We have been struggling with what to do to get ourselves into a better financial situation without sacrificing the changes for the better that we have made in our family life. So, we came to the decision last night to try our best to save money and pay off our credit cards and other unnecessary bills. Which means, no Disney Annual Passes this year. :(
I'm going to miss my favorite mouse and all the fun he offers! But, hopefully, it will help us and be worth it. With the housing market the way it is, we can't even sell our house and buy a cheaper one because we would have to do a short sale. It's very difficult to turn around and buy another house when you have a short sale on your credit.
So, I am looking forward to paying off the credit cards and being a little more financially comfortable at the end of each month. Even if it means saying M-I-C (See ya real soon) K-E-Y (Why? Because I love you!) M-O-U-S-E! Hope to see you next year! :)
I highly recommend the book "Rich Dad, Poor Dad". There is another book called "Seed Money" but it is VERY hard to find.
ReplyDeleteSome key points....
To get out of a hole, first thing STOP DIGGING. It looks like you are doing that. Second, pay your self FIRST. In other words set aside a jar or an account that you pay into every payday. This jar or account is priority ONE. Use this money ONLY to buy assets. Never use it to pay bills or buy liabilities. Assets are things like stock or items that can be sold for more money than what you paid. All money then goes back into this jar or account. The idea is to build the money in this account to a point that you can then live off the interest. It takes discipline which means I know you can do it. Read the book for a more detailed description of how to easily build wealth. I paid for my visit with you last summer by buying scooters off craigslist and then selling them for more money.
Thanks! That is a really good idea...to create an account that is only used to make money!!
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