My plan is simple: owe nothing and live on little.

In order to do this I’ve made a list of a few goals that I posted on my journal and have modified a bit. Some goals are short-term and some are long-term, but I do hope to fulfill each of these before I’m in my 30’s.

  1. Pay off my credit card.
  2. Have at least $1000 in savings (setting aside $50-$150 monthly).
  3. Have a constant small amount of clothes that I can mix and match (if I buy something new, I must throw away something old).
  4. Give away everything I don’t need or use to Goodwill or Second Harvest. This includes items in my room, kitchen, living room, desk, pantry, etc.
  5. Recycle as much as I can.
  6. Save as much money as I can on items that I frequently shop for (groceries, for example).
  7. Wait two weeks before buying something to make sure I really want it (I’m an impulse buyer sometimes).
  8. Purchase a car and pay it off.
  9. Purchase a small home and pay it off or rent it later on.
  10. Invest.

My goal is essentially to be 100% financially independent, owing money to NO one (except for insurance), and paying things on my own. That includes a mortgage, car, credit card companies, etc. I want to have a financial cushion in my savings just in case.

Before I make any purchase, I want to think it through beforehand and figure out if I really want it/need it and how much I will have to save to get it. I don’t want to “waste” any more money on a temporary living situation (ie. apartment) unless I absolutely have no choice.

I have a list of items I’m willing to save for and I will be posting that list very soon. Some items are costly while others are not, but my process will be the same for each one.

This decluttering plan is a lifestyle change for me. I don’t want to pay off everything and go back to the same mistakes I made before. I want to live debt free for the rest of my life, and not have to worry about living paycheck to paycheck. My ultimate goal is happiness, and debt free is a very big part of being happy for me. Wish me luck!

Advertisements