I was reading a nice article explicitly aimed at Millenials but really for anyone ( http://www.dailyfinance.com/2014/09/16/29-money-moves-that-millennials-need-to-start-making-now/ ).
The list has tons of great advice, but number 17 in particular caught my eye: “Visualize what debt-free will look like — then write it down”. Here’s my brief attempt at that and, for a follow-up, I’ll write a bit about how my year has gone as far as debt stuff.
Being debt free is becoming more of a reality nearly every single day. I imagine that life won’t be much different than it is now with one major exception; I won’t have to write a check or two each month that I do now. Instead, I will be investing in one form or another (self, IRA, sellable things, etc.). I also imagine that I won’t feel such a rush to sell some of the things that I have been to be able to pay off this debt. One more thing that I hope will be different is that my life at home will be a bit more full of things that I actually want to do instead of things that I have to do. I want to spend more time with my kids and family and friends and more time doing activities that I truly enjoy. I want to spend less time going through things to sell: taking pictures, typing descriptions, negotiating, etc. The thing that I will enjoy most of all is the added freedom. I will be much more free to do as I wish with my time and money instead of having to pay for someone else’s standard of living.
Year in Review – The Debt and Other Financials
I will be writing a check tonight to pay off one debt and another one closer to the end of the month for the interest on that debt. That will be the end of a whirlwind of debt repayment to the tune of $8k over the past year. One more debt to go. It’s a biggie, but very manageable ($15.5k). On the positive side of things, I started an IRA and long-term investment funds with Betterment (currently valued at $571) as well as seeing my 401k rise nearly $10k in value since January 1 (including my contributions of ~$3k + $1.5k match). This has been a great financial year and I am very much looking forward to the next. My student loans will be paid off in Dec. 2015 and I will hopefully be completely debt free within two years from now (Dec. 1, 2014).
I thank everyone that reads this for doing so and helping to keep me motivated. I give a great thanks to Mr. Money Mustache and Listen, Money Matters! for being a huge kick in the pants and excellent constant motivation. Have a great rest of 2014 and an insanely awesome 2015!