Camp FIRE Finance
A personal finance community for those seeking FIRE, by those seeking FIRE
Have you ever wanted something so badly that you’ve said “I’d to ANYTHING to have that!“?
I have too, but unfortunately that statement rarely comes with any real teeth. Mostly the wish rings hollow. Once we find out what it really takes to get whatever it is we’re wishing for, we’re unwilling to put in the effort or make the sacrifice.
The biggest struggle in my journey to financial independence hasn’t been finding ways to improve my budget, reduce my expenses, or even increase my income. The hardest part has been trying to find the patience to wait for success to show up. But success is like a blister – it shows up once the hard work is done.
The three biggest expenses in most budgets are housing, food, and transportation. I feel like I’ve got a good handle on our housing and on transportation as well. But sometimes (like monthly) it feels like I’m going broke from eating out. Restaurants do some serious damage to my budget and from what I read on Twitter and other personal finance blogs, lots of you feel like you spend too much money eating out as well.
Oddly enough, it took figuring out how much money I was spending at the grocery store to finally motivate me to change my dining out habits.
Have you got a steady income and can afford to pay your bills each month, yet you’ve got an uneasy feeling that you’re headed for some financial trouble? The first sign that you’re on thin financial ice is that you think paying your bills means that everything is good.
There are two main strategies for paying off debt. I’m sure you’ve heard of both:
Both are fine options and I wouldn’t disagree with you for choosing either of these methods, but I’ve got a third debt elimination plan for you to consider. One that I don’t think you’ve heard of yet.
[Read more…] about A Different Debt Elimination Plan: Make It Personal