I have been hell-bent on August 15th. That was my (admittedly aggressive) target date to pay off my final debt. My car.
Anyone who knows me even remotely well can attest to the fact that once I set my sights on something, I have blinders on. Full speed ahead!
And this is a post about how that derailed my plan with paying off my debt.
But first, let’s talk about sacred cows. I’m not talking about cows in India, I’m talking about that ONE thing you are willing to spend money on. The one thing you are not willing to cut out of your budget while on your journey to becoming debt-free, or even financially independent.
And my sacred cow is travel related to my long-distance relationship. (He’s a very handsome cow 🙂 )
I knew a few months ago that I would be in Bend, Oregon twice in August, and I’d be flying to Wisconsin for his IronMan in early September. But I NEVER thought about budgeting for the tickets.
(Do you hear that?? Yep, that’s the sound of my palm slapping my own forehead.)
My focus was so narrow on that payoff date of August 15th that I wasn’t even thinking about anything else financially. Until two weeks ago.
Once I finally realized that I needed to book flights (or deal with the high price tag of last minute tickets) I figured I had some airline miles I could use to buy at least one of them.
Nope. I failed to plan there too.
So three flights and roughly $1,000 later, my new debt pay off date is September 15th.
I am annoyed that I didn’t plan well enough, but I’m also oddly okay with this botched budget. It was the best possible reminder at the end of this debt-free journey that I still need to be looking a few months out. I need to remember that it’s beneficial to look ahead and start building in savings for things coming up, whether it’s car maintenance, getting my hair cut and colored, or obviously, upcoming flights.
I’m also okay with this because, well, it’s for the sacred cow.
So, my friends, the countdown is reset. 43 days to go!
4 Replies to “My Botched Budget. New Debt Payoff Date = September 15, 2019”
Paying debts off early, impressed, living debt-free, more impressed. Well done.
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Thank you so much! I’ve been chipping away at this for so long I can hardly believe the light at the end of the tunnel is finally getting bigger!!
Nice on setting the date and (mostly) sticking to it!
My wife and I have a long way to go, and dumb things still hit us all the time. This month it’s that we forgot about renewing car tabs. We have done it EVERY SINGLE year for the past 25+ years, and this year we just totally spaced, which is lame when we’re trying to pay off debt and living on a shoestring budget to make it happen.
Congrats again on the impending debt-free date!
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Thank you for the kind words! I swear, it’s like the laser focus we get on paying off debt sometimes causes us to forget the obvious – like car registration renewals and plane tickets! 🙂 Great to hear that you and your wife are tackling the debt together – beans and rice are a lot more enjoyable when you’re enjoying them with someone you love! 🙂