I’m having a conversation with my girlfriend earlier this week and we got to talking about eliminating all debts so that our credit card company owes us. We want to get to the point where we have over paid on our credit card so that we can make purchases online and not worry about repayment. So in essence, our credit card will only be for online needed purchases.
Our next goal is to purchase a car, cash. We’ve thought about taking out a loan and making monthly payments for the next 5 years but I know myself and somewhere in that time frame I’ll get bored and stop paying. Yes, bored. I’ll find some other thing to tickle my fancy and place my energy and money in attaining that. Hence, cash purchase. It has to be a new car. Our flatulence should be the first in that vehicle other than the manufacturers and dealers.
How do we attempt to accomplish these tasks? The first plan is to emulate the process a couple in the USA followed to ensure themselves debt free in one year. We have modified their process to fit our own. Firstly, we are not moving in with my parents or her family. Out of the question. I’ve prayed too hard to stay on my own to go back. The couple purchased 10 items from the grocers religiously for meal for 1 year. They also shared a car; this was easy because their shifts allowed this. We don’t own a vehicle so that leaves us with one process to follow.
Since that can’t be the only way to save we decided to also do the following. We’ve already started to unplug everything when leaving the house except the refrigerator, so we’ll also do this in the night and include the refrigerator as well. As a matter of fact she wants to turn the breaker off; I like light during bathroom calls it tells me I’m not still in bed wetting myself (for those of us who remembers those dreams).
To ensure we aren’t going to fail at this, we have 2 fail-safes. One, we will treat ourselves once a week to anything within a price range set by us. It could be a slice of chocolate cake, a piece of chicken or ice cream. Also, we will only do this for one month starting November 9 to December 9, 2013 (we chose this date because our electric meter is read on this date). We said one month so we can tweak it and then start again in January 2014 for that entire year.
To recap below is what we will be doing for one month:
- Purchase a minimal amount of food. No fast food purchase.
- Unplug all appliances, turn off all lights when leaving the house for the day except the refrigerator (turn breaker on).
- Since the refrigerator will have minimal food, we’ll also turn both sections of the refrigerator to minimum.
- Minimize the use of the internet = less electricity usage.
- Turn breaker off at nights (maybe).
- We spend J$1,110.00 (US$11) per month on bottled water, how to eliminate this is still up in the air. I will investigate the cost of a proper water filter for the faucet. Portmore tap water tastes horrible even when boiled.
- We will still use the washing machine. We usually only wash 4 – 5 loads every 3 – 4 weeks anyway. We will however not use the dryer for all loads, only the darks to eliminate all the lint.
- We’ll be bathing from a bucket and brushing our teeth with a cup of water. We don’t usually flush when only urine is in the toilet. We’ll continue to do this.
The goal of the exercise above is as follows:
- Lower the amount payable for electricity.
- Lower the cost payable for water usage all round.
- See our savings after all regular recurring bills have been paid.
This should be doable, right?
I will also be attempting training to run 5k’s next year Sigma. I did say run. Go on laugh I’ll wait for you to gather yourself. I feel the vibes to run. I think I’m missing out on a lot by not running. Let’s see how that goes. Maybe I’ll do some video clips on my progress. Maybe.
Wish me well and motivation to see this through 🙂