All about the money

It’s funny how, when I’m thinking about writing about something, other people write about it at the same time and then I feel like a Copycat and don’t write anything at all.

One of those subjects is money.

The first thing my father told me when I was moving away from home was to never put myself in debt. He had lived his whole life in debt, using credit cards as a way to pay for things, because he is coming from a family where money was never stable, but always an issue, and so he continued down that same road. It is just now, when he’s almost 60, that he is feeling like he has his economy under control.

I think I didn’t quite get what he was saying back then. I never bought anything on credit until I met my husband, but I didn’t say no when we bought our first little house, or a big screen TV on credit… It is so easy to get a loan if you have a steady income! We’ve always had a credit bill to pay off every month, sometimes two.

And then. Enter minimalism. I probably give too much credit to minimalism for all the good things in my life (no I don’t!), but it has really been such an incredible eye-opener. Owning less stuff makes me happy. Paying off my credit card bills has become a goal.

Or actually, it was a goal. Because as I changed my career in January (also thanks to minimalism!), I got two salaries, from two jobs, in February. The old me would have bought a ticket to a nice and sunny place for my family with those extra money. The new me spent it all on a credit card bill. Our last one. I still have my student loans to pay off, and a four-year loan on our allotment, but the rent on those are considerably lower. And paying off that credit also made me do a little math, where I came to the conclusion that I could actually be debt free in eight years, that is, when I’m 45.

Two years ago that was not even something I thought about doing. I was thinking that everyone has loans, nothing wrong with that. But just the prospect of not having a – single – loan… No debt at 45. Mind blowing. A goal to strive for. (and something to try to pass on to my kids, in the future!!)

I’m doing this. Thanks again, minimalism!

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About thereseastrom

A wife, mother of two, teacher and new, but firm, believer in minimalism. Trying to get all the pieces of the puzzle fit together.
This entry was posted in economy, Minimalism and tagged , , , , , , , . Bookmark the permalink.

2 Responses to All about the money

  1. Anne Lene says:

    Debt free at 45, my, that is something 🙂 I will cheer you on in that endeavour. It is easy to rack up debts, and a lot of people will never get out of them, very often because they are not paying attention to where their money goes.

    As you know from my posts http://minimalistsometimes.com/2015/03/04/a-lump-sum-14-worth/ I’m working hard on paying down my debts as well. I paid off the rest of my car last year, I have not had any credit card debts in years, I use credit cards, but I always pay the total every month. I’m not going to beat your goal of being debt free at 45, as I’m 50 😉 but I have a goal of being done with my mortgage within the next 5 years 🙂 If I do that I have shortened my original mortgage payment time by about 12 years… and I’m sure, saved a lot of interest as a result 😉

    So you go, girl! Even just a small extra amount paid on your mortgages every month (or a few times a year) can mean a lot in saved interests and shortened time..

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