Episode 392 - Wasting Money While Paying Off Debt

Today, we talk about deb payoff and I will share with you the things I waste my money on. Why? Because this is part of the process if paying off debt.

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From Alan - How do you protect your aquaponics plumbing through deep freezes?

Spring is Coming!

Setting out the seedling schedule (some start this weekend) Seeking 6 blueberry bushes -- anyone? Early weed controls need to happen now Scooping poop Anti chicken defense fencing going up Outdoor hydroponics systems setup (and planning for the worm casting juice experiment) Also: Pigs or no pigs?

Main topic of the Show: Wasting Money While Paying Off Debt

I have been meaning to share with yall my journey to pay off bad debt - as in revolving debt - which started 4-5 years ago and has been a pretty bumpy road. But the end of my journey is very close at hand and over the years, my needs and wants have changed dramatically.

How I ran into trouble:

A practice of putting things on low interest cards and paying them off (real estate and home improvements) Spending to fill an emotional void or cheer myself up A lifestyle of travel for work and not keeping my financial house in order -- upwards of $10k a year would go on my credit cards and no expense reports would be submitted An instant gratification mindset Am ever-increasing salary

Biggest two: the mental and emotional issues, an expensive paperwork aversion

The antidote:

Dave Ramsey - emergency fund: with alterations Cash/Budget/Failure/Success Fits and starts and why Sell all the things, unless they do not sell then give them away (getting the house in order) Beans and rice, rice and beans did not work: Mental and emotional health and its impact on the process, scarcity mindset, if you feel poor you are poor What did work: commitment to paying it off with a schedule and decision to all all “extra” money to the project | much larger emergency fund | bringing down monthly costs | building in a non-poverty mindset with things that don’t count as debt payoff

Behold the list

House cleaning of $100/month 3 alcoholic beverages at home per week A really nice home espresso maker Imported chocolate Non-budget food: grassfed meats, etc (How I control cost on this) Biweekly counseling appointments Pets Amazon Prime (soon to go away) Travel to workshops and events Home improvement Seeds and plants Food Preservation Purchases (The $800 cryovac an how I made that decision)

What is not on the list (very often)

Buying coffee, dinner, fast food out Concerts, etc Expensive travel, cruises, etc Corporate wardrobes Keeping up with the Joneses devices, cars, clothing, hair, makeup, shopping items, decorations, furniture, etc Charitable contributions beyond my means Crypto currency investment schemes Casino time Nights at the bar

You can do this!

Make it a great week!

GUYS! Don’t forget about the cookbook, Cook With What You Have by Nicole Sauce and Mama Sauce. 

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