Debt Free…Now What?

Hi, welcome back to Financial Friend.

As some of you may know if you’ve read my first blog entry My Journey towards Becoming Friends with My Finances. at the start of this year, in February 2018, I became Debt Free.
I had been working on this goal for just over 2 years, and I thought that once I had achieved it, things would be different for me.
It has come as a bit of a shock to realise that actually, this is where the journey towards building wealth gets really difficult.

I’m not sure what I thought was going to happen once I became debt free, but in the back of my mind I think I imagined a luxurious lifestyle, being able to spend whatever and whenever I want.
But the truth is, its not like that at all.

I’m a single mum working full time in retail, therefore I don’t have enough money to have a ‘luxurious lifestyle’ even if I wanted to! I do have more ‘spare’ money now that I’m debt free, but I have to admit that I’ve not really stuck to my budget since becoming debt free either. I know, a shocker!

What worries me more is that I KNOW having an emergency fund of 3 months worth of expenses will stop me getting back into debt. But I seem to have lost all motivation recently.

So I know I need to get back on the money saving wagon, and am going to get strict with myself.
I aim to do this by:

-Restart Meal Planning every week. I always meal planned when I was getting out of debt and I swear it not only saved me money and time, but took the stress out of cooking.

-Write a budget. This is crucial to saving money. It will also help me to see just how much money I could be putting towards savings.

For now, those are my main plans going forward, although I’m sure I’ll add to them as the weeks go on. Stay Tuned,
C.

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