Monday, 25 April 2016
The title says it all. Our priorities are shifting. Inside, psychological shifts are occurring. The desire to spend money on things is lessening, and the desire to spend money on getting out of debt is increasing. Wow! Are we the same people we were just a month ago?
This also means a shift in our savings plans. The retirement plans we have continue to be funded, and the savings account will still be stocked, but with perhaps less cash on a monthly basis than originally considered. Instead, extra money will be allocated toward the debt on CC#1 to pay it off by the end of June. And then we can begin in earnest on CC#2, which is the worst one – not the highest one, but the worst one – of the three. It has a horrible interest rate.
One of the problems we have is that my income is rather variable, as it is dependent on the hours worked each month. As a teacher, I am paid monthly, on the last working day, for the previous month’s work. The district in which I work does not disburse our pay evenly throughout the year. Some months have a lot of hours, and some have few hours, if any. We always need to plan for those dry months, which means planning about six months out. J’s income is like clockwork – predictably deposited twice a month.
Although we seem to be riding high this month, I expect there are times we will downshift and even reverse our thinking. Being steadfast without fluctuation is not us, nor probably anyone. Keeping focussed on the end goal is what will keep us moving forward, even if there are stumbles in the future, because financial freedom from debt is what we want.
Along with decreasing debt, this focusing on debt is also making us more focused in other areas of our lives – areas which we want to improve in our personal lives. Maybe I shouldn’t be surprised by this, but I am!