I have a wild and crazy dream – or is it wild and crazy? I want to live debt free. I am not close but I am not ridiculously far off. I have not used a credit card since last summer, except for my trip to Italy and yes I added some debt there.
This month I am $522 less in debt than I was last month. That is a great feeling. I won’t get into the details because that is boring even to me, but I will say that if I do things right come June of 2012 the only debt I will have is my student loan. That is huge debt, but if it is the only debt I have, then well, maybe I can work on paying it down quicker or put more to my savings goal.
Image that, being debt free? Keep in mind I don’t own a home right now, I rent. So if I ever decide to buy again I will have debt, but I would have to think long and hard about that. The pros don’t necessarily outweigh the cons for me at least for the next 5 years.
You have heard me say this before but the one area I can definitely save in is eating out! I started using www.mint.com to track my spending/budget for the last 30 days. I was SHOCKED to see the total I spent on all food related things (groceries, eating out, coffee, snacks, etc.). Now eating out is important to me. As a single person it is too lonely to eat at home alone all of the time, and much of my socializing is done around meals, BUT the amount I spend it way too much. I am aiming to reduce this by 30% next month.
Something tells me that once I have a puppy to be home for, the eating out costs will go down too 😉