In the Beginning
A journey of a thousand miles began with a single step. Attributed to Lao-tzu (c 604-c 531 bc), founder of Taoism.
I suppose that like most people who come to this site I'm fed up with being in debt and for allowing myself to rationalise all the seemingly good reasons for running up credit card debt.
I've been complicit in being in debt and it's not just the banks and the advertisers. It's my fault and as soon as that was accepted the better I've felt. It puts me in control and that feels good.
Don't get me wrong. I'm not in over my head but I feel that I've wasted a lot of my income servicing debt and interest that could have been put in savings to cover that rainy day that comes to all of us. And you know that when I think about the rubbish that I've bought over the years in response to some advert or get rich quick scheme I shudder and wonder what state my finances would be in if I had been a bit more prudent.
Did I really need a new computer? Is a new car every two years a good use of money? The latest in satellite TV worth the money not to mention the time to watch those repeats of I Love Lucy? Are those expensive convenience meals all that convenient? How many pairs of shoes can I wear at a time? And on and on goes the list of questions that I asked myself and the answers were very revealing.
I've consumed a lot more than I've ever needed and it's not really brought me joy, only debt. I keep that expensive pen in its original box in case I lose it or break it or have it stolen. Or the shirt I keep good for the special occasion that never happens. Or I gain or lose weight and it never fits. Not at all what I had intended.
And what about all those wonderful gadgets that fill my kitchen drawers or cupboards. The slicers, dicers, juicers, grinders, microwave gizmos, food processors, bread-makers, rice cookers, and on and on.
My garage is cluttered with wonder tools galore and my bedroom is hiding my abandoned keep-fit equipment. And my loft; you know what's up there. Not only have I wasted money on buying such things, I pay for insurance to cover their possible loss. How mad is that?
Now I'm not intending to go all monastic and to take vows of poverty and abstinence. I want to bring back some sanity to my life and put me in control.
As a first step to achieving those goals I've opened an online savings bank account to hold my emergency fund and to allow me to pay myself first.
I've taken my first step in a journey that will hopefully end in a debt free me.
