Use The Debt Reduction Mindset To Save For Future Purchases


Back when I was getting out of debt, I was the very definition of determined.  I worked hard, extremely hard, to stay on budget, earn extra money, and rapidly pay down my debts.

Once I paid off my debts, I remained determined, and worked hard to fully-fund my emergency fund.  I also worked hard to fund retirement and education savings accounts.  I was motivated, pumped about the progress I had made, and, like I said, determined.

After  couple of years of enjoying the debt-free life, things changed.  I lost a bit of my determination, and a bit of my focus.  I think that this is natural.  Once I reached my major goals, I took a breather, enjoyed some of the benefits of a little extra cash, and kinda relaxed.

Alas, it is now time to breakout ye olde debt reduction mindset and really focus on saving for future purchases.  Why?  Well, at some point, I’m going to need to buy not one, but two, newer automobiles.  We’re also going to need need some newer furniture for the house, and we have lots of plans for the landscaping of the yard.  In other words, there are some pretty big-time purchases that we need to make, in the not-so-distant future, and I need to prepare for them now.

The last thing I want to do is work as hard as I have worked to get out of debt – only to slip up and go right back into it.  I don’t want to simply be debt free – I want to remain debt free, forever.

Side note – Those who are familiar with this site might be asking – “NCN, haven’t you been working hard to remain debt free, already?”  The answer, frankly, is “yes and no”.  On the one hand, I have been saving some money for future purchases, and I’ve continued to live on a budget.  On the other hand, I’ve gotten a little sloppy, not really displaying, in my opinion, the proper degree of intensity.  That, my friends, changes – today.  Rock on.

3 thoughts on “Use The Debt Reduction Mindset To Save For Future Purchases

  1. Staying motivated, especially when you are consumer debt free, can get tough. I’m in the process of getting my emergency fund FULLY FUNDED. Of course this is going to take me awhile. My wife and I are also saving up for two major purchases, but we’re going to do it cash. We’ve been in and out of debt TWICE and we are NEVER going back.

    So if you’re looking for motivation and accountability, you need not look any further than your own blog, or maybe my blog too.

    Everything is a process, and the process you’re on is going to get you to financial freedom. That should be all the motivation you need!

    Take care,
    David Bibby

  2. Maintaining that “gazelle like intensity” is a little like thinking you’ll be in passionate, first blush love for your entire marriage. It’s impossible and likely unhealthy.

    I think that kind of determination should be employed when you need it. Use it for eliminating your debt and meeting your financial goals. Then relax. Don’t go back into debt but don’t be afraid to spend some money. It’s a means, not an end. Then, when you need to save for something, go into determined mode again.

    It’s not being sloppy to lighten your hand on the throttle, it’s just being human. Enjoy it.

  3. I’d like to offer some suggestions for landscaping inexpensively:
    Do you have family or neighbors that had bulbs blooming this past spring? If so, offer to thin them. This helps them because spring bulbs need to be thinned periodically, and it gives you some free bulbs. (The bulbs need to be planted immediately after digging. Check online to see how deep to plant them.)
    Watch for sales on perennials later in the fall at all the big box stores. Perennials are fantastic for several reasons: 1)they come back on their own every year so you don’t need to buy annually, 2)there’s less maintenance because you don’t have to re-plant annually, and 3)they multiply so after 3 or 4 years you can divide them and get more plants for free!! (It will be time to thin your spring bulbs too–more plants for free!!)
    You want your plants to live and thrive so learn as much as you can online or from library books about the perennials that grow best in your area. Also consider the amount of sunlight and moisture that reaches the areas in which you’ll be planting.
    Install a rain barrel or two. You need to keep those plants watered–it’s critical in the first year as they’re trying to get over the shock of being transplanted. The rain barrels will save on your water/sewer bill.

    Hope this helps!

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