You almost had me today, Target. If you know anything about me, you’d know just how unfortunate it is that even Target can still trick me into spending money on things that I don’t need.
In the past, I have had the worst impulse buying habits. You know that classic tale of walking into a store for that one item you actually need, and spending $100 on everything but the item for which you came. I can never help myself. Well today was the day I won. My biggest weakness is, of course, clothing. After I picked up (and paid for) my necessary item I somehow felt the inclination to peruse the men’s department. I saw multiple items that were both in my size and cheap on top of that. There was a particular article of clothing that was only $9.99. That’s it. An older version of myself would have made the purchase without hesitation. Today I found the urge to stop.
Why is this happening? What has changed? To be honest, as 30 is fast approaching, the realities of adulthood with its more mature desires and needs are starting to become more and more real. Up until this point, I always thought I’d find a partner to start making these decisions. You know the ones like paying off debt, or saving for a home. Last year I came to the conclusion this was pretty much stupid – stupid being the idea of waiting for someone to start.
I’ve done the math and figured out a plan. I took all my debt and piled it up in order and used a spreadsheet to calculate how I can pay off my credit cards and student loans. There are a couple of different scenarios, but the best one has me finished paying off all this debt within the next 24 months – something I never thought possible. The primary reason I’d never finish is because my boss admitted that it took him 20 years to pay off the same amount by paying minimum payments. Then after that I can start saving towards buying a home. There is no reason why I can’t start saving up to purchase my own home and only in my name.
There’s an element of excitement that goes in hand with having a plan and a goal to work towards. I equate it to all the fitness work I’ve been doing. At first, there seemed to be no end in sight, now I’m really starting to see results. With a financial plan, it’s about budgeting every dollar to make sure I’m not overspending on things I don’t need and literally shoveling money at the debt I have. With proper planning, I’ve been able to pay thousands of dollars in 60 days. It’s possible, but it’s about sacrificing today so that I might enjoy life tomorrow. I need to be an adult and prioritize tomorrow’s happiness and security by prioritizing today’s finances.
I am ok with the outcome of that scenario.
Until next time,