Debt Free In '23 Challenge.

[Jay Walk]

I really should consider getting a second job that doesn't involve hanging around guns all day. Maybe burger flipping.

In Portland you can have both.

 

[Jay Walk]

Just made a $1500+ payment towards debt. Debt free in 23 is still within reach (if I can lay off the gun purchases for a bit).

Keep after it.
My biggest motivator was I am getting close to retirement and not wanting any payments at that time.

You totally can do this.

 

[arakboss]

Keep after it.
My biggest motivator was I am getting close to retirement and not wanting any payments at that time.

You totally can do this.

Thanks, I have an extra payday coming up around September so I should be able to knock this out by January, if I quit finding firearm deals I can't resist. Unfortunately the deals are becoming more bountiful as the year goes on.

If a recession finally materializes in 2024 the deals might get even better. That should be my motivation to wait.

 

[Jay Walk]

Thanks, I have an extra payday coming up around September so I should be able to knock this out by January, if I quit finding firearm deals I can't resist. Unfortunately the deals are becoming more bountiful as the year goes on.

If a recession finally materializes in 2024 the deals might get even better. That should be my motivation to wait.

I used to love the three payday months.

There is always a gun deal to be had.



Another thing that helped was quarterly goals.
In three months, I want to have done....

Was easy to exceed those small quarterly wins.


I am no financial advisor (far from it) just sharing what worked for the wife and me.

 

[arakboss]

Just made a $1000 payment which will drop my balance down to under $1350. If all goes well I should be debt free again by 2nd weekend of Sept.

I can already tell, this is not going to be a spectacular feeling like the debt free screaming people on Dave's show would have you believe. Money is just money. I wouldn't get to wrapped up in what the world does with it. Stuff is better.

 

[arakboss]

Once the debt is paid off, I will have some extra cash every month to use elsewhere. I would like to use much of the extra cash to reduce my future reliance on cash.
Instead of building wealth to support a more lavish lifestyle, I want to simplify my lifestyle to lower the amount of money required to support it.

I live pretty frugally now (except for spending to much on gun stuff) but there is almost always room to downgrade your lifestyle.

 

[Kruel J]

Just made a $1000 payment which will drop my balance down to under $1350. If all goes well I should be debt free again by 2nd weekend of Sept.

I can already tell, this is not going to be a spectacular feeling like the debt free screaming people on Dave's show would have you believe. Money is just money. I wouldn't get to wrapped up in what the world does with it. Stuff is better.


View attachment 1472695

Stuff is better? You're north of 50, maybe you should consider your family's financial future and retirement instead of more stuff for yourself.

 

[arakboss]

Stuff is better? You're north of 50, maybe you should consider your family's financial future and retirement instead of more stuff for yourself.

I have come to the realization that retirement is never going to happen for me. Working part time until death is a more realistic goal. Extreme frugality is going to be the path that gets me there, sooner rather than later. That will likely involve paying for less stuff or buying stuff that will save me more money than I spend on the stuff. There is lots of free stuff out there too.

 

[Kruel J]

You value "stuff" more than your own family. You show it time and time again with your poor spending habits and your comments about more purchases. You could stop all the spending and start saving that money for when you can't work anymore. The plan of working until death is unrealistic because you will reach an age where being employed is no longer an option. Then what? Your poor family gets to scrape along trying to take care of you? You're setting your family up for financial failure based on your selfishness.

 

[arakboss]

You value "stuff" more than your own family. You show it time and time again with your poor spending habits and your comments about more purchases. You could stop all the spending and start saving that money for when you can't work anymore. The plan of working until death is unrealistic because you will reach an age where being employed is no longer an option. Then what? Your poor family gets to scrape along trying to take care of you? You're setting your family up for financial failure based on your selfishness.

Edit: Thanks to all the taxpayers out there contributing to PERS, my family will be much better off than I.

 

[Jay Walk]

Saved wife's student loan for last just in case those Biden Bucks came through

Paid $1,500 last week and will pay the last $1,500 next month + $4.00 for interest.

Then it's debt free but on to a new kitchen, newer car for wife, chimney cap is crap...

Etc.


Free and clear homeownership by country.

1. Lithuania = 83%
2. Slovak Republic = 69%
3. Hungary = 68%
4. Slovenia = 68%
5. Poland = 66%
6. Greece = 63%
7. Latvia = 61%
8. Italy = 60%
9. Estonia = 57%
10. Japan = 48%
11. Spain = 48%
12. Chile = 45%
13. Ireland = 43%
14. Portugal = 43%
15. Luxembourg = 42%
16. Korea = 41%
17. France = 37%
18. Belgium = 35%
19. Finland = 34%
20. United Kingdom = 33%
21. New Zealand = 32%
22. Austria = 30%
23. Australia = 29%
24. Canada = 28%
25. Germany = 27%
26. United States = 23%
27. Denmark = 11%
28. Netherlands = 9%

 

[arakboss]

Challenge Complete, I am debt free.

Since Dave is not inviting me on his show, I am providing this substitute debt free scream.

 

[arakboss]

Next stop is working part time instead of full time.

 

[monkeybutler]

Next stop is working part time instead of full time.

Next step should be working full time and building up some savings.

You should have at least a year worth of living expenses set aside.

 

[Meridian7750]

Challenge Complete, I am debt free.

Since Dave is not inviting me on his show, I am providing this substitute debt free scream.

Congratulations!

 

[Kruel J]

Next step should be working full time and building up some savings.

You should have at least a year worth of living expenses set aside.

Exactly.

 

[arakboss]

Next step should be working full time and building up some savings.

You should have at least a year worth of living expenses set aside.

I am going to save the wealth worshipping for others. I will settle for just getting by.

Edit: The less dollars I hoard the more dollars you guys can scoop up.

 

[Kruel J]

I am going to save the wealth worshipping for others. I will settle for just getting by.

Edit: The less dollars I hoard the more dollars you guys can scoop up.

That's a specific choice, and one that affects your family as well. It's not wealth worshipping to work hard to provide and build a financial future.

 

[monkeybutler]

That's a specific choice, and one that affects your family as well. It's not wealth worshipping to work hard to provide and build a financial future.

Right.

I just want stability. I ain't wearin' no Gucci bandanna, or driving a fancy car, but if my job field tanked I could not work for quite some time and be okay.

I think a lot of the time wealth worship is displayed by those who have minimal wealth, and max out their monthly income on payments on a Lexus or similar. But then they can't afford to fix a big dent or a cracked windshield. We've all seen plenty of those driving around.

 

[Kruel J]

Right.

I just want stability. I ain't wearin' no Gucci bandanna, or driving a fancy car, but if my job field tanked I could not work for quite some time and be okay.

I think a lot of the time wealth worship is displayed by those who have minimal wealth, and max out their monthly income on payments on a Lexus or similar. But then they can't afford to fix a big dent or a cracked windshield. We've all seen plenty of those driving around.

Agreed. People tend to be more worried about impressing people they don't know than being financially responsible.

I also think that people intent on just getting by are inherently lazy or have low ambitions to begin with. I don't think that's something to celebrate, especially when people have families to support. One's own desires, or lack thereof, shouldn't be the deciding factor when there is a family involved.