Ok, so I said in my last post how we were gonna spend it, but really, the reality is that I want a concrete plan. Money has a way of just evaporating when there is no plan.
Our plans:
Emergency Fund
Pay-off some small misc. bills
Money for some repair work on our vehicles
$ for my business
now it gets scary...we will have a bit left, should I pay one more bill, or should we do a house project that we both want done really bad??
This project will make our life better, we will use it everyday, it will increase our property value, BUT, we don't NEED it, we could life without it, we have done so for the last 10+ years we have lived here. But we really want to do it!!! After we do all the above, should we get something we want, or should we plug away at the debt????
I am looking for words of wisdom, since I am really trying hard to stay on track, even though I have had some grocery store relapses this last week, but that is for another post...
What should we do?????????
It all depends on how you are feeling on what to do with that extra money.
ReplyDeleteAre you feeling debt reduction/frugal fatigue?....at the end of your rope due to not taking any breaks to do small FUN things or pay for small Wants with your extra cash?
If so, I'd say use it on the house project or just blow a tiny piece of the money if you've made good progress on the debt over the long haul.
Ask yourself, "If I use this money on something that isn't a true need or paying down debt, will I feel good about my life when I get up the following morning? or will I regret that I didn't use it on debt?".
Looking at your timeline of having a handle on your finances before 50, will this one time significantly change, lengthen or affect my journey?
It's in your hands.
Do what makes you happy. 8-)
For me I think I would take a step away and look at it in the form of "value" which of the two options would give you the most value where you to use the money on it? Value is based on your personal journey and what you are trying to accomplish in the long term sense.
ReplyDeleteWhich choice would you feel the best about emotionally? Paying down debt or adding value to your home while making it much more convenient?
Either way sounds like either choice would not be a bad decision so choose the one you think would bring the most joy to you!
Thanks slugmama & Carrie! Both good points, so glad it takes a bit to get the money so we can decide what is the most important. Today we talked about a project for my business, everyday is something different to spend it on. We will have it ironed out pretty soon, glad my honey and I can talk about it without stress or arguing! Just need to go through the pros and cons for everything.
ReplyDeleteDo the project, you are in debt is taking all my fun mode. Trying to get out of debt is like a salmon swimming up stream to spawn. You jump the water fall and slide back and it it tiring and boring and exhausting. Give yourself a treat but don't stop the swimming.
ReplyDelete