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April 22nd, 2014 at 02:32 am

I thought I was doing well, but sadly, I realized I fell off the wagon once again.

A few nights ago as I was meditating about my career, life, finances, etc., it dawned on me that at my age (late 30s), I'm way off my financial goals and I still have tons of credit card debt. Yes, I have saved and invested a bit, but I know that it is not enough.

Fortunately, although I entertained scary thoughts in my head that came at 100 worries per second and playing the blame game on what has gone wrong once again, I was able to calm myself and seriously think of a game plan on what I should do. First of all, if I plan to retire by age 60, I have to spend double time starting today for me to have a secure and enjoyable retirement.

With that goal in mind, I resolve that every decision (career- and financial-wise, that is) from here on should only make me wiser, smarter and richer - pretty much a better version of myself.

6 Responses to “Reboot/Reset”

  1. Rachael777 Says:

    and we are 100% behind you and ready to support or help!

  2. CB in the City Says:

    You still have plenty of time. Focus now, enjoy your early retirement later!

  3. snafu Says:

    Will you share 'fell off the wagon?' What is tempting your 'buy' reflex? What is preventing you from paying down your CC debt? Have you created an on paper budget/cash flow? I suggest you make a start by listing your debt and interest rates. If you're willing to share I'm sure SA bloggers will help with suggestions to get through this patch and move your forward towards your longer term goals.

  4. Mooshocker Says:

    We are all here for you! Jamie

  5. Recovering Spendaholic Says:

    Thanks, I truly appreciate all the support! I was doing well saving up and I was ALMOST done paying my credit card bill but here's how I fell off the wagon.. Early last year, my sister and I decided to finally take my parents on a vacation which we have been planning for a very long time. I charged the plane fare to my credit card and planned on paying it through the unexpected money i received from work. Unfortunately, I wasn't able to pay the amount in full and then spent more than the budget I set for the trip. And then it spiraled from there. I lost a part-time job, emergency repairs at home, etc.

  6. snafu Says:

    Ok, thanks for sharing, we've all fallen 'off the wagon' from time to time. Things go off the rails but the most important thing is to re-group, rejig the figures to accurately reflect your income and spending. I suggest identifying and then separating Needs from Wants and go forward. What do you owe from lowest to highest? What interest rates? Happy to help you work out a new plan

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