I have written down all our debt…credit card, car, borrowed money, student loans, etc. January’s bills and all expenses. A tedious and daunting job. Well, we owe about $120,000, not including our house debt, which including the cottage is over $500,000. I am sharing this personal information because I truly believe that this year we can begin to turn things around and someday live a debt-free life! In order to do this, we can not continue to bury our heads in the sand. Knowledge is power and we must be honest about where we stand. I know we are earning less than what we spend because we regularly withdrawal from our IRA savings. Not a wise thing for people in their 50’s. So, we begin this year with the goal of NOT taking money out of this savings in 2014, and to begin paying off our debts one by one. I have a personal goal of NOT taking out any money from any ATM.
I am trying to keep a positive attitude about this and even believe we can enjoy the process. I tried unsuccessfully to have fun giving our money away. Now, instead of being the biggest part of our financial problems, it feels good to be part of working on some solutions. I cannot change the mistakes of my past, but I can begin to change the future by making good choices today. Instead of hiding behind my husband’s back and not taking responsibility for my spending, I am going to find ways to earn more and spend less. This I can also do…One Day at a Time!
