We’ve learned many lessons this year, among them how to actually appreciate and value the things we purchase. It has made us a stronger family unit, and it has helped to instill values in our children that will hopefully help them in life for many decades to come.
At the beginning of 2019, my wife and I were in a really bad spot. We owed an insane amount of money on credit cards (6 figures), and we were making $3600 a month less than what we needed to pay our bills. We had no savings, we had very little in our 401k, and we were almost certainly going to lose the house we had bought just 6 months prior.
We committed to solving our debt crisis once and for all, and we knew that part of doing that meant we had to set some really large stretch goals to keep us honest and aggressive in our efforts.
I told my wife, “We need to set a big number in terms of the debt we want to pay off this year, and it needs to be large enough to frankly make us uncomfortable.”
We set our golden number for the year at $50,000.00. Fifty-thousand. A FIVE, AND THEN A BUNCH OF ZEROS. That was a stupid number, and there was probably no way we would come close, but damn if we weren’t going to try!
When I have set similar lofty goals in the past, it has rarely worked out well…
Dave at age 10:
Goal: “I bet I can jump this canal on my bicycle!”
Result: Broken bike, broken bones.
Dave at age 22:
Goal: “I bet I can beer bong this entire 5th of whiskey!”
Result: Waking up in that same canal, wondering what happened to my pants.
Dave at age 35:
Goal: “I bet I can put a flat screen TV in each room of my house!”
Result: See paragraph 1 of this post.
So needless to say, I was somewhat pessimistic about the financial goal I had set for us to achieve, and I had a lifetime of results (or lack thereof) to back that pessimism up.
And yet today, a month and a half early in fact, we hit our goal.Read More »