Saturday, January 31, 2015

The Plan

I plan to pay off my loans a few different ways.

Last year, I “pretended” like I did not get a raise at work and took the extra $120 a month and put it straight towards my student loans. I plan to do the same thing this year with my raise to add to the $120 I already put  towards my loans. It may be tempting to  celebrate and spend your raise, but if you do it once, it is harder to keep the discipline of going back to pretending like you don’t have it.

I also get the occasional quarterly bonus from work that I also put towards my loans.

I have taken clothes and other items that I am not going to use or no longer care about to my local consignment shop.

I sell used items that the consignment shop won’t take like old video games and books on Amazon.

Not getting a raise this year?

Do you:

Have cable or satellite?

Have magazine or newspaper subscriptions?

Have a gym membership that you don’t use?

Have any membership that you don’t use?

Get your hair and nails done?

Have someone come in to clean your house when you are capable of cleaning it on your own?

Have someone mow the lawn or do any other maintenance that you are capable of doing on your own?

Go out to eat more than once or twice a month?

Eat fast food?

If you stop doing any one of these things or a combination of several of them, then congratulations, you have just given yourself a raise. I know that you may be thinking that “I HAVE to have my hair done.” or “I HAVE to have satellite are you kidding me?” Just remember, these things are temporary and you don’t have to give up everything. Just look at the things in your life that are priorities and eliminate the things that aren’t.

My gym membership is a priority because I see it as an investment in myself (and I love working out).

I could go without television because whenever I take the time to actually turn it on-there is nothing on that I am interested in watching-so I turn it back off and grab a book or go outside. My husband CANNOT go without television and so it stays. I chose when I sit down to watch a program with him or do something else. My life does not revolve around several shows that I have to see every week.

I do not get my hair or nails done. I clean my house myself. My husband loves working outside so our lawn and landscaping is taken care of. We stay away from fast food for the most part, but we love going out to eat for date nights.

You have to decide what will work for you and what will not. Just remember that these changes are temporary. After your loans are paid off and you are debt free, you can use that money however you like.