It's been two months since I started my financial freedom journey and want to give a little update. So far I haven't felt deprived not being able to eat out as much and no shopping. There isn't anything that I feel I must have or currently need. This is because I'm forced to think of every purchase and how it affects my goals. There isn't any item that I wished I bought instead of being frugal and I still hang out with friends without it costing anything or for very little.
I think the biggest reason why I have been able to be successful is I have great support. It helps when you're around like-minded people as you don't have to explain yourself every time you don't want to partake in an event or activity that cost money.
I'm very motivated to pay this debt off as quickly as possible and yes there has been some slip-ups but I know that I can't beat myself up over it. I think what I have been spending is as frugal as I feel comfortable with. If I were to push it further, I think it would start having the opposite effect and I would start feeling deprived. I don't want to get out of debt just to binge shop on stuff I don't need.
Now that I have met my first goal for saving for an emergency fund, I have recalculated my finances and not only will I be out of debt by May 15th but I can also save the full amount for the next financial goal. The next financial goal isn't very exciting, I'm going to owe lawyers, more likely in the month of July and want the money to be available for then.
After those goals have been met, I will start saving for a friend's wedding. Those costs add up very quickly so I'd like to be prepared for that. I would also like to start saving for tooth veneers. I had my front teeth filled when I was younger but they don't last long and cracked on one of them. So for now, I have a temporary fix from the dentist but will require to get 3 veneers. I know this cost will be worth it and will cost less in the long term.
For investing, I would like to start in June after my debt is paid off but I am wondering about saving my money for my other goals first. Since these costs are predictable, I figure I could get that out of the way and not stress about it. I think I will make that judgment in May when everything is paid off.
I think the biggest reason why I have been able to be successful is I have great support. It helps when you're around like-minded people as you don't have to explain yourself every time you don't want to partake in an event or activity that cost money.
I'm very motivated to pay this debt off as quickly as possible and yes there has been some slip-ups but I know that I can't beat myself up over it. I think what I have been spending is as frugal as I feel comfortable with. If I were to push it further, I think it would start having the opposite effect and I would start feeling deprived. I don't want to get out of debt just to binge shop on stuff I don't need.
Now that I have met my first goal for saving for an emergency fund, I have recalculated my finances and not only will I be out of debt by May 15th but I can also save the full amount for the next financial goal. The next financial goal isn't very exciting, I'm going to owe lawyers, more likely in the month of July and want the money to be available for then.
After those goals have been met, I will start saving for a friend's wedding. Those costs add up very quickly so I'd like to be prepared for that. I would also like to start saving for tooth veneers. I had my front teeth filled when I was younger but they don't last long and cracked on one of them. So for now, I have a temporary fix from the dentist but will require to get 3 veneers. I know this cost will be worth it and will cost less in the long term.
For investing, I would like to start in June after my debt is paid off but I am wondering about saving my money for my other goals first. Since these costs are predictable, I figure I could get that out of the way and not stress about it. I think I will make that judgment in May when everything is paid off.