What are your goals this year? What steps are you taking to make them happen? Some of us want to be more social, travel more, or find a better job. For me it’s a bit of all that and so much more. It is about fulfillment while being content with my life and what I have.
When I graduated from graduate school in 2014, I thought I was good to go! I had a well-paying job in my field, a strong support network, and had the opportunity to travel a bit. I also had a ridiculous amount of student loan debt and started using credit cards because for some reason I wasn’t “making enough.” The reality was that I was living above my means. I was going out to lunch almost every day and having dinner and drinks with friends during nights and weekends. I was justifying it by how hard I had worked to get here. Look at the sacrifices that I have made so far. This went on for a good year or so. I remember going out for dinner knowing I didn’t have a lot of money but I had already committed, how could I back out? I sat there while everyone ordered these big dinners and all I could afford was an appetizer. I’ve hit rock bottom and I didn’t even know it. It was on the way home from who knows where that my partner had a podcast on and I wasn’t paying attention because I was on my phone (probably on Facebook or Instagram). After a while, I started paying attention and it was the Dave Ramsey show, he was talking about to people about how to get out of debt and sacrificing. Slowly I started becoming intrigued in this Ramsey fella. I downloaded the app and would listen on my way home. We listened to his audio book about his steps to getting out of debt and building wealth.
Mind you, I was coming into this with over $100k in debt between student loans, credit cards, and my car. I am still working the steps. Taking on side jobs to help pay it off. We have downsized our lifestyle (which often sucks!). We used to eat out a lot and have limited that tremendously. I no longer use credit cards, cut them up and paid them off. I’m working on my student loans which will take me some time but knowing that it will feel amazing once it’s over is what keeps me going. Before I started on this journey, I was paying the minimum through the Public Service Loan Forgiveness Program, which states that if you make 120 on time qualifying payments, you qualify for forgiveness. Four years ago I was all about that life. Then I realized that the minimum payment wasn’t even covering the entire interest so the compounded interest was not working in my favor.
Some people don’t agree with what I’m doing. “I’m not enjoying life”, they say. I stopped getting invitations to go out because I would say no, I can’t. After reading “Love Your Life Not Theirs” by Rachel Cruze, I became okay with. I stopped feeling sorry for myself because I got myself into this mess.
2018 was quickly approaching and I knew that my initial goal of being debt free by the time I turned 30 was a far reach but I knew that I was closer to the end. We are now going through Financial Peace University (yes, we spent money on it). However, I know it will be worth it. When family gets in the car they already know that even though I love music, I have the podcast on.
So what are your goals for this year? Are they specific and realistic enough? Mine are to pay off at a minimum 25% of my remaining debt this year by working more and continuing to be content with my life and my choices.
We watch a lot of movies through Netflix and Hulu. We find free activities or discounts to continue enjoying life. We work more. We read. I rediscovered my love for the public library and writing. I aim to get back to running.
Need someone to talk through your goals with and hold you accountable? Let’s do this together regardless of our goals or where we are in the process.
