The other day, I happened across a blog that talked about how a family of 6 can live on less than $28,000 per year.
If they can do it, so can I, right?
So I read the whole dang thing. And picked up as many suggestions as I could. A lot of them were very helpful and I will likely talk about them later.
One thing that really struck home was the introduction to my future self.
The thought behind this is, that by "meeting" your future self, you will be less likely to "steal" from him or her.
What do I mean by this? Well, every time you put something on credit, you are making your future self pay for you to have things now. Who is to say that your future self is going to WANT that random bauble? By the time you pay for that fancy dinner, it's long been digested. By the time you pay for that vacation, you've lost all the pictures.
I'm not saying that I'm giving up on vacations and dinners, I'm saying that it's better to save up and have them later for cash than to have them now and pay more for them due to using credit. Credit is expensive.
I learned that I am suffering now for the pleasures of me in the past. And I don't want this trend to continue to the suffering of my future self. I want her to have money in the bank. I want her to not have to sweat a trip to Costco to replenish the things I buy in bulk. Or heading over to JC Penny for some new work clothes because I've been exercising so that she can be skinnier.
So even though I have used my MasterCard in the last couple of weeks, its with the understanding that those purchases are going to cost me later. Of the four purchases I have made, 2 of them have already been repaid, one I am waiting for reimbursement from my insurance company, and the third, well, that one is going to be hanging out for awhile.
If a family of 6 can live on $28,000 per year (or less), I can live on that (or more) and still reach my financial goals. I'm glad I already started.