Trade The Journey

Trade The Journey

Weekly Progress!

Greetings to all! I hope this blog reaches you as you are striving towards a new goal. This week provided a much needed break from the rain.

Filing my taxes this year, I was unsure if I would be receiving any of my money back. With the new tax laws, I think everyone is unsure. The tax refund is likely the biggest cash surplus the most see all year. Like most, I thought of the tax refund as a bonus for the year. Once they deposited the refund into my account I believed it was my duty to enjoy the extra money.

Throughout the year, I lived closed to the edge, dependent on the next paycheck. And now with the extra money in my hands, I can buy what I couldn’t afford earlier in the year. Big mistake.

Once the money is gone the debt still remains.

Now I know the refund is essentially the government returning my money back for overpayment throughout the year. It’s interesting to see how a simple correction to your thought process can produce a new perspective.

This year I decided to use the refund to pay off some of the debt I accumulated throughout the year. I saved the rest of the refund. Just two years ago I would have went on a spending spree. Buying whatever captured my interest at the moment.

Paying off debt may not be exciting but it does provide a sense of accomplishment.

As usual, the small expenses added up throughout the week. However, I was able to keep the small expenses to under $25. I also have made a conscious effort to decrease the amount I spend on sushi.

This has proved to be quite difficult but I believe that it is necessary. Along with the cut of weekly spending on fast food the savings should begin to add up. Sometimes I question my purpose and if the short-term pain will equate to long-term gains.

Only time will tell if the plan you executed was successful or not. But I believe that overtime these small adjustments in your budget will begin to add up. As time goes you will begin to realize the power of saving and living below your means.

This week I’ll give myself a “B”. I’m a tough grader and a bit of a perfectionist. On payday is when I practice the most restraint because that sets the tone for my spending until the next check.

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