Money Ain't My Higher Power
I watch in person and on the web, people struggling with finances. So many think that money will solve all their problems. I know I did. I believed that if I had just that little extra money I could turn the corner and get everything back on the right path. I thought this for five years as I kept sinking further and further into debt.
I had three choices to make. One was bankruptcy, being roughly $60,000 in the hole I could justify it. The second was to get a second job. I tried this in the past and for me it didn’t work either. The third was cutting down some expenses and cutting out entirely on others.
I chose the third option. First thing I had to do was deal with my home. $560 a month payments were swallowing me… while it could be done and was done for over five years… there was no room for any emergency or mishap. So when my now ex-wife got ill with cancer we got into trouble. And every month it got worse.
So we walked away from our home… before foreclosure, we told the bank the house was theirs and we left. I won’t get into details but when we left our house it was also the official ending of our marriage. I moved into a small apartment. I went from $560 a month payment to $260 a month… a savings of $300 a month.
I moved within two blocks of my job and started walking to work. I gave my ex-wife our new car and I kept our work vehicle for myself – an ’85 Olds. Previously, I lived 25 miles from my job, so during a work week I drove 250 miles. The car got 25 miles to the gallon so I saved 10 gallons of gas a week… I’ll figure $3.50 a gallon… so I was saving $35 a week or roughly $140 a month. And since I am walking everywhere, I got the bare minimum with insurance saving me $20 a month.
I enjoy my time on the internet and I wasn’t ready to part with that… but I also began to see that I could watch all the TV and movies and sports on the internet for free. So I hooked my TV up to an antenna for local channels and watch all the rest of my TV on the internet. By cutting the cord with cable I saved $50 a month. And staying with electronics, I got rid of my house phone and just use my cell phone… a savings of $30 a month.
Living in an apartment, I use the laundromat to wash my clothes. This cost me $6 a week… until just recently. I decided to get a clothes rack for my apartment and let my clothes dry on them. The cost was $30. By using the clothes rack, I’m saving $12 a month… so in two and a half months the rack will pay for itself.
Other little savings I have tapped into are my newspapers. I used to buy two everyday, along with a morning roll before work. This is a savings of $9.60 a week or over $35 a month.
Then my own personal health. I quit a nasty habit - smoking on April 1, 2010. A savings of $10 a week or over $40 a month.
In the course of the year I have saved $7,500. And I’m still trying to figure more ways to cut down on expenses. So where did the money go? With one salary I have paid two large past due medical bills and one dental bill. A credit card that I was four months behind on is now current and just $86 remain on the balance. A store credit card paid in full. ONE credit card remains to be paid and all my debt will be gone. Yes, I lost my house… but you know what? That house was a chain around my neck with its upkeep. Keeping the lawnmower in working order, car maintenance, appliances… it was a money pit.
Then as a reward for myself, I ended 2010 by spending Christmas and New Years in England. I paid cash for it and when I returned… I didn’t owe one penny on it.
What I have learned is that, for me, I made money my god and equated it to my happiness. I fell into the trap that I was entitled to all these things that we think are necessary for our life and I was so wrong. Freedom for me came with owning and owing less.
My life, right now is 100% cash only. If I have the cash and I truly need something then I will get it. If I don’t have the cash? FORGET IT. By having so little, my “wants” are all but gone and I have never been happier.
What is truly amazing about all of this is that recently I agreed to speak at an AA function that is over 600 miles away. No way would my old car make it there. So I thought I would have to cancel it after I looked at renting a car and saw that a credit card was needed to secure a rental car. Well, I applied for a new one thinking no way I could get one… but guess what? My credit went from so super bad to being acceptable and I got a card. So my trip will take place. I’ll pay cash for the car, but I have the credit card to secure it.
All because I quit valuing money as my Higher Power. Next, in this change of life routine is getting to the point of getting down to owning under 100 possessions. It is a group that owns 100 things or less... some of the groups are quite radicals... like shoes would count as two possessions... I won't go that hard but I will continue to "cut down and cut out."
I had three choices to make. One was bankruptcy, being roughly $60,000 in the hole I could justify it. The second was to get a second job. I tried this in the past and for me it didn’t work either. The third was cutting down some expenses and cutting out entirely on others.
I chose the third option. First thing I had to do was deal with my home. $560 a month payments were swallowing me… while it could be done and was done for over five years… there was no room for any emergency or mishap. So when my now ex-wife got ill with cancer we got into trouble. And every month it got worse.
