Posted on 09/27/2016 10:13:41 PM PDT by aquila48
The way Cait Flanders got her financial house in order should probably come with a “Try this at your own risk” warning.
First, the Canadian blogger paid off $30,000 in student and credit card debt. A year later, Flanders threw out 75% of her belongings and put herself on a strict two-year shopping ban.
Since then, she’s learned a lot about money, budgeting, and why we spend — she even lost 30 pounds. Now she has some tips to share.
After becoming financially free, Flanders still didn’t feel satisfied with the way she was handling her money, so in 2014, she gave herself a short list of approved items she could buy outside of food, experiences and personal items, only allowing herself to replace necessities, such as a pair of ripped pants or worn out shoes. After her first year was a success, she went for a second year, this time keeping track of everything she purchased. She finished up her ban this past July.
Now Flanders, who is traveling the U.S. on a two-month road trip, is writing a book, to be published by Hay House, about her experiences and how to help others with their money. She is no longer adhering to the shopping ban, but is always aware of the lessons she learned from the past five years of debt repayment.
Here’s what she has to say about it all.
(Excerpt) Read more at marketwatch.com ...
bkmk
The proliferation of mini-storage units is an indictment of the US culture.
Yes, there is a need for people moving, temporary storage after a divorce, etc. But the whole thing is kinda crazy.
Imagine if today, every single storage unit became a garage sale. The economy would collapse.
Two years ago I helped my mother downsize into a small condo. I sold everything on EBay or CL, that I didn’t donate. My friends and neighbors, two years later, bring me their stuff to sell. It’s turned into a great little business. My daughters have learned the difference between “needs” and “wants”. I’m constantly surprised by what sells.
ping
I’ve recently starting to listen to Dave Ramsey’s podcasts. They really inspire me to want to budget. You might try this for your wife.
One of my methods of decluttering is getting people (mostly family) to STOP giving us gifts..JUst pictures is ALL we want. And I am looking at giving more experiences as gifts...gift cards for a rock climb wall, etc.
I forced hubby who is over 70 to move from a 2 story house of 34 yrs with that kind of clutter, it had his, his late wife’s his late MIL and SIL crap too. After he fell off the top roof unto the second because of a BP dizzy spell. Took us months to empty and dispose of 30+ yr old crap and down size to a Starter Home with no second story. He was still wearing his 2 older brothers hand me down clothing except for the suits and dress shoes he had to have for work.
Usable items went to Salvation Army including a ton of expensive hard back books, many still in the plastic wrapping his late wife collected.
I am the consummate bargain hunter, rummage sales and Salvation Army and coupon user. I don’t discard usable clothes I can’t wear, as my weight changes constantly due to some meds I’m forced to take. Why buy new stuff just keep the old and you will eventually get back in it once the weight gain from stopping the meds backs down. Plastic tubs house them. His electronic parts are scattered all over attic, garage and shed no rhyme or reason to how they are scattered.
Trips we pack a cooler and eat at rest stops. 1 two week trip, only 1 night in a motel, rest spent at relatives.
my mom was a pack rat. When she went into the hospital I was super sick from chemo and could barely walk, let alone clean out her house. Thankfully my daughter and a friend volunteered to do it. They asked me what I wanted and I told them. Really small list. They spent 2 months over there every day having stuff hauled off and giving stuff away. one example, They filled one of those huge trash cans twice with expired canned food.
When they were all done my only thought was...I don’t want to do this to my kid and grandkids. My problem is I can’t talk hubby into getting rid of anything. lol
Our family has been instructed to give us presents that are consumable ( ie food wine chocolate etc). It has worked out well.
Yes...I do that with 80-90 year Olds in our family....don’t think they appreciate it, however...but we have strange family
My son wanted a specific watch for his birthday. For me it was an expensive watch. So I sat down and figured out what I had to give up for this watch. Then I started giving up other stuff. It’s amazing what a difference it has made. And all because of a watch.
My wife's dad used to own a liquor store before retiring; he kept crates of liquor and cigars in a side area of the garage. Don't know why my mother-in-law kept it for 3 decades after his passing, she kept everything he owned including his clothes. Besides the other stuff, there was lots of lumber and boxes of jars packed into a storage room under the house, and lots of lumber packed under the front stairs of the house (3 levels). My wife and her sister were discarding clothes and my wife chastised her sister for simply throwing clothes into discard bags. My wife went through every pocket and found money and jewelry items, that otherwise would have been discarded. We stopped hiding money in our own clothes after that!
In her defense, Grandmother-in-law probably had some form of dementia (I didn't know her all that well). That, combined with living through the depression made a squirrel out of her.
Most of my money goes to rent, grocery’s, food, car payment, gas. Car is paid off next May and I will have my credit cards paid off too so I figure saving hundreds until I go into debt again..... I could save a fortune by not eating bags of chips and chocolate bars or eating at restaurants.
I do not even go on vacations to exotic places. I live in California where it is expensive.
I should have stayed in Minnesota where it is less expensive. Just that darn winter gets in the way.
All my stuff should be gold plated with what I have spent.
Those little habits deplete wallets, don't they? I also love bags of chips. For a while I tried planting potatoes in the back yard. My granddaughter loved helping me dig them up, washing and peeling them, and cooking our own potato chips. But it's a battle keeping wild animals from messing up the plantings, and so much easier to buy the chips. Popcorn is an alternative, and much cheaper if you pop your own.
Yep. Women need to work especially hard to make it work, whereas we can look good every day with ten button down oxfords, a few blazers, slacks and a snakesnest of ties. Hats off to women!
You seem like a really self-aware person that lives a fulfilling, entertaining, “examined” life. My kind of FRiend.
Heck I rock most days with a Dickies work shirt and Levi’s. Gotta have my ball cap.
Plus you gain weight. I feel like a trapped gerbil in my cubicle. I notice when I have time off from work I lose weight.
I feel bad for you, but I know the feeling. I'm retired now. But I recall that I couldn't wait to escape my cubicle and get out to a restaurant. I didn't particularly need to, but I enjoyed food to get my mind off work, and I hated my boss. He would chastise me, telling me I should eat my lunch at my desk so I could be available and work at the same time. I felt like decking him. Eating out was my escape from being around him.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.