Today’s post come from Brandy at Busted Budget. Please show her some love. Enjoy!!
Getting out of debt, for most, is not easy. While others may have gone to extremes to dig themselves out a giant hole of debt, I admit that I’ve gone about this in a more conservative fashion.
Don’t get me wrong, there is nothing wrong with making big sacrifices to get out of debt faster. In fact, I really admire those people. Those people aren’t afraid to take risks.
And then you have people like me. The ones who prefer to play on the safe side of the field. I contribute this to the fact that I will be on this journey for years. Not weeks. Not months. Years.
When I find myself in a situation where I may have to make certain sacrifices for a potentially long time, I want to have a plan. I want to feel secure in my life, my work, and my financial state.
For these reasons, there are some things I haven’t been willing to do while I’m trying to get out of debt.
I haven’t sold my car.
As a personal finance blogger, I’m well aware that selling a car with a loan attached to it is one of the easiest ways to unload debt. However, even though I still owed the majority of my car loan when I started this journey, I had no intention of ridding myself of my car. I love my car. It’s my only form of transportation and it’s reliable. Although I was not willing to part with my car, I acknowledged that it still represents debt and have appropriately worked it into my debt snowball. I expect that my car loan will be paid off by mid-2015.
I haven’t worked at a fast food restaurant.
Look, I am not knocking fast food work by any means. In fact, it slightly intimidates me! I’ve had a second job for as long as I can remember. I am the retail queen. Whenever I am in the market for another side hustle, my first instinct is to look at the mall or at stores I frequent and am comfortable with. I’ve never even applied for a job at a restaurant. To me, it’s always appeared to be a high stress and underappreciated area of work. Ideally, that is not something I’m looking for in a second job. Kudos to those who work in this industry.
I didn’t freeze my “personal” products.
This is by far the weirdest opportunity I’ve been approached with as a means to make a few extra bucks. A few months ago, I registered with one of those research agencies in hopes that I would qualify for a few studies. It appeared to be an easy way to make some extra money for a few hours of participation. However, I was recently contacted by the agency with an interesting study. (I’ll give you a TMI warning now) To put it bluntly, they wanted me to use certain feminine products during my cycle, freeze them, and turn them in to the agency at the end of the week. My husband was appalled and I just couldn’t get past the idea of having these used items in my freezer next to the frozen chicken and pizza. Ew! The pay of $60 was not worth the mental anguish it would cause.
I haven’t stopped shopping.
Yes, I am trying to pay off debt. And yes, I love to shop. One of these things is not like the other! While I am trying to lighten the financial load, I also refuse to cut out having fun during this process. I know myself and I know that if I restrict myself too much, I will lose momentum and binge. To avoid a catastrophe, I stick to a small cash budget for shopping or other personal purchases. It’s been working well, and I no longer feel the urge to shop ‘til I drop.
Are there things you aren’t willing to do to get out of debt faster?