And It Aint An Oncoming Train

It can be very difficult to stay the course of becoming debt free. For the past few months, I confess that it has been tough. For example, for a few weeks I didn’t reconcile my budget, I am behind in reconciling my checking account statements and I made some impulse purchases. However, yesterday I got a letter in the mail confirming that a bill (a mid sized bill) was paid off and I owed no more. I should be very excited. Yet, I admit I am daunted. I compare my debt to my goal of paying all debt off this year and WHEW there is leap of faith required. I have ideas on how to eliminate my debt but I haven’t been working my ideas. I let obstacles and little inconveniences get in my way.

Today I had to remind myself of the goal and the plan. I acknowledge that reminding myself and affirming my goal has to be a daily exercise until I achieve the goal. So what is the goal? My Goal: The be financially independent. This means first and for most to have no debt. Secondly, it means having a savings and retirement accounts. Finally it means has other sources of income besides a job or business. How do I become financially independent? Below is my game plan:

1. Take an honest look at my finances and make corrections, one at a time.
2. Determine what financial independence looks like to me (how much in savings and retirement accounts).
3. Get a clear understanding of my debt.
4. Get financial house in order.
5. Create and stick to a budget for every paycheck.
6. Get rid of debt.
7. Fund savings and retirements accounts.
8. Buy a home.
9. Figure out how to have an income with out a job.

After I reminded myself I tackled a project that I have been putting off for months. Honestly, this has been an ongoing project that ebbs and flows for years. This week and into the morning light, I inputted receipts in my accounting software and filled them away. FINALLY my desk is clear and I am done with project ONCE AND FOR ALL. Now I can run reports with some certainty. Now I can see what is really going on with my money. Now I can train myself to make my money behave. Tonight I shall sleep well because I made progress, I am keeping my word to myself (even if it took years), I decluttered my desk and most importantly my financial house is just about in order (Step 4 just about completed).

If you are having challenges sticking to your plan please share and together we can over come. Otherwise please share your comments. It is a few days before July, halfway through the year, and we can become debt free this year no matter the amount we owe.

WANT TO USE THIS IN YOUR BLOG, E-ZINE OR WEBSITE? You can, as long as you include this complete tag with it: Lorne S. Wellington has a BA and MBA. She has been consulting and advising businesses and nonprofit organizations for over 12 years. In addition, she created a nonprofit in 1997 and today she owns Sculpted Silhouette, a lingerie boutique in Los Angeles. Her clients are located in the USA, Italy and South Africa. She has worked with a food manufacturing company, several retailers, an international aid organization, a bed and breakfast and a multi media company.