Closer to Freedom From Debt

This last Friday was payday for me. I paid off the last $580 on my credit card. No more credit card debt! I have put my credit cards away and now only carry my bank card in my wallet. I also readjusted my automatic savings plan to put that usual monthly amount of money that I was paying towards credit card debt to now go to my online savings account. It feels amazingly wonderful! I paid off my car towards the beginning of last year as well. The giant beasts that I have to tackle now are saving as much as possible and paying down my student loans. 

Last year was FULL of unexpected expenses. I was free of credit card debt for a short time before several emergencies came up. I traveled out of state on three different occasions due to a family member's terminal illness. When it comes to something like that, frugality mostly goes out the window. I also had to have a root canal and crown done. Not exactly something you skimp on. 

I am now saving roughly one third of my monthly income to a high yield savings account and my Roth. I haven't really thought about what my savings goals are other than replenishing the nest egg and retirement. 

I cannot believe how much my attitudes have changed about finances in the past few years. When I had a retail job at a clothing store, I would blow almost all my paycheck on the "great deals" that I got with my employee discount on the clearance stuff. I have nothing to show for it either because all the clothes are gone. I grew out of that style and went for a look that was more mature. 

There will probably be some people that won't like me for saying this: this economic downturn has taught me so much that I think it has been beneficial. I am really getting reinforcement that it isn't money or possessions that bring my happiness but it is the relationships with people and gaining inner wisdom that feeds my soul. I have weathered so much and become a stronger person now. It is merely the beginning. 

Purge Time

Today at work, my mind kept drifting to something I knew I needed to do: purge my closet of unused things. When I say that I love doing that, I mean it! There is something magical to me about clearing up more space so that the arrangement is more visually appealing. I get a high off from the sense that I can let go of "old" in order to let "new" in. The problem lies within the reasoning that occurs after a purge. It is time to shift the focus.

Fighting the Urge to Bargain Shop

I am finding that many of my items that I am purging were the result of shopping at a department store clearance center. It is practically irresistible to get 75% of the suggested retail price and often more during special events. The problem is that I find stuff that I rarely need. So I wear the items once or twice and figure out what a poor decision I made because for 75% off, I could find a way to make it work! Even worse is the fact that all items are non-returnable. Mental note to self, my clothes shopping needs to be more like food shopping (sticking to a list of well thought out essentials)!

Fighting the Urge to Hold On

I have been hiding this little messenger bag that I bought almost 10 years ago at the bottom of a drawer so it would stay out of my sight! I purchased it in Germany while on a graduation trip. In all these years, I have probably used it once! I tell myself that I bought it while in Germany so it is like a souvenir. It is a pretty impractical one though. It is too small to carry my laptop yet not cute enough to carry as a purse. It has no purpose for me. I don't consider myself very sentimental (I get rid of stuff from old boyfriends and recycle greeting cards) but this one item has been held on to for so long. It is time for it to go finally. I don't know why this time is right but it just is. I have fond memories of Europe in the form of pictures and that is enough for me.

A List of What Had to Go:

• 3 pairs of high heels (two pairs very worn, one pair nearly new condition)
• 1 pair of boots (worn once, they were a gift)
• 2 pairs of running shoes (one pair out of miles, one pair like new but don't fit well and never got returned)
• 1 business casual blazer (new with tags... and I hope that is the only NWT item that was in my closet)
• 3 bags
• 3 workout shirts (nearly 100% polyester and I absolutely hated them for that)
• 3 pairs of pajama type bottoms
• 2 t-shirts

More to come later...