I’m still checking my bank account every day to be sure that I really did pay my car loan off earlier this month. I’m shocked. I’m surprised. And I’m pretty sure this makes me a total badass! You know what I also got this month? A POST TAX RAISE. That’s right. See I was previously using these post tax dollars to pay off car debt. Now that the debt has been paid off I get to use those post tax dollars for other things. Essentially I got a post tax raise!
It’s really easy to say pay off debt in order to get a post tax raise. But the process is very long, it’s very hard, and it’s a whole lot of work. However, achieving your goals and dreams of being debt free or closer to debt free feels absolutely amazing. See above. I’m still pinching myself! Here is my back story:
I had lots of credit card debt because I didn’t think I had a shopping problem. I most certainly had a spending, shopping, and hoarding problem. I didn’t accept this problem until one morning I woke up from a cold sweat, nightmare realizing that I will never be able to retire if I didn’t change my life. I had to stop being jealous of other people (mostly people with lower salaries yet with more savings/investments than me). I had to stop making excuses. I had to literally stop the bleeding out of money.
I knew about this author who stopped spending money. In late 2017, I decided to try this no spend thing in order to pay off my credit card debt. I hustled hard to pay off that debt. Around mid 2018, I finally paid off my credit cards but I still had a mountain of other debit to pay off plus I needed to save for retirement (hello I want work to be optional when I’m 80 years old!). Enter the day I decided to read Cait Flanders’ book A Year of Less in late 2018. After waking up from that cold sweat, nightmare I knew it was time to read this book. I devoured every word she wrote. Upon finishing that book I declared 2019 to be my NO SPEND YEAR!
Between paying off my credit card debt and reading Cait Flanders’ book, I completed my personal KonMari tidying event. While that event did showcase a whole lot of wasted money, it really showed me what little I needed to survive and thrive. Eliminating probably close to 75% of my stuff helped me cut the shopping/spending cord almost immediately. I never wanted to have to go through all of that decluttering process again.
Some people gave me the side eye glare like I lost my mind, but most people were interested in hearing more about this no spend year. Most people didn’t tell me their financial numbers but they asked a whole lot of questions like what did I spend money on and how my plan was going. I’m nearing the end of my second no spend year and will be going into my third because honestly I need the strict rules so I don’t fall back into the old spending habits. I feel like I’m one spending binge away from going back to my old spending habits and I want to fight that urge like hell to make sure it never happens again.