I have started reading 7 Habits of Highly Effective People (by Stephen R.Covey)….again. This time, slowly and intentionally, being sure to create parallels in my own life of which I can learn from. I am also taking the time to do all the exercises at the end of each chapter in order to really master the practical applications from the book. This book is of course, a habits book and although there is a lot of theory in this book, there is so much practical application that can be drawn from it. Chapter 1 alone, which focuses on the habit of being proactive takes 30 days to complete if you follow the exercises outlined in the book. I will be reading this book in piece meal for a few months as I internalize what I learned and turn them into habits.
Its been a while since I did a savings goal update, so I thought it would be a good idea to do one now.
Since debt freedom in Dec 2015, my husband and I set out to save and invest for the future with every paycheque….no matter what. We splurged our last paycheque in December of that year and starting fresh in January 2016.
started thinking how much time I wasted trying to think of what I could have done differently, even for things I had no control over. I analyze things; it’s kind of what I do. But sometimes, your strongest skills can also be your biggest weakness. Crazy how that works. All those analytical, perfectionist, worriers, sceptics know exactly what I am talking about. Sometimes I envy my husband’s ability to be so chill, relaxed and not worrisome about life. “Things will work themselves out”, he always says and for the most part they do.
If you are one of the many bloggers that worked to pay off your debt, then you know the sweet feeling that debt freedom can bring. Congrats by the way, for accomplishing an awesome life changing goal.
However, you might also realize that if you are not careful, old habits start creeping back. It might be using the credit card and not paying off the balance in full, not making monthly payments towards your savings (this is why pre-authorize monthly contributions are so important), tracking your spending or sticking to your budget. Whatever it may be, we all have our achilles.
Don’t expect everyone to understand or agree with your wanting to pay off debt. If you are seeking approval for your decision to aggressively attack your debt, be careful with whom you share this information with. Most people are deeply indebted and live paycheck to paycheck, and who can blame them, it is socially accepted and never discussed publicly. However, if you want to get a thumbs up on the debt repayment journey you are about to take, consider carefully who you share this news with.
Money personalities that classify people into two opposite spectrum can be dangerous and misleading. I am referring to the ‘spender’ and ‘saver’ labels that circulate the personal finance community. Labels like these can be misleading, limiting and simply incorrect.