I always wanted to live a life of comfort. Comfort for me is having all my bills paid, with enough left to have fun. After a while, my perspective changed. I should have expected this knowing that I am human, and to err is human. Having enough is simply not good enough. In the end, all I want is to be content with my life.
Between the age 18 and 23, I did not know I what it meant to be content, nor what I wanted in life. As result, I am paying for it…literally. At age 25, I realized that life is not about what you have, but what you value the most.
So I created one financial goal to reach for so I would not stray from the path leading my financial Nirvana: To be debt free. It is easier said than done. But what is the harm in trying? So to become debt free, I researched many articles about credit issues, income tax, and retirement planning. I found some tips that were good in theory, some that were just too weird, and others that worked amazingly well. The ones that worked best for me became part of my everyday plan to develop better financial habits. My plan is simple and straightforward:
The Plan for 2010-2013
1. Be realistic
2. Become a “paperless” person.
3. Make retirement contributions, savings deposits, and bill payments automatic(in this order).
4.Turn hobbies into additional sources of income.
5.Lower the cost of fixed payments (i.e. insurance) and installment and revolving debt.
6.Trim the cost of living.
7. Cut back on “luxuries”.
These are steps I take everyday to stay focus on my ultimate goal.
And honestly, my future posts will show if I can put my money where my mouth is.
"Putting My Money Where My Mouth Is" is a journal about real life experiences and concerns of Jéneen R. Perkins. The purpose of the blog is to exhibit the real life challenges and answer the tough questions posed by the concepts of business, entrepreneurship and money.