My pockets are tight


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Lately, we have been finding ourselves cutting out more expenses to increase the household cash flow.  It’s not that we cannot afford our lifestyle, it has more to do with wanting to live a debt free life.  Yes, it would be easy for us to buy matching his & hers vehicles, travel throughout Europe, and upgrade our home; but that would not prove anything.  It comes a time when you have to decide what is best for your family and become responsible for your decisions.

I am happy with the decisions we are making, together!  As a personal wealth expert, we were already abiding by the Cardinal Rule of Do Not Spend Money Without a Budget or Discussion. Since retirement is nearer than we would like to imagine, the reality is that we have to make sure our financial obligations are met and we are truly debt free.  Who wants to live in retirement with as much debt as when you were employed?  Definitely not our household.

So, what we decided to do was really tighten our pockets.  The discretionary income that we needed has decreased, allowing us to eliminate our debt even quicker.  Our plan is to be completely debt free in ten years.  No mortgage, no student loans, no expenses…except for utilities and personal items.  Yes, we are truly sacrificing today (within limits) to make sure our dreams come into fruition.

What makes this situation much sweeter is that we are working together as a team. Yeah us!!!

Part of our plan to work together is to:

1. Schedule and stick with our weekly financial conversations.

2. Find date night deals on and

3. Book travel expenses through priceline, expedia, or hotwire.

4. Take more road trips.

5. Let go of cable and subscribe to Netflix and Hulu Plus.

6. Take advantage of family plans.

7. Keep our vehicles…we own them free and clear.

8. Stick with our debt elimination plan.

9. Apply all bonuses toward debt.

10. Don’t withdraw from the checking account without discussing. (Accountability)

11. Never lend money to family and friends.

Yes, my pockets are tight, but it’s voluntary.  I’m happy to know that we will be debt free and happy. More importantly, our family is working together.

©ShabazzMgmtGrp, LLC.  All Rights Reserved.

About Bahiyah Shabazz 1003 Articles
Bahiyah Shabazz is one of the nation’s leading financial experts on the art of maximizing your growth. She's a wealth building expert, author, speaker, financial advocate, magazine and online columnist.

6 Comments on My pockets are tight

  1. Congrats! To be rid of your debt will be absolutely freeing! We have been our debt freedom journey for 3 years and have paid off about 60% of our debt, $57,900 left on our mortgage and it should take us about 2 years. I can’t wait to be FREE from the shackles of debt! Best wishes to you and your family!

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