My other blog is the personal venting space - this is will be designed to keep me motivated on my two newest goals. My friend and I are affectionately calling this "F & P Fitness" - which stand for Financial and Physical.
I picked up the "Total Money Makeover" book by Dave Ramsey. This seems to be an odd time of year to be starting a program that will get my finances under control - after all, we spend more $ at Christmas than any other time, right? Right. But, I think this is what I'm supposed to be doing for a number of reasons:
1) I was done with my Christmas shopping before Dec. 1st - this has never happened. So, I do not have the added stress of shopping right now.
2) I've been keeping up with my finanaces on a spreadsheet for about a year, and I'm still not ahead - hence the book to help me.
3) I DID attempt to take out a line of credit on my house with my mortgage company. I wasn't turned down, but it was not going to be enough of a savings to really help me, so I didn't do it - which is one of the things that Dave says you should NOT do.
As for the physical - it's easier. I've decided that if I feel like I'm going to buy something - I'm just going to go to the gym or go for a walk or do SOMETHING physical instead. There's no reason for me to buy anything anyways. I have a closetful of beautiful clothes that I bought when I was thinner that I can't wear. I don't want to spend money on new clothes being the size that I am right now. I shouldn't need to spend money - I just need to lose weight so 1) I will be healthier overall and 2) I can wear the clothes that I have that are gorgeous.
I always believe things happen for a reason - and I think that's really what is motivating me. Too many things have happened recently that are all pointing me in this direction. I talked with R and altho she doesn't want to get the book and she only briefly glanced at the Dave's website, she *says* she's going to do this with me.
I DO want to live like no one else, so LATER I CAN live like NO ONE ELSE. I've done this before, and I didn't know what it was called or what I was doing. But, I have been debt free in the past - so I know I can do it. It's all about behavior and motivation.
Tomorrow is liquidation day. I have a whole term life insurance policy, and have had it for 20 years. It costs me $30 per month - no big thing - for a $40K policy. The cash out value is about $5500 - in 20 years, I've only saved $5500!! Almost makes me sick when I actually ran the math at a higher interest rate (b/c of course, they are taking out fees!). I got $100K of life insurance which my job pays 1/2 of for $8 per month. So - no need for the other policy, but I DO need the cash out to start my snowball. I'm also rolling over the $ draining 403 b plan from Florida into a Roth with my stepsister. I know I'll have some tax hits on it - but it's not a ton of $ and I'm losing more $ than I am making in that account right now. I am a teacher - so we don't have the luxury of a 401K. I will worry about retirement and investing after step 3. Right now, I"m setting up step 1 at the local credit union (NOT linked to my regular bank) and then will begin my snowball this month.
As for physical fitness - my grad classes are DONE as of tomorrow - just one last online posting to one class - woohoo!! So, my evenings are free to workout to my heart's content. Plus, when I exercise, I tend to eat less at night - which is good for me and good for the wallet. I also found a workout buddy that goes to my gym as well - so we will start together this week (after her classes finish up Tuesday night).
Yep - it's going to be a GREAT month!
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