Living within your means – stillness

It’s been a quiet week all around for me, I’ve been working a lot of hours but other than that… not much going on especially financially.

[outdated url removed February 25, 2014]

When I was still in high school my dad taught me how to use online banking and I’ve been keeping iron-grip-tabs on my bank account at least once a week ever since. When I started going into debt and subsequently began to recover from going into debt I was checking my bank and credit accounts every single day. I had to keep the balls in the air to make sure nothing bounced and nothing was charged that shouldn’t have been. It wasn’t easy but I’m a bit of a control freak so I do admit I didn’t mind it all that much. However, I never realized how stressful this really was for me until this month.

I began my becoming debt-free journey in August of 2009. It’s almost one full year ago that I saved up my first $1000 ever in April 2010. Unfortunately I had to use every last penny of that to pay for my 4 wisdom teeth extractions. Had I not had the emergency fund built up, I would have had to use my credit-card, borrow from bank or family to be able to pay for the surgery.

Obviously a lot has happened since last year.  I finally paid off my credit card debt in June 2010 and I’ve started to make extra payments on my mortgage and my student loan as of September 2010.  I’ve saved up another mini-emergency fund and as of just last month for the second time have gathered a minimum of $1000 designated for emergencies. I’m more liquid today than I have been since the summer of 2005 after I paid off my first college loan.

Fall 2005 – August 2009 was a time period full of stress, sometimes more and sometimes less. (I didn’t mean that to rime, by the way.) Over the past three months I have also slowly started to work myself out of the pay-cheque-to-pay-cheque cycle. I’m proud to admit I haven’t taken a cash advance on my cheque in a full month! I’m part owner of the company so usually I get a cheque or cash every week. When I received my last pay I suddenly noticed it was a full cheque and only then realized that I’d gone the whole pay period not needing an advance. The past two weeks again have been quiet, I’ve paid my bills, kept tabs on my accounts but since I switched to having cash on hand for blow money… there hasn’t been anything to keep tabs on.

I will be paid again in a few days and it’s only now that there’s some new activity for me to look at (and input to my budgeting program) and I’m realizing how nice it is… the quiet of it all. Nothing to worry about, no balance to maintain, no bills due with no way to pay. This is nice. Can you imagine how it will feel to be completely debt-free? 

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11 Comments

  1. I can't wait for the point where we are debt free. Sounds like you are doing really well. It is nice to hear about people who are making great strides.

  2. Its great to see you making such progress – The road is long, but so worth it.

  3. Its great to see you making such progress – The road is long, but so worth it.

  4. You're making great progress and it's great that you're over paying your mortgage so early 🙂

  5. You’re making great progress and it’s great that you’re over paying your mortgage so early 🙂

  6. Thanks everyone 🙂

  7. Thanks everyone 🙂

  8. Yay for finally not living paycheck to paycheck and need a cash advance. You're coming so far!

  9. Yay for finally not living paycheck to paycheck and need a cash advance. You’re coming so far!

  10. Slam dunkin like Shaquille O’Neal, if he wrote infomartive articles.

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