Saturday, December 28, 2013

Finding Balance, Claiming Space

Finite money meets infinite goals means a fair bit of creative play with the budget. And compromise. Always comprise.

The closer we get to our goal, which is also to say the longer we've been in debt, the more impatient I become to pay it off, and the more we would like to enjoy our life.

At this moment we owe $22,200.85.

We could pay this off in a year, and when I think of being completely debt-free within 12 months I couldn't be more eager to get it done and commit myself to the plan.

But then I have to agree to live less.

I'm really, really not fond of anything that keeps me from living life in exactly the way I'd like to live it, which involves a ton of travel, lots of activities, and having the flexibility to say yes to new experiences (or books)!

The original plan we set involved a five-year payment plan to get $62,000 of debt paid off by December 2015. We started and ended up annihilating debt faster than we planned, and the date of December 2014 seemed within reach.

This year we had a slower payment schedule, due in part to Belle's end-of-life care (which we worked out to be an average of $1000 a month, every part of that money well spent), other unexpected costs, but also because we decided to start living a little more. We traded the potential of debt-free months in for life, and it has delayed our repayment, but our lives are much richer for it.

 If you had told me a few years ago that I'd make this choice, I'd be livid, but now, living this life we're creating, I couldn't be happier.

We could still pay our debt off by 2014 December, but neither one of us thinks it's worth the sacrifices we'd be making: Vegas, Galiano, Chicago, Colorado, sculpting classes, dance lessons, books, electronics... We'd miss out on so much.

And we don't want to miss these opportunities.

We've reset our debt repayment date to 2015 December, which puts it back to our original five-year plan instead of the four-year goal that became our pursuit for a time, and we're both really good with that.

So, here it goes:

BCSL: $2508.46
NSL: $19,692.39

....and dropping.

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