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.
- Pay off my credit card.
- Have at least $1000 in savings (setting aside $50-$150 monthly).
- Have a constant small amount of clothes that I can mix and match (if I buy something new, I must throw away something old).
- 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.
- Recycle as much as I can.
- Save as much money as I can on items that I frequently shop for (groceries, for example).
- Wait two weeks before buying something to make sure I really want it (I’m an impulse buyer sometimes).
- Purchase a car and pay it off.
- Purchase a small home and pay it off or rent it later on.
- 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!
Life, Decluttered. 
Not owing anyone money is one of my biggest life “must haves” (I couldn’t think of a better word) – I am fairly broke at the moment (still on maternity leave, but it’s unpaid) but because I have no debt, it’s not actually that hard going. I just can’t afford pointless crap I would normally waste money on (no bad thing).
I have seen too many friends and relatives get themselves into debt, and from there, borrow to pay off loans… it’s a vicious circle people are best off out of.
I think my only exception to this in the future will be a mortgage. It’s fairly inevitable that we’ll need one to buy somewhere, and we don’t have the savings to afford it, but I’d like that paid off as quick as possible too.
I can’t begin to tell you about how much debt my parents are in, my older brother and sister are in, and even my friends are in because of credit cards and loans. It’s a slippery slope and that’s why it’s so important to practice mindful spending. It’s very easy to sign your life away on a card or a loan without thinking of the future. A mortgage is my biggest hurdle. I haven’t started shopping around yet but it’s a big decision and will most likely take me months, or even a year or two, before I finally decide on what to do.