So we walked away from our home… before foreclosure, we told the bank the house was theirs and we left. I won’t get into details but when we left our house it was also the official ending of our marriage. I moved into a small apartment. I went from $560 a month payment to $260 a month… a savings of $300 a month.
I moved within two blocks of my job and started walking to work. I gave my ex-wife our new car and I kept our work vehicle for myself – an ’85 Olds. Previously, I lived 25 miles from my job, so during a work week I drove 250 miles. The car got 25 miles to the gallon so I saved 10 gallons of gas a week… I’ll figure $3.50 a gallon… so I was saving $35 a week or roughly $140 a month. And since I am walking everywhere, I got the bare minimum with insurance saving me $20 a month.
I enjoy my time on the internet and I wasn’t ready to part with that… but I also began to see that I could watch all the TV and movies and sports on the internet for free. So I hooked my TV up to an antenna for local channels and watch all the rest of my TV on the internet. By cutting the cord with cable I saved $50 a month. And staying with electronics, I got rid of my house phone and just use my cell phone… a savings of $30 a month.
Living in an apartment, I use the laundromat to wash my clothes. This cost me $6 a week… until just recently. I decided to get a clothes rack for my apartment and let my clothes dry on them. The cost was $30. By using the clothes rack, I’m saving $12 a month… so in two and a half months the rack will pay for itself.
Other little savings I have tapped into are my newspapers. I used to buy two everyday, along with a morning roll before work. This is a savings of $9.60 a week or over $35 a month.
Then my own personal health. I quit a nasty habit - smoking on April 1, 2010. A savings of $10 a week or over $40 a month.
In the course of the year I have saved $7,500. And I’m still trying to figure more ways to cut down on expenses. So where did the money go? With one salary I have paid two large past due medical bills and one dental bill. A credit card that I was four months behind on is now current and just $86 remain on the balance. A store credit card paid in full. ONE credit card remains to be paid and all my debt will be gone. Yes, I lost my house… but you know what? That house was a chain around my neck with its upkeep. Keeping the lawnmower in working order, car maintenance, appliances… it was a money pit.
Then as a reward for myself, I ended 2010 by spending Christmas and New Years in England. I paid cash for it and when I returned… I didn’t owe one penny on it.
What I have learned is that, for me, I made money my god and equated it to my happiness. I fell into the trap that I was entitled to all these things that we think are necessary for our life and I was so wrong. Freedom for me came with owning and owing less.
My life, right now is 100% cash only. If I have the cash and I truly need something then I will get it. If I don’t have the cash? FORGET IT. By having so little, my “wants” are all but gone and I have never been happier.
What is truly amazing about all of this is that recently I agreed to speak at an AA function that is over 600 miles away. No way would my old car make it there. So I thought I would have to cancel it after I looked at renting a car and saw that a credit card was needed to secure a rental car. Well, I applied for a new one thinking no way I could get one… but guess what? My credit went from so super bad to being acceptable and I got a card. So my trip will take place. I’ll pay cash for the car, but I have the credit card to secure it.
All because I quit valuing money as my Higher Power. Next, in this change of life routine is getting to the point of getting down to owning under 100 possessions. It is a group that owns 100 things or less... some of the groups are quite radicals... like shoes would count as two possessions... I won't go that hard but I will continue to "cut down and cut out."
Replies
Good deal...it is omportant
that was typo done at work on iphone....I meant to complete the thought however I had to go driving for work at the same moment I was typoing....LOL
It is important to keep track of the numbers of dollars in and out...I use quickbooks for all my money transactions...since I run a business of self employment it comes in handy...I got it for free as a gift from Intuit the makers of quickbooks for allowing their company to handle my charge cards payments....when I started the business I took charge cards for the 90 trial period...that got me free quickbooks program...Nice...
I live by keeping my numbers...I used to bounce check after check after check....no more...now I would say it might have been a year since I bounced any checks....
I joined DA...(debtors anonymous) but no longer participate there now...but learned all kinds of lessons to use to help me with money issues....good job messenger
Hello, I came to your page after reading a reply you had written in the Financial Challanges Group. I am so glad I was led here. I absolutely LOVE this journal entry, LOVE IT, it was exactly what I needed to read, and absorb right now. Thank you for sharing this bit of wisdom. I remember a time in my life when I had much less, BUT was much happier. Good Luck to you.