Are you afraid of debt?

November sucked for our debt snowball.

Here’s why:

We spent over $700 on groceries – not even including two trips to the specialty wine store where I spent at least $50 … each time. (In my defense, those little bottles add up so easily.) Our budget is $500, or $125 per week.

Another $288 went for eating out. Our budget is (supposedly) $80 per month.

This is just the tip of the overspent iceberg in November.

Budgets are tough. I hate NOT spending money. I don’t like thinking about NOT spending money. It’s NOT fun.

On the flip side, I love the thought of financial freedom, of having a savings, of being smart with money rather than $400 dollars stupider.

Here are some solutions for December:

Double accountability. It’s hard and annoying to keep track of a budget. Choose two areas – like groceries and eating out – and ask your partner to help monitor spending. Or adopt a “cash only” rule in these two problem areas.

Have a merry Christmas. Not a merry spend-fest. How can you save money this year? I decided not to send Christmas cards – for a savings of about $60.

Find a way to fear debt. One of the reasons I got into debt in the first place was that it wasn’t scary. I’m not sure I ever planned to pay it off completely… I had decided, “Well everyone has a little debt.” Now, the thought of debt scares the hell out of me. Find a way to let it scare you – as soon as possible. Pretend it looks like this:

Photos by by sara b. | 2009 and Chris Gin

{ 4 comments }

1 Miranda Paul December 10, 2009 at 2:54 pm

Your advice on setting a “cash-only” budget for the most problem spending is key. My husband and I did that months ago. Barring a few “emergency” purchases, we’ve been pretty good about it. Cutting up all but one credit card helped significantly. To responsibility!

2 Melissa December 10, 2009 at 9:29 pm: I’m glad you cut up your credit cards. We really need to start using cash. I’m already scared to look at how much we’ve spent eating out.

Or maybe we need a bigger eating out budget!

3 Gina September 7, 2010 at 2:07 am

Aloha!
I know this is an old post yet I wanted to support your efforts to be afraid of debt. The good kind of fear you know what I mean!
As an older gal who is so in love with her simple life of no TV (good God who has time?) non-the less a cable bill, a lover of the library (in Hawaii we have audio and down loadable books on the web with our library card …who says we are behind the times out here) and fresh simple food, I wanted to say to you BRAVO!

Keep up the good fight and you will have a lifetime of love and beauty beyond your wildest dreams.
My children are 27 and 29 and I never regretted a moment of staying home with them and “keeping house”. Keeping life simple and slower than many.

You are so right-on with your path I wish you continued steps of contentment and love.

Aloha, Gina
(from blogger club)

4 Melissa September 8, 2010 at 10:16 am: Hi Gina – Thanks for stopping by my blog. Keeping life simple is really the cure for all the burned out moms in America. Nice to meet another hybrid homemaker.
Keep in touch!
Melissa