Monday, January 23, 2012

2012 Mission = A debt free me

What I have just below my monitor. Cause I need reminding.

People make new year resolutions every year, usually with no real intention of keeping them. They get caught up in the euphoria of new year and all the possibilities it holds. Everyone thinks this is their year. The year they get that dream job or meet that dream person. No one going into the year thinking, this year will be painful and tragic and I will be glad to see it go. If they do have those thoughts, they usually keep them to themselves, hiding them behind the canned answers they give others when people ask, "What are your resolutions this year?"

I can honestly say I don't make new year resolutions. I set realistic goals I wish to complete by years end. Some are carry overs from the year before as long term goals, others are born out of that euphoria of possibilities and lifetime desires I think are ready to become realities.

My goal for this year, to be debt free. This isn't a new goal for me, not really. I was debt free before I started school two years ago. The only debt I have now, besides student loans, is my car. I owe around $5,500 and have four more years to pay it off but I don't want to wait that long. I calculated that if I cut out all unplanned spending and follow my budget closely, I could pay off my car by the end of the year. And that is what I plan to do.

No more trips to the Dollar Tree for one thing and buying $15 worth of crap. No more going to Walmart for three things and coming out with six bags of stuff I do not need. No more good deals from Woot or Amazon Gold Box. If I don't need it, absolutely and completely, I will not buy it.

A few rules to help me stay the course

  1. I will post every cent I spend on this blog. At the end of the day, I will post each item that I purchased and a total of what I spent. If I didn't spend any money that day, my total will be zero.
  2. I will post how much I have paid on my car and the total that remains monthly. If I pay on my car more than once, I will post that as well.
  3. If I do buy something I don't need, I will agree to a punishment to be carried out in the form of surrendering something of extreme value to a friend or total stranger. This something of extreme value will probably take the form of a favorite movie or book I own. Details about surrender to be worked out later.
  4. I have previous agreements about vacation/ travel that I already committed to for this year. Outside of these plans I will not be traveling until my car is paid off.
  5. Once I have paid off my car, I am not obligated to obey these rules. 

That's it folks. I think. If you have a suggestion, please feel free to voice it.

Ready. Steady. Go.

I almost forgot. I bought nothing today.

Total Dollars Spent: $0.


Alisa said...

I'm sooooo excited for u! I love ur concept.. putting it out there, making it known to everyoneis a great way of being held accountable.. I didn't go public, but I did it & so can u! Ur commitment is a great beginning! I will keep checking on ur progress.. Many Blessings to come ur way!

Alisa said...
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Alisa said...
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