Imprisoned by Debt:
We lived just like most Americans for years and years. Paid our debts first, then our bills, and we spent (more than) the rest every week. We kept going further and further into debt. No saving, and very little giving.
Climbing Out of the Pit:
Just last month, we sold tons of our furniture, including a baby grand and other instruments, and we are looking to sell two of our cars. We dejunked a lot, and now we are trying to live more simply as well. The biggest differences to our budget though, were discontinuing use of our credit cards, and reducing our grocery budget. (I all but stopped buying prepackaged foods, including breakfast cereals.) We are slowly but surely coming out of debt. I figure in about four years (Lord willing), we will have our mortgage and student loans paid off and be completely debt-free. Three years, if we are able to sell both cars. After that, then what? We haven’t completely decided. We know we want to continue living frugally. But beyond that…
Life After Debt:
How much should we give away, how much should we save? Should all of our money go into banks, or property, or what? In this economy, is it a gamble to invest? I sort of want to buy some property and learn how to be self-sufficient, but another part of me wants to travel first. Should I feel guilty about traveling though? I don’t want to blow money when I could be helping others. My husband is up in the air with me.
A Call for Help:
Should we work less because we need less, or accumulate the extra? What do you think about investing? Do you have any ideas?