Healthy habits are a great thing until they get out of control. Learn about my unhealthy obsession with my debt snowball.
I recently, thankfully, went back to work full-time. My working full time is a great thing mentally and financially for our family. I painstakingly and repeatedly analyzed our financial situation and developed our own personal debt snowball. I can look at this beautiful Excel sheet and see the exact month and year that we will be debt free. Imagine!
Therein is the problem. Knowing that date, my type-A self wants it to be faster. So, because I have developed the ability to tactfully say “you need to get a job” by phrasing it as “you need to find more ways to bring money into your home”, that phrase has become my obsession. I want to bring money into our home (increase our income) so we can pay that debt down sooner.
Ways to bring money into your home, in truth, don’t actually have to increase income, they just need to make better use of the dollars you have. They could include more money, but using coupons more, comparison shopping, breaking bad money habits would all apply.
When it comes to coupons, I have a love hate relationship with them. I love having one I can use, but hate digging through newspapers and websites to find them. I also don’t have many options for grocery shopping within about 15 miles. Am I wrong to think that driving 30 minutes plus for groceries probably negates any money I’d save? I use rebates when I can, those are easy. But, in general I find coupons a pain in the ass. I also try to avoid the over-processed, pre-packaged, nutritionally vacant foods that most coupons are for.
So what is the answer? Do I divert my thoughts from the debt snowball by having a little fun and enjoying life – maybe pushing back that debt snowball debt free date in the process? Or do I seek sources of more passive income. I mean a second job would be horrible for the family and family time. Something flexible? Consulting? Freelance? MLM Sales? (Then find a company that my values align with or that I actually like the products for which isn’t hard but… is that me?)
If I challenged you to increase your income 20%, which would you choose?