How Much Is Enough?
I am at a point in my quest to be debt free where I do not know; how much is enough? I do not have cable, I am on the lowest tier of internet (for "high speed"), and I do not spend alot of money 'having fun'.
Why then, do I feel like I am not doing enough to get rid of my debt load?
To demonstrate. After paying the essentials (rent, food, electric, minimum payments), let's say I have $500 a month. At first, I spent $400 of that on paying down bills, and spent $100 'having a life'. Well, turns out, that was not good enough! Every time I spent money I was adding on interest and lifetime value of that money.
That made that bottle of soda look quite expensive!
Is 80% of 'spare change' not good enough?
I cut it down to $50. Now, that is 90% of my money that is going to paying off debts. Yes, the debt goes away faster, but is that any way to live? I feel guilty anytime I grab a RedBox movie!
That dollar should not make me feel the way it does.
I hear people ask all the time, 'how do you get motivated enough to pay off all of that debt'. What I need answered is, 'How do you get motivated enough to buy that extra bit of fun in your life?'
So, I ask, how much is enough to get over feeling guilty?
Comments
