Redesigning my life after the death of my husband almost 8 years ago has been a long progress, marked by the proverbial one step forward and two . . . or three or four . . . steps back. But once I finally had the vision of what I wanted (The Dream Defined), it was time to start making it a reality.
The Talbot's plan, as outlined in their book Dream, Save, Do, calls for specific steps completed in a specific order, but they also acknowledge that while that order made sense to and worked well for them, others in search of a different, better life might deviate as their situation and personality dictates.
With that in mind, I skipped ahead a few steps to "Save". I was eager to get started, to make tangible progress toward my goal. I also knew from reading the book completely through to get a lay of the land, that I could do the intervening steps at the same time as I was implementing steps to prepare financially.
I also did the mini-steps within the larger "save" step out of order, and that has worked well for me.
I already had a budget in place, and most months I stayed under or at budget in every category (housing, utilities, food, fun, etc). To be honest, though, my income at the time allowed me some latitude, and I knew there were ways I could cut my spending.
I pored over my budget, looking for ways I could cut back. Some items were easy to eliminate (so long Starbucks), and I haven't missed them at all. Others are a work in progress. For example, I have about a year left on my DirecTV contract and will be checking tomorrow to see what it would cost to get out of my current agreement and if there would be any long-term savings by doing that.
As a result of funneling the newly-freed up money elsewhere, I'm debt-free except for one credit card and my mortgage. My mortgage (including taxes and insurance) is less than the rent on even a much-smaller apartment in my area, plus I appreciate the deduction on my income taxes, so until I've found the RV I want and am able to live in it full-time, the mortgage isn't going anywhere.
One part of me is ecstatic about these changes. Another part of me is absolutely disgusted with myself for not doing this before now. I shudder to think of the money spent for things that didn't last materially and have no lasting value. But that's the past, and I'm determined to only look ahead.
While it may seem that I'll be living my dream life fairly soon, I made a ginormous life change that will in many ways make my life safer, more positive, and less mentally and physically stressful. In May, I resigned my job as of July 31. In mid-August, I will begin a new job . . . at about 22% less pay.
So my dream may be deferred a bit, BUT had I not made those budget and lifestyle changes when I did and unloaded debt, I wouldn't have been able to take this new job.
Perhaps once I'm settled into the new position and know better the amount of work I'll be taking home on a regular basis and how much time that will consume, I'll be able to think about getting some type of part-time job. But that's a thought for another day.
All of that -- reevaluating my budget, adjusting my spending, and applying freed-up funds to debt, has kept me busy for the past 7 or so months.
And I still haven't completed all the mini-tasks under the larger step of "saving"!
After months of employing my left-brain skills, I get to play around this week with some right-brain activities.
I hope you'll come back next Wednesday to see what the left side of my brain comes up with!