What made me begin this debt-free Journey?
In one of my favorite books on personal finance, there is a quote that reads, “A part of all you earn is yours to keep.” It is true. It is wise. But it only applies if you have a budget and decide to keep a part of what you earn.
Otherwise, all that you earn goes to consumer purchases, credit card debt, student loans, and new restaurants. At some point, it becomes necessary to take back control of your money. In this post and in this blog, there are lessons that I learned the hard way. Learn from my mistakes and advice.
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Life after Debt: How it all began
I had had Enough
It wasn’t a huge bill. It was $162. The storage place I had been using decided that I wasn’t paying Enough. It wasn’t a big deal when I started renting my storage unit. It was less than $100. I believe it was $97.
And here I was staring at a letter from them explaining that $162 for a storage locker seemed fair to them now.
$162 for a storage locker? Now, mind you I had never even visited my “stuff” at this place. It just sat there. And every month on my credit card bill I paid $97 because that’s the way things are. What else could I do? And this wasn’t nice stuff or expensive stuff. It was yearbooks, photos, baseball cards. The stuff you accumulate in a life of accumulating stuff. I tried to negotiate, but they explained that they were more expensive than other storage places because they have air conditioning for my stuff. My stuff got the first class treatment. I felt even worse.
I admit I kinda snapped.
Not immediately. But in November around Thanksgiving after listening to one too many Dave Ramsey podcasts, I just said no more.
No negotiating. Not a lower rate. Zero. Zilch. NADA. I WAS DONE.
I wasn’t paying another dime to these folks. It was lazy and stupid and wasteful. My baseball card collection at best was worth $2,000. So, a year in this place cost me $1,944. No Way. No more. I took a bunch of garbage bags and cut everything down in half and threw it out. And took 6 boxes home with me that night. The next morning I cleaned out the last 6 boxes and ended my contract.
Savings: $1,944
Frugal tip: when you show up with bags and take boxes home, they will negotiate. More tips and strategies on negotiating discounts.
For me, it was way too late. I was done.
It was amazing. I felt so great. My expenses were in my control. Every penny that goes out on my credit card bill was under my control. I wasn’t paying another dime unless it was something that was actually adding value to my life. I started cutting back and creating a budget.
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I have a few extra boxes in my home from cleaning out the storage locker and will try to reduce and sell off these items on Ebay. Tips on how to create fast cash on Ebay here.
I’m on a bit of a minimalist kick right now anyway, so having fewer items in my life is fine for now. Less clutter. More space. More financial freedom.
That’s what got me started. And from there I paid off $17K in debt in one year.
How did I do it?
- I got organized,
- Negotiated discounts on my purchases,
- sold stuff on Ebay,
- developed a side hustle,
- and create a blog to share my story.
So, here we go. Thank you for being part of this journey
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