Changing Your Spending Mindset

If you haven't already figured it out, I'm a born spender.  The hardest part of my debt journey has been switching from a spending mindset to a saving mindset.  I go through phases of extreme frugality and occasionally end up splurging and spending $500 in a day on something I don't need.  I struggle with this every day and know its going to take time to fix.  So what can we as spenders do to change our mindset? Think of…

Are We Too Open About Money? 

I read hundreds of stories online about personal finances and sometimes wonder - are we too open about money?  Talking about personal finances has become less taboo in recent years, but are there some things we should just keep to ourselves?  My parents and grandparents have mentioned in passing (quite a few times actually) that I shouldn't reveal so much about my financial life.  Their generations never spoke openly about money and generally kept everything under wraps.  You never knew if…

How To Fight Frugal Fatigue 

When frugal fatigue hits it can devastate even the most motivated of pdebt slayers.  I've been through this stage many times during my journey.  You're tired of being the one that always feels behind financially.  You feel like you're treading water and starting to drown.  It's a horrible feeling when you've been pushing for so long and progress just doesn't seem to come quickly enough. I'm facing my own frugal fatigue this month.  It's been one thing after another and…

Why It’s So Hard Talking About Debt 

Have you ever had a conversation with a friend or relative about debt that went completely wrong?  Or was just plain awkward?  I'm a huge proponent of being open about finances because I think it creates a learning experience for all involved.  I find that talking about my financial mistakes openly is beneficial for others as a learning experience.  I also enjoy others stories about how they've conquered debt or saved because it gives me hope and inspiration.  Reading financial…

How I Managed to Rack Up $17,000 In Credit Card Debt at 23

In previous posts, I mentioned that fun time period when I was 23 and managed to rack up $17,000 worth of credit card debt. I would love to say this is an intriguing story of a misguided youth trapped in a vicious cycle going down the wrong path.  It's more of a story about me acting like a complete entitled brat after college, but enjoyable nonetheless.  You have to admit, stupid money mistakes make people feel better when it wasn't them that…

My April Budget 

I thought I would give some insight into what my monthly budget looks like in Google sheets.  I created this template years ago but didn't start using it seriously until my debt free journey started a year ago.  I use the "reverse budgeting" tactic.  Reverse budgeting means that you list out your income for the month, deduct all of you expenses and debt payments, and what's left is what you have to spend.  I get paid every two weeks so…

How To Be Social While Paying Off Debt 

One thing I consistently struggle with is being social while paying off debt.  I'm single and in my 20's so most social events are at restaurants or bars multiple times a week.  On average I spend about $30 each time I go out.  That includes roughly 2-3 drinks and an appetizer eaten at the bar or shared with friends.  If I continued to spend $30 four times a week out that would be $120 a week, $480 a month, and $5,670…

My Minimalist Apartment That Fits In My Minimalist Budget 

I recently downsized to a minimalist apartment to fit my Minimalist budget.  I had been thinking about downsizing for a while so I can speed up my debt payment and finally took the leap.  There are definitely some drawbacks to downsizing but I think overall it's working for me.  The biggest drawback for me is security.  The security of the bigger buildings I've lived in has always been great.  My last building was on the third floor and you couldn't…

Butting Heads With Your Family and Friends While Paying Off Debt 

I want to take a minute and talk about family and friend support while paying off debt.  When I started my debt free journey I didn’t expect it to be easy and I didn’t expect everyone to understand.  I did, however, expect my family and friends to be supportive, which they have not been at all.  It's a very strange feeling arguing with your family and friends about your personal financial situation.  I'm a true believer that you should respect…