I realize the injury of my thinking. I apologize for not responding to individual comments. It’s been a really challenging month due to being ‘busy’.
However, this week I sat down and read a lot of it during some quiet time of reflection. And I’m so grateful that you as a community continue to follow me. i need it.
Big change in plans
I realize that you all only see the tiniest part of my life here. There’s a lot to it. And it’s just a roller coaster. As much as I love the “adventure” that my life has been, you are right that this time of stability has caused me to struggle more than I do during times of high stress.
Sitting down to write about my failures was difficult. But what’s worse is that even when I admitted my biggest failure, I didn’t do anything about it.
I still spend down to the last penny every month. I did nothing significant to prevent the biggest challenges I’ve faced over the past decade… a few times. By that I mean losing my biggest source of income and not having a real cushion to help me.
I’m here for the holiday season. And while I pay off debts. And get things done that matter. I’m not focused on solving this, my biggest failure.
Failure to do this seriously contributes to a high level of anxiety, fear, and lack of self-confidence. I have to change this now.
Change priority
I realize this blog is blogging away from debt. But I feel it’s important to change my focus for a few months. And I need to focus on Build a large emergency fund. The recommended amount of $1000 is not enough.
I’ve learned this the hard way over the past decade. But I didn’t really learn, because I didn’t change.
I have to change now. This will allow me to be more confident that if something happens to my income, I will have time to replace it. (Goal = peace of mind that I can’t remember the last time I had it)
Savings goal: $36,000
I arrived at this number by adding the expected monthly output for the coming months outside of my aggressive debt payments and current savings plan.
Meaning, if I lost the bulk of my income, this is what I would need to meet all financial obligations for 6 months. (With a little wiggle room since I used averages.)
So my idea is, instead of paying to pay off debt. I pay to save, and think about 5 months to achieve this goal. Then I return my eyes to the aggressive debt payments.
ideas? If this is a good idea, what is the best place to put the bulk of these savings? I assume high yield savings, recommendations? This is a post I ask, not say. Ask for guidance.
The article Changed the Whole Plan – Prioritizing Savings First over Blogging Away from Debt appeared.
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