend-more phenomenon, so I know that just making a bunch isn’t the answer. I’ve also tried the live-life-to-the-bone approach which, while effective, just sucks as a long-term solution. What if the entire system was automatically rigged to always make more than you spend? Yes, that sounds pretty DUH obvious, but setting up the “automatically rigged” part is the challenge. That’s where the “never have to worry about it again” occurs.
Although I don’t have the whole plan worked out yet, I’ve come up with what seems like the first step in this challenge: eliminate all debt and start with a clean slate. Since that is the least fun aspect of the whole thing, I’d like to get it over with. My goal is debt-free, except the mortgage, by year end. Now this will require some Big Kahuna change of some kind, because we aren’t going to be able to earn/save our way into this using our current method.
So hang on for an interesting ride as Don and I go for un-broke! Your thoughts, unique ideas and prayers are welcome.
September 2, 2008 at 8:44 am
I recently read an article on three couples/families who were looking to reduce debt. After an analysis of their spending habits, they were instructed to cut back on luxuries like bottled water being delivered to the house (buy a Brita) and expensive meals out 4-5 times a week. Surprisingly, each family had a relatively new car or SUV that they were paying $3-500 a month on, and no one said, “Sell the car, but something used for cash and get rid of the car payment.” It seems many will hang on to a car that is more than they need – to keep up with the Jones’ or because of a misguided belief that a used vehicle will not be reliable. I’ve a 10 year old VW convertible in lovely condition, leather interior, and my only expenses are regular maintenance and gas (34 miles to the gallon at that). It’s still cute and fits me, but I have zero car payments. Even if something goes wrong, will I really spend $350×12months in maintenance on it a year? What would you do with an extra $350 a month? Perhaps live a life debt free. Perhaps pay off debt, and use the other half for a lovely vacation.