As long-time readers know, we here at Fruclassity tout paying off your debt without living under a rock and eating rice and beans for years on end. While we fully support the Badassity movement, Ruth and I also recognize that not all people are cut from the same cloth, and whereas the extreme debt payoff mode might work well for some, it may not work so well for others. Here’s an excerpt from our “The Fruclassity Mission” page:
Fruclassity is made up of two words: “frugal” and “classy”. “Frugal” means kicking debt to the curb. It means shedding a keep-up-with-the-Joneses compulsion, and letting go of an identity based upon material possessions and passport stamps. It’s about getting real, making sacrifices, and taking serious and ongoing responsibility for personal finances. And what about the “class” in Fruclassity? It’s the affirmation of your uniqueness. The room for “extras” that encompass what you value in life. It’s the creative side of frugality. How romantic can you make your dinner date at home? What renovations can you do on $100?
Fruclassity fully encourages paying off your debt, yet doing it in a way that still allows for fun and extras that allow you to occasionally spend on things that you truly value.
In our case, we’ve got some pretty hefty upcoming expenses coming up in the next three months:
- Hay for the horses, which we buy on an annual basis
- New tires for two of our vehicles
- A furnace repair that is not urgent but needs to be done
- Krav Maga lessons for the kids, which is a huge priority for us
These expenses will add up to a good $2500, and we’re determined to pay them all in cash without touching our emergency fund. Our budget is still tight as we work to pay off debt, and our income is well under $100k, so saving up cash for these expenses is going to take more than Fruclassity – it’s going to take Badassity.
In that vein, we’ve decided to take the next three months and have the “rice and beans” attitude about spending. No entertainment spending. Minimal food spending. Minimal gasoline spending for me. We’re going to pay the bills and try like heck not to spend any more than we have to spend after that, in order to save up as much cash as possible for the upcoming expenses.
I also realize that there is a mindset adjustment that needs to come with this time period, as there is with any large goal. Part of my mindset training has been that I listened to the Dave Ramsey show for the first time yesterday.
If you haven’t listened before, Dave Ramsey, the Total Money Makeover author, shares on his three-hour podcast all kinds of advice on investing, money management, and debt dumping.
Dave’s tell-it-like-it-is style helps me to realize the importance of getting “gazelle intense” during this three-month period, and maybe afterwards too.
Although we’re doing a good job at dumping our debt, I’m ready to do a GREAT job at it. I’m ready for “gazelle intense”.
I think. 🙂
As we’ve talked about before on this site, there are many factors that need to be taken into consideration on a debt payoff journey. All massive debt loads come from psychological misunderstandings about yourself or your money. In our case, we were using spending as a way to cope with childhood pain that devastated our self-esteems.
Both my husband and I have come a long way in terms of healing from those childhood experiences, but there’s always the fear that they’ll crop back up and cause us to fall off the wagon, you know? Especially in times of stress, like when you’re going gazelle intense for a month, or two, or three.
But for the sake of our children and our family we’re willing to try. And we’re committed to succeeding.
What about you? Have you ever had a period in life when you needed to get “gazelle intense” to reach a goal?
*Photo credit: Joseph Echeverria