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TinyDancer

My Motivation

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by , 01-10-2010 at 12:24 PM (1407 Views)
Sometimes, when I'm bored or need some extra motivation or simply need soothing, I like to log into my ING account and just look at the balance. It's not that I have a lot of money in there, I don't. But it does make me feel better to know that I have some money saved and that the balance is bigger than it was last paycheck. This is especially helpful when I start to worry about not having a job. Is this wierd? Does anyone else do this?

I have quite a bit of debt. Much more than I ever dreamed I would have. I owe this to lifestyle inflation. The more money I make, the more I spend beyond my means. I've really focused on living within my means the last year and a half and I really feel like I've built some good habits. I still screw up from time to time, but thankfully those times are becoming few and far between. I believe that this year, I'm in a position to actually pay off most of my debt.

I had an epiphany the other day when I was looking at my 401(k) and Roth IRA balances for extra motivation. I was BREIFLY considering using the money in my 401(k) to pay off my credit card balances. (I'm not going to do it, so please don't yell at me. ) If I can manage to work 15 hours of overtime each week, I would make an additional $24,000 (before tax) this year. That is more than enough money to pay off my debt and still build my savings.

Part of my problem with a lot of the debt reduction advice I read is that I'm supposed to sacrifice just about everything until the debt is gone. It makes financial sense, but life isn't just about finances. Life is short and I don't want to sit on the sidelines for the number of years it would take to pay off my debt. But sacrifice for one year? That I CAN do.

Now, I just need to get 15 hours a week of overtime in. I didn't make it this week. I only worked about 8.5 hours. But, that extra money will be going towards my cc's.

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Comments

  1. Bournecrazy's Avatar
    I log into my ING or other accounts too when i need a bit of motivation - I need to get a few things saved for this year so it does help and make you want to save rather than spend. Hope all goes well for you getting overtime and paying down your debt
  2. frugalwarrior2's Avatar
    My DH just landed in Bermuda for a week long business trip. Here i sit w/ 2 kids in the snow. I look at my fully finded BEF and feel better. A little security can go a long way to peace of mind. Yes,I do. No,it isn't just you.lol
  3. frugal-fannie's Avatar
    I check my husbands 403b and other balances to make sure I am on track. We fully fund his account since he is older. I just started putting 50 dollars per paycheck aside in my 403b this payperiod. I also hope money magically appears but it doesn't LOL