My Journey Through Debt: Part 4: Cutting the Budget: Entertainment

For all of you that are new to this series, you may want to head back to the beginning of my debt journey by clicking here . We will wait.

After stopping the outflow of money through bad spending, I knew I still needed more accessