Feeling trapped is exhausting, it can drag you down. Keep you in a slump. Once you get out of that slump, once you are free, you can finally live again.
You might feel dragged down by your student loans, car loan, or maybe you went a bit over your means with that credit card and now, you simply do not know how to get out of it.
Since we started saving over half our income, our budget has slightly changed. We now shop less, eat out less, buy less, but that’s all good things!
We buy a lot less stuff, but we value experiences a lot more anyways. We still travel a lot, eat out in amazing restaurants, and do fun activities… We just spend way less time at the mall.
Everyone has to start somewhere. No one is born a financial genius, nor does everyone have an interest in their personal finances. We all have dreams, goals, bills, and expenses. Personal finance is exactly that; personal.
From a young age, children see their parents swipe those magic plastic cards that let you take anything from stores. They then learn how the bank of mom and dad can pay for the movie nights and new shoes.
We live a conscious life.
We consciously choose our purchases, our investments, and our lifestyle.
When we face a choice, we try to think of alternatives and try to pick the optimal option that will maximize our happiness while minimizing costs. Using the utilitarianism ethical theory, for example, “Happiness” here is defined as the maximization of pleasure and the minimization of pain.
Shopping for a house was a huge consideration for us and it should be one for anyone in the process of moving since it is likely the biggest purchase one will make in his life. Buying too little might not be wise, just like buying too big might not be wise. Depending on your location and plans, renting might be the optimal choice rather than buying and living slightly further from work might be better than living downtown.
In some cities across America and in most of Canada, our generation is having a really hard time finding affordable housing. Rents have gone up faster than wages and housing prices have risen even faster with the advent of low-interest rates and the overflow of foreign buyers. In Canada, for example, the average house price has not dropped in the housing crash that the U.S.
Consumerism is a norm in America and most people go to the mall because… why not? The Motley Fool reported that the typical woman makes 301 trips to the store annually, spending close to 400 hours a year buying clothes, books, food, and toiletries. This is a LOT of hours! But does shopping actually make you happier?
Simply by looking at the increasing average credit card debt, one can quickly see how this is not sustainable.
You might have noticed that I did not post anything yet this September. Well, it is because I was busy getting married! 🙂 We had a wonderful celebration in a nice golf club near our house and I don’t regret a single second of it!
Want it or not, marriage has a lot to do with personal finances and financial independence.
I read a lot of personal finance blogs and publications but one thing strikes me; there are so many writers that are telling their heroic stories about how they got out of debt. Guys like Grayson Bell from Debt Roundup is seen like a superhero when he gets out of $75,000 of consumer debt in 4 years.
I am all for getting out of debt and sites like Grayson’s does help thousands of people get out of the debt trap but there is nothing heroic about getting into debt in the first place.
For the average american, debt is normal, debt is good; debt is a way of life.
That is not the way of life I desire and I chose to not live with any outstanding debt except for my mortgage. If you are currently trying to get out of debt and have student debt, unpaid credit cards, or outstanding loans; you are at the right place to take the step towards a better future.