FIND YOUR WHY? WHY is the most important thing to determine when beginning any journey. It is one of the main questions asked in any interview of anyone whom has overcome any obstacle. Dave Ramsey ask “why” in various forms. His and Her money always ask “what was it that made you to become debt free?” Which translates into “why.” If you’ve read this post or this post, you may have gotten a sense of how my journey began and what pushed me to the point that I wanted to become debt free. However, with over $200k in debt at the age of 30 something, I need more than just one reason to keep on, what may be a long journey. In fact, I’ve come to up with about seven main reasons why I want to get out of debt.
I want to be a better mom.
The frustration and burden of debt can leak over into my at home life with my family. Being stressed and frustrated with the constant credit card bills and the amount of interest charged results in short patience and sometimes disabling head aches, in turn taking me away from my children.
Aside from the stress and head aches, I want my children to have the things I didn’t (cliche) but not the latest electronics and shoes, but experiences. You see, I don’t really remember what I got for some Christmases or birthdays but I do remember summer vacations, going to my first concert and meeting the members of the boy band. I want my children to have better experiences, which goes great with my love to travel!
I don’t want to work to live.
The Mister adores the weekend, as do I. However he goes out on the weekend and splurges just about everything that is left after bills. We had a conversation about that went something like:
Him: I work hard during the week, and I deserve to enjoy the weekend and spend my money how I want.
Me: And with that attitude, you’re setting yourself to always have to work and then live.
Yeah so I won that argument. My point however is that continuing to enjoy the weekend from a hard work week, sets us up to have to continue working. And I don’t want to live that like. I’ve mentioned before how I want work to be optional within four years and I think I’m on the right track .
I don’t like the “hands” in my paycheck
It’s ridiculous how much of my budget is consumed by lenders. Of the $1500 -$2000 I may bring home bi-monthly about $2600-$3500 is to lenders. LENDERS, not utilities or insurance (although insurance is pricey too) but Lenders like Wells Fargo and Honda Financial. I absolutely hate it. As I think of ho much money would be freed once I’m debt free, I get so excited which is why I’m unsure if retiring in the four years mentioned above is realistic.
My future is uncertain
My husband and I have been separated before. The hardship I faced living on my income alone was difficult. I hustled really, really hard and have been ever since. Unfortunately, my absence from my children was even more difficult. Although, I’m not hoping to be separated from him again, it’s a reality of my reality. Meaning, since I know it has happened before, I’m not naïve that it could happen again. If so, I’d like to be better financially prepared.
Debt is a stressful burden.
This is pretty self explanatory. The burden of owing someone and being indebted to them and havoc that can result I decide to not pay or not pay timely is stressful enough to motivate me to eat beans and rice to make sure that any extra penny available is applied to lowering balances.
I HATE restrictions.
I absolutely hate restrictions of any kind. I just want to do what I want to do. Right now, I’m
restricted to my home iced in and I really wish I could fly to the tropical island and absorb some sun.
Right now I want to see Beyoncé, and Adele, and some comedians but can not afford many of the tickets because of my debt journey and my determination to become debt free. Even if I wasn’t on a journey, my budget would be restricted from purchasing tickets to ALL the events because of the minimum payments to ALL the LENDERS.
I no longer want to be a statistic.
I’ve had a child at 16, two more by 25, dropped out of college (but returned) and been a recipient of welfare. Those are all unchangeable statics of my past. However being a household of consumer debt, with $100k in student loan debt can and will be changed. I refuse to be a statistic of consumer, student loan or what is also defined as “good debt” at all.
I’m certain as I continue on my journey, I’ll find more reasons that continue to motivate me to accomplishment. As for now, these are the ones the are plastered in my brain, on journals, in calendars and hand written and folded up in my Bible.
What are your reasons? How many do you have and how often do you remind yourself of them?
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