"We Are That Family" is hosting a special frugal edition of Works-for-me-Wednesday this week.
At first I didn't think I could contribute because
I've been spending to much time goofing off lately to write a post I've been rather busy lately, but they said we could submit an old post so I am going to do that today.
When the waistbands of our clothes start to feel a little tight we have a few choices: we can go up one size in our clothes in order to be more comfortable, we can be miserable and in pain as our waist expands but our waistband doesn't, we can buy clothes with elastic waistbands, we can ignore it and hope it will go away, we can choose to examine our eating habits and exercise habits and make some adjustments if we wish to stay in the current size clothing that we are wearing.
The numbers on the scale going up, the waistband being to tight or having to let your belt out a bit are sure signs that you may have put on a few unwanted pounds.
A similar thing can happen to our finances. Suddenly the number of bills start going up. We have to let our financial belt out a notch. We have packed on a few unwanted debts.
We can do several different things. We can go up one size, and be comfortable with the "new" size of our debt. We can choose to accept the new status of things and just continue spending as we always have. The danger with that is debt is likely to keep on growing as we are "comfortable" with it. Plus, we're not actively trying to reduce our debt.
We can be miserable and in pain as our debts continue to grow but our salary doesn't. We can feel overwhelmed, helpless and out of control as our financial belt continues to expand.
We can get yet another credit card in order to enable us to keep on spending. But, like an elastic waistband, it doesn't hide the problem. It only makes you more comfortable but only for a time. You still have to pay for it in the end.
We can ignore our debt and hope it will go away. To my knowledge, that has never worked for anyone.
I have read that one way of maintaining a weight-loss is to weigh yourself a few times a week. As long as your weight gain is between 3-5 pounds it's supposed to be o.k. (some books actually limit it to 1 1/2 - 3 pounds). But after a five pound gain it is suggested that you might want to get more strict with your eating habits and cut back, while keeping up (or stepping up) your exercise habits if you don't want to gain the weight back.
I imagine the idea here is that it is alot easier to lose five pounds than 15 pounds, or 50 pounds. It's alot easier to lose less than more.
It's alot easier to pay off a little debt than alot of debt. It's alot easier to pay off $5.00 than $50.00, or $500.00. Or $5,000.00.
This just leads me to some thoughts. How much is to much? When do you begin to tighten your financial belt? When do you begin to say "enough is enough" and it's time to go on a financial diet?
My husband and I are blessed to have no credit card debt anymore. I am not bragging. We have had our share, believe me. But we have tried very hard to not get back into debt once they were paid off. But we do have a home mortgage that needs to be paid off.
We do have a roof that needs replacing. We have some bathroom repairs that need to be made. We'd like to put some more money in savings. We have one son in college and another one who will be there in a couple of more years.
I feel my debt waistband getting a little tighter as I think of things that need doing around here. And these next several months we are going to be tightening our financial belts and prayerfully going on a "diet" in order to be able to address these needs. Anybody else feeling the need to take a new look at their finances? Anybody else feeling the need for a "diet?"
If you want to see part two of this "diet," the Plan, please go here.
Also please go here for lots of great frugal ideas for Works-for-Me-Wednesday!