I've always wanted to talk about finances here, but have been way too scared to do so. Why is money such a taboo subject? Why do we cast judgement on so many aspects of it. We judge people because they have too much, pity people who (appear) to have too little. I have been ever so slowly trying to crack this egg. I am at such a weird place in my money life that I really want to open up and learn from you guys.
As you know, my family and I have moved to Michigan. One of the factors in moving was and is the cost of living. However, I had a good salary in New York. I am facing the possibility of a very significant pay cut here. I know finding a job that pays a New York salary would be next to impossible, but I also want to make what a professional with 12 years of experience is worth. Navigating the waters of what to ask for, what we need to live a comfortable life and how to save to invest in my business, have another baby, buy a house and contribute to retirement is a rough sea.
Truth about our situation: I am currently unemployed, but am still in wedding season, so I do have a little coming in. Luckily my husband kept his remote job, so we have a single income. My husband is a contractor, so we had to purchase an insurance policy from the open market (not cheap!) and we are paying a good bit of cash to keep our stuff in storage. But, we are living rent-free with my in-laws and share a car. It sounds like a recipe to stock-pile some cash, but alas, somehow that's not really happening.
I want to talk for a minute about our wins and about the concept of manifesting money. It sounds so woo-woo. I feel like a fraud saying it, but after I read (and reread and reread) "You Are A Badass At Making Money," I decided to test this concept out. In it author Jen Sincero tells a story about manifesting $80k to pay for a coach to kick her butt into gear and to help her get the results she truly desired. $80k! That's more than most people make in a year!!! After the third read of the book, I decided that I was going to manifest $100 a day to put toward my accumulating credit card debt, which at the time was about $12k. *Look at that, I told you my credit card debt number and I haven't burst into flames!!!* I know that $100/day seems crazy. I thought so too, but if Jen SIncero could manifest $80k, I could make a little magic of my own. So in mid-March, I started, with the goal of paying it off by the end of June.
- I had already been paying about $500 - $600 a month, I upped $700 and that was a week out of the month marked off my calendar.
- I do some freelance blogging that covered another 2 - 3 days
- I got a bonus at work during that time, an other week or so worth of payments
- I styled a shoot to earn $500
- Since we were moving, I sold some things on Craigslist
- Cleaned out my closet and sold items on Poshmark
- I used cash from the sale of our house to pay a chunk
- Right after we moved I was employed and living with our in-laws allowing me to contribute a larger chunk to this "bad debt"
I got there! or more truthfully, I practically got there, with about $600 still left on the card. I am so so proud of myself and it has left me wondering what else I can ask the universe for and work toward manifesting. I know my situation and life change helped me get to my goal, and not everybody is going to have the same experience, but the truth is I set out to eliminate this debt and I think I would have gotten there with or without the life change, because I was 100% focused and committed. Before we even saw the money from our house sale I had paid over $4k toward the debt.
Next up, I am planning a month-long spending freeze in order to achieve our goals for the down payment on our new home. I am laying out my parameters here and will document my progress on my instagram stories.
- It's our anniversary on September 8, we plan to do something special to celebrate.
- I will allow myself to only purchase the amount of coffee on my Starbucks card
- networking lunch or drinks are okay, but I will keep it economical
Have you done a spending freeze? How did it go?