It’s sort of like the folks who decided they were going to fly to the moon. It must have felt like an impossible task. It’s so overwhelming that you almost don’t know where to begin.
Starting Debt (01.01.19): $124,310.77
Current Debt: $107,793.15
Total Paid Off: $16,517.62
Income Going to Savings: 1%
I had a chance to think more about my late Friday post over the weekend, and I came to the realization that I really didn’t celebrate my accomplishment as much as a I should have.
In case you missed it, I flipped the switch and began contributing a whopping 1% to my 401K.
Doesn’t sound like much does it? You’re right.
Then I started to look at it this way:
Less than 6 months ago, I had bills that were $3700 dollars more per month than what I was bringing in in income. You read that correctly… I was $3700 bucks upside down every single month.
As you can see by the stat cluster at that top, this means that in less than 6 months not only have I managed to pay off 13% of my outstanding debt, but I’ve also managed to overcome that $3700 a month gap and contribute that whopping 1% to my 401K.
It’s sort of like the folks who decided they were going to fly to the moon. It must have felt like an impossible task. It’s so overwhelming that you almost don’t know where to begin. But then you build your first o-ring and assemble your first flux capacitor, and you start to feel like you’re really making progress.
You know what? I shouldn’t have started that analogy. I don’t know jack about rockets, but I had started typing and it kind of got away from me.
Let me try it again.
It’s sort of like deciding to build a cruise ship. You get your first… uh… rudder?
I know even less about cruise ships. This is not going well.
The point is that we often feel overwhelmed with a massive burden like digging out from under six figures of debt. Yet if I really think about it, not only am I on the right path, I’ve actually put a really good dent in my debt in less than a half a year.
Thursday of last week I felt pretty awful about where I was at, but if I had just taken a moment and really looked at my situation, I would have realized that…
It’s sort of like the folks who had to build the Great Wall of China. There they were with a stack of bricks and some glue…
Nope. Thought that one might work, but it didn’t.
In any case take my advice and make sure you take time to properly celebrate victories big or small. You deserve it!