You can have it all, just not all at once
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It was about 5 years years ago, and I was a single gal living in the city. I had $8 left on my credit card to buy groceries to last the week, until I got paid on Friday; I had no food and no money. That was my low point, and I was finally ready to make a commitment, got my hands on Debt Free Forever, and it literally changed my life.
I started out with a $22k line of credit, plus the money I owed on my credit cards. I had that line of credit turned into a personal loan, so I couldn’t keep drawing money on it. I consolidated the credit cards, closed the accounts, and kept just one card, with a much lower limit. I lived on cash, spent only what I could, and made a lot of changes. No cellphone, cheapest internet available, no cable, no getting my hair coloured, no new clothes, very minimal spending on dinners and drinks, I started biking to work every day to avoid buying a bus pass. I also shared what I was doing with my friends and family, so they could support me and understand when I didn’t participate in events etc.
The exciting news is, I currently have $17k savings in the bank. I am waiting for that moment when I will have $22k saved — the exact amount that one time I owed!
Over the years I have started an RRSP, TFSA, emergency fund, planned spending accounts — allowing me to save for the future, while still paying cash for a trip, a computer, a fancy new bike — it’s true that you can have it all, just not all at once! I am able to better prioritize what is important in my life, and how money plays a role in those decisions. I want to thank you from the bottom of my heart Gail, and am sending you an e-hug.