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I know that my life is very different now that we’ve eliminated $109,000 in credit card debt. We have breathing room in our budget, we have the freedom to decide what we do with our money, and life is just over all less stressful. But every now and then, something happens that brings me back to the days when we were struggling and reminds me just how much better off we are without the weight of debt holding us down.
My smoker is in need of some maintenance. The rope gasket I had installed on the cover of my smoker had wore out and fallen off, so I made a trip over the weekend to a local fireplace store to replace it. An employee helped me get 10 feet of the gasket I needed, as well as the adhesive I would need to affix it to my smoker. The bill came to just over $35.
While the bill was exactly what I had planned for, I was suddenly reminded of the first time I bought rope gasket for my smoker. I had been told the fireplace store carried the rope gasket, but I didn’t know how much it cost. I was surprised to find out it was $2.50 per foot for the thickness I needed. There was also the matter of the $10 tube of high heat glue I needed. I hadn’t expected those two items to cost that much, and at the time $35 was a huge chunk of our weekend funds. I left the store empty handed, and headed back home to discuss with my wife whether I could make the purchase or not. I did eventually get my rope gasket, but had to wait another week or two to spread the cost out.
My most recent experience was very different. I knew exactly how much the items would cost, and during our weekend spending financial meeting I put them on the list of potential purchases. Instead of having to save a little money for three weekends to afford them without severely hindering other spending, it easily fit in our weekend allocation.
It still warranted discussion as to whether it was a good use for our money, however. I knew it wasn’t a “must have.” It’s simply something for my smoker, which is a hobby, to run more efficiently. Had there been other more pressing items that our money was needed for this weekend, it would have been the first thing to get crossed of the list.
There was a time that debt was on the brink of keeping us from paying our bills each month. With some help we were able to put ourselves in a position to be able to do that if we managed our money correctly.
Debt was also keeping us from fully enjoying life. After years of overspending, we had very little left over after meeting the basic necessities of life to do anything else. There’s certainly something to be said about being able to pay your bills, put food on the table, and clothes on your back. But life is supposed to be more than that.
The purpose of life is to enjoy it. Debt kept that from us.
I get asked frequently how paying off our credit card debt has changed our lives. I could spend an hour answering that question. I could talk about how it has improved how my wife and I communicate, and how our marriage is stronger because of our experience. I could talk about how we now have more wiggle room in our budget, and can now once again invest in our future. I could even talk about how it’s affected our children and how they view money. But if I had to sum it up in one sentence, the one that comes to mind after this weekend is:
I can buy rope gasket.
Has debt been keeping you from fully enjoying life? What are you doing about it?
Excellent post Travis and could not agree more about the freedom associated with not having debt. I remember going through very similar instances, and still do from time to time, after becoming debt free. That freedom and ability to enjoy life became addictive very quickly. I wanted to do all I could to make sure we could continue to live that way. It makes life so much richer as opposed to being shackled by something.
I agree, John – now that we’ve been free of those shackles for a little over a year, I can’t imagine how we operated before….!
So true Travis. So many of these little things debt keeps you from on a daily basis add up over time adding frustration, stress, guilt to your life. Once you eliminated the debt, you begin to enjoy these things more, like buying gasket for a smoker.
I’m happy that it’s still the little things that make me appreciate where we’ve come from, Brian. It’s not even the rope gasket…it represents being able to enjoy a simple hobby of smoking meat for my family.
Ah it’s nice to know you can just get the things you need to make life more pleasant without this huge discussion or thought. You’ve come a long way!
The difference is night and day, Tonya. Obviously we still have limits, but I’ve found that Vonnie and I are just so over buying things….we typically end up underspending on the weekends. 🙂
You and Vonnie have come along way, Travis. It’s one of life’s great ironies is that many people get into debt living life beyond their means to only later realize that it actually robbed of their ability to enjoy life. I’m glad you’ve moved past that stage and now have the freedom to enjoy life and spend money on the things that truly matter.
Ironic it is, Shannon…..and unfortunately it will affect us for the rest of our lives. Sure, we can try to pay catchup, but I cannot even imagine how much we’d have saved for retirement if we had done things right!
I have to agree with you that debt keeps me from fully enjoying things. I’d like to watch my savings grow and grow, but right now the important thing is to keep paying down that debt. I know that it impacts my networth in a positive way, but it’s not the same thing psychologically. I try not to let it influence my purchasing decisions either, but it always lingers in the back of my mind. Can’t wait until I’m free from debt!
Keep at it, debt hater, with hard work and persistence your debt will be gone before you know it!
It’s amazing how much thought you put into the purchase of a rope gasket. It’s things like this that remind me and motivate me to stay on track. Thanks for the motivation!
When your budget’s restricted, Jason, you have to put a lot of thought into any purchase..as for the more recent rope gasket, the memory just sort of rushed back without any warning. I’m a sentimental kind of person. 🙂
LOVE this, Travis. Even after paying off just a fraction of our debt, it’s so nice to have even a little wiggle room in our budget, and knowing that we have a plan and are working that plan just makes life more peaceful.
….and doesn’t every single dollar of wiggle room feel SO EARNED? Am I right, Laurie???
I’ve said a million times that paying off debt buys freedom and choices. I love that you appreciate the ability to buy rope gasket! I would not trade the experience of debt payoff for anything because it does make you appreciate the little things.
I say the same thing Kim….our journey has given us such a different perspective on what is important in life, and a stronger relationship. Now, if only we could have learned that without having to pay back 100K+ in debt…lol
I love those moments of minute awareness when you know things are good! Life is a series of small moments, and living them free from debt-worry involves such a range of positive ripple effects. I hope you never lose your appreciation of all of the small changes for the better.
I hope to never lose that appreciation either, Prudence…..like I always say, Happy people are not thankful, rather it is Thankful people that are happy!
Not having any extra money sucks! In my early 20s, I didn’t have money to go out to dinner or buy anything, really. I wasn’t in debt, was just broke. It sucked. It is nice to have a little more money and freedom now, even if I don’t always take advantage.
Having the wiggle room, but making the choice not to spend it feels very powerful. I LOVE having that ability! Thanks for your comment, Holly!
We paid off student and medical debt on very little income. It took years (and probably years off my life). Getting out of debt meant easing up on the stress of finances. Plus now the stress is pretty different: It’s worrying about whether we put away enough, rather than how much we could pay against the interest-earning balance.
And it is wonderful to not have to go back and forth about whether you can/should buy something. At least, not with as much guilt.
I’m glad to hear about the fabulous progress you’ve made, Abigail. Good work – and keep it up!! Thanks for reading!