Did I hit the wall on my debt success Journey?
Nobody said change is easy. Especially when it comes to paying off debt, creating a budget, and cutting back on credit card spending.
When I began this journey, I started making tons of progress.
- I got rid of my storage locker,
- Reviewed my bad spending habits- see the dumbest stuff I bought last year,
- Cut back on wasteful spending like my health club membership, expensive car insurance, XM Satellite service, and so much more.
- I went so far that I cut pizza delivery out of my budget.
It was great. And I cut down on my debt substantially. I had tons of momentum.
My debt reduction plan was making progress. I even started this financial blog to keep me motivated. Which was a great decision too. And thank you all for your support! (And If you’re ready to launch a blog, read the 7 Golden Rules to a Profitable Blog here.)
So, what happened?
I hit the wall last week. I’m not sure exactly why. But, when I bought my new glasses (and got ripped off), I lost some serious momentum. Let me explain.
Adulting: noun. The practice of behaving in a way characteristic of a responsible adult, especially the accomplishment of mundane but necessary tasks.
Budgeting: I’m starting to budget and plan ahead, which is great. But, in all honesty, I was in the habit of doing whatever I wanted whenever I wanted with my money. Change is hard.
It requires patience and discipline to become financially free, debt free, and retire early. It’s a process.
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Children do what feels good. Adults devise a plan and stick to it.” –Dave Ramsey
And that applied to money as well. So, the same day that I finally decided to get glasses, I realized that U2 was coming to town that same weekend. And I wanted to go.
One problem: the cheapest tickets were $250. The bad seats were $250. Ugh. And I had already spent a lot of money on a great concert earlier this year. However, this seemed like a total ripoff.
When did concerts get SO EXPENSIVE?
When did everything get so expensive?
Why is everything so expensive when I’m trying to cut back, get out of debt, and save money?
A few tips on spending less on Concerts:
- Change Venue: Ticket prices can vary depending on the location of the concert — even for the same artist and the same tour. Compare prices at concert venues to find lower prices.
- Check out the nearby shows: If you live in New York, you can do a quick weekend trip to Philly or a weekend trip to Boston.”
- Sit solo: When searching resale options, you’ll generally see better deals on single tickets, says Jessica Erskine, a spokesperson for StubHub.
- Attend shows at the fair: OK, maybe Taylor Swift still isn’t in your budget. If you’re not picky about who you want to see live, check the fair circuit. Some county fairs grant free admission to a concert along with paid entry to the fair, which usually costs less than a concert ticket.
- Earn cash back: I use Ebates and they give me cash back for nearly all of my purchases including ticketing websites. Ebates gets a commission from stores you shop at and they share the commission with you. Average cash back is about 7%, which is great. Right now, they are offering a Free $10 Gift Card when you join and spend $25. More about Ebates Here.
Relevant Articles:
44 Ways to Create Extra Income
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Taxes come first: This year I decided that I was going to pay my quarterly business taxes on time. And not wait until April 15th and get hit with a huge tax bill again.
Well, my next quarterly payment is due soon. It’s on my calendar. Its next month. So, I know that I have to pay for taxes, glasses, my bills, savings, and investments. As well as Double car payments to have my car paid off in the next few months.
More on my last car payment here.
Bottom Line: The U2 concert didn’t fit in my budget. Retiring early and paying down debt are more important than a concert.
This adulting stuff isn’t easy and I’ve been low level annoyed all week. And I think it sent me into the wall.
There are choices. Everyday. And when you budget, you realize that all expenses count.
No more putting things on a credit card and letting the debt pile up.
Even taxes and healthcare. Concerts are worth spending money on because they’re fun and you have memories and post it on Facebook.
Does anyone post on Facebook that they paid their taxes? Welcome to adulting.
Adele in Concert
The upside: Of course, I will survive missing the U2 concert. And when I pay off my car in a few months, I will be psyched. And I am making a lot of progress towards early retirement. Staying motivated on the debt free journey is critical.
Staying Motivated: Next to my check book, I keep a list of all the ways I have been saving money.
There are about 24 things on it:
- cutting back on healthcare premiums,
- expensive car insurance,
- less expensive health club membership,
- canceling my storage locker,
- cancelling magazines,
- negotiating a discount on my XM satellite radio.
- and many others.
Reminding yourself of all the positive things you’re doing to pay down debt and retire early is essential.
Keep focusing on the long term goal. Be prepared if you hit the wall.
But keep going!
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