Hello everyone
Ok. Here it goes.
Life or debt on spike tv. I got hit hard after coming off a vacation and I arrived home. I had a big tax bill and couldn't come up with money. When I had cable tv at the time and saw a commercial I said maybe that was my wake up call. So I watched it. Took some notes during the shows. Was a life changing lesson for me. Unfortunately the series did not get renewed for second season. Victor was amazing and I owe a lot to Him of stepping stones. I highly suggest you invest 30 bucks or so and buy the series on Amazon prime.
Cut the carry out and coffee each month and week. There were months I spend $500 a month on Starbucks. Going once or twice a day. That was my entertainment and get me out from the house since I work from home. Pretty insane right. The tax bill news I got was around April 2016. Right before my birthday too. Was discouraged and overwhelmed on things.
So let's take this as an example.
$25 a day for carryout for dinner. Each night.
$25 a meal x 7 =$175 a week.
$175 x 4 weeks = $700 a month
$9100 a year. Some meals were a lot more.
So now it's trying to do one meal out a week. Some weeks are busy and life. Last year was rolling great. The cost of a dinner and made at home was running around $10 to $15 a dinner. Yes I did some calculations into this because I was curious. Suggest you do it as well.
So let's do some more calculations
$10 a dinner by eating in.
$70 a week cost
$280 a month
$3360 a year
Compare the numbers here and above. Almost 6k a year your saving a year. Just by one simple revision. I know it's not fun to cook at home. Dishes. Being in kitchen. But think how that money can be paying down a debt. A reward should be done by making baby steps.
Your taste buds will change too and enjoy the food more so then restaurants and carry out.
Last year was more on track then this year. Part of reason why I wanted to blog on steemit so I remember things. What got me in trouble. what helped me. Get back being focused.
You can change the eating in and out. Try to limit myself 2 meals out a week. That's it. Last year was one. Know it's not fun but you will begin to relax once your in a habit. Plus more appreciation for a value of a dollar and eating better.
Same goes with coffee. you can run numbers like I did and follow same process. Limit myself to one coffee a week and I am happy with Costco coffee. Saving me a boat load.
These 2 simple changes will add gratification and you bootstrap these things into a bill or debt.
Remember these dollars add up fast. Don't focus on income right now. Get rolling by visiting your monthly expenses and it's not how much you generate it's what you do with your income. I know a lot of successful contacts and friends who make 25k a month. 50k a month. The house. The car notes. The clothes. But only couple months of reserves and high end life style. Big mortgages and that's not me. Simplify for me is best route.
- Cut the cable bill. Wish I done that years ago. 12 years x 80 a month. What
$80 a month may not seem like a lot. So it's 80. But let's do calculations again.
$960 a year
$11,520 during a course of 12 years.
Ok you need entertainment with replacement of cable tv.
I have Amazon prime each year. think it's $100 a year. Watch tv, movies free ground shipping. Well worth I.
Hulu like 6 month. Then Netflix.
So you can use all 3 or just pick one option in the beginning. Use the cable gross expense minus these providers and here's your net amount to pay down that debt faster. Remember baby steps people.
What would that money over time be better spent on ? High interest college loan. A credit card interest rate. Bad debt.
Hope this blog makes you think and follow these 3 steps here you will be on the road to a successful start. Simple. Simplify things. Not about how much you make. It's what you do with what you have and spend what you have.
Thanks in reading.
J