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Financial Abundance in 2014

Last post Sat, Jul 19 2014 8:40 PM by tracyinmn. 128 replies.
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  • Wed, Jan 1 2014 6:59 AM

    Financial Abundance in 2014

    Hello fellow dollar stretchers,

    I am starting this thread to show that financial abundance can enter our lives.

    I have begun by writing down all of my expenses and income to see how much I have to work with. I will also take care to write down every single penny that I spend to really get a hold of my spending. I have already decided to stop having my morning cup of coffee and breakfast for ($2.75) three days a week and I will no longer eat lunch at school on Mondays ($4.81). It is a small start and I will see other ways to save money as well, but, we do have to remember that the small amounts add up.

    Still paying on student loans and every single amount that I save will go towards the debt.

    Let's make 2014 a spectactular year for eliminating debt.

    Sending love and good vibes to all here,

    Shawn

    You control your money. Don't let your money control you!
  • Wed, Jan 1 2014 2:30 PM In reply to

    Re: Financial Abundance in 2014

    Shawn, thanks for starting the challenge! 

    I am entering 2014 with $13, 916 in credit card debt, down from about $20,000 at the beginning of 2013.  I did incur more debt with a new to me car with a hefty payment.  However, I am working on the credit card debt, which is the most costly. I can only do a few things at a time.  I also have a $0 payment on my student loan right now as it is income based.  I am not going to worry about it this year.  

    I would love to pay off my credit card debt in 2 years.  I think I can.  I am making little payments in addition to the monthly payments when I can, on line and at the bank. 

    I am going to keep it cheap, keep a realistic budget, and keep an eye on the balances.  I think my costs will go up this year with two in college, but still hope to pay half the credit card debt and pay off the orthodonist bill. 

    Let's keep frugal and get rid of debt that we can, and hope to encourage each other that we have enough. 

  • Wed, Jan 1 2014 5:02 PM In reply to

    Re: Financial Abundance in 2014

    Those two words are so great...Financial Abundance! I wonder if even millionaires ever come to that point? Keeping track of every single penny you spend works very well. We did that for years and finally got to the point that we no longer had to write it down...we were doing it mentally! :) I think too that those who incur No New Debt should also get a pat on the back! I can't emphasize enough to our grown children how important it is to save for retirement...to go into retirement with no debt. Even if you are 20 yrs. old, put a buck away now and then. I've mentioned before that I kept graphs of our debt so it encouraged me by seeing the picture in my mind. And Red...if you are cutting out that coffee and a lunch, you will have $393.12 to put onto any other debt you have. BTW...I'm not familiar with how student loans work. When you are paying nothing (no income) does your interest still accrue?
  • Wed, Jan 1 2014 5:39 PM In reply to

    Re: Financial Abundance in 2014

    Thank you for starting this thread! After 2013, I could do with some Financial Abundance! I downloaded a free spending tracking app and started using it last month. I was shocked to realize how much money I've been frittering away with seemingly small purchases! And I consider myself frugal! Well, now that I've identified some budget leaks, I will be working on stopping them! Wishing everyone here success in their financial goals this year!

    Philippians 4:19

    And my God will meet all your needs according to the riches of his glory in Christ Jesus
  • Wed, Jan 1 2014 5:46 PM In reply to

    Re: Financial Abundance in 2014

    Our goal is too be debt free by retirement. only real debt is the mortgage.   Dh is selling his dads car..92 and people ask why it is old and we say because it was his last car. He stopped working in his early sixties and died close to his 80th bday. His dad kept it in good shape also.

    Watching our pennies, need to set up a new budget too.  goals for the year etc. too. have debts to pay off still from the vets and other things that came up this year. we paid for the hot water heater but then no money for debt.

     

  • Wed, Jan 1 2014 7:56 PM In reply to

    Re: Financial Abundance in 2014

    Kassy:
    BTW...I'm not familiar with how student loans work. When you are paying nothing (no income) does your interest still accrue?
     

    Yes, it does. That is, unless you decide to pay the interest while it accrues. Talk to your student loan lender to find out more information.

     

    You control your money. Don't let your money control you!
  • Wed, Jan 1 2014 8:04 PM In reply to

    Re: Financial Abundance in 2014

     Shawn, good to see you here. I had thought of you during Christmas. Wondered if you came home to see family. Have a wonderful New Year. Babs 

  • Wed, Jan 1 2014 8:06 PM In reply to

    Re: Financial Abundance in 2014

    I am so glad that others are taking on FINANCIAL ABUNDANCE in 2014. We have to believe that we can do it and talk the talk as well. This is a daily task and we will have setbacks, but, through those setbacks, we find endurance and what we are really made of.
    You control your money. Don't let your money control you!
  • Thu, Jan 2 2014 3:51 AM In reply to

    • swedluv
    • Top 50 Contributor
      Female
    • Joined on Sun, Jun 8 2008
    • North Carolina
    • Posts 1,713

    Re: Financial Abundance in 2014

    Hi Shawn!!!! Hope you are doing well! Hope everyone had a good Christmas, now it is time for me to get things handled. Our current debt load is $50,992. It is down from last year, but not enough. I have been trying the snowball method with some of the smaller bills, but the interest on Lowe's is killing me, as I am paying more interest than principal. I think for at least the next 6 months that should be the bill I throw extra money at. Something has to give. We are still remodeling some in the house, so money out there. DS 15 gets his driving permit next week, so thoughts of a car have been running rampant. He does understand he will have to pay at least half of whatever car he gets, then work off the rest.
    Lynn


  • Thu, Jan 2 2014 4:26 AM In reply to

    Re: Financial Abundance in 2014

    Lynn,

    Things are going great. Hope that you and your family had a wonderful Christmas and new year as well. I would agree to throw extra money at the Lowe's bill and that way, you get rid of it. Good plan about DS and that teaches him how to handle money at a very young age.

    Take care and let us know how things go.

    Cheers,

    Shawn

    You control your money. Don't let your money control you!
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