... about a financial diet: What started the whole topic of becoming debt free in approximately twenty-one months ... there's a possibility that his job will be absorbed by a larger city entity (in 2012) and he'd have to be retrained as a police officer all over again. His current gig is just a filler job since his official retirement from another dept. two years ago after a twenty-plus year career. Our original goal was to be mortgage free in four years and he'd retire once again with another small pension. But this is probably not going to happen. We have a monthly pension ... plus his 'gravy' job. Now at the age of fifty-nine, he's just not going to go through anymore field or physical training to be 'absorbed' in a bigger city's PD. With that said ... a financial diet will be in order. We can live comfortably on his pension ... even with a mortgage payment ... but how much the better would it be to be financially free. Scrimp and save for the next year and a half ... to be rid of any debt. Now with that said and 'out there' ... he and I will be working out a strategy to remain financially sound AND debt free. He actually brought up the subject of a budget when he got home from work last night. Here are a few steps we will make this week:
- pray about our situation
- discuss what expenses will be 'cut out' with our adult kids
- write out a monthly budget (clean start each month)
- use cash or debit card for purchases
- use our old envelope system for cash purchases
- review what household expenses will be axed
Stay tuned for a monthly progress report.
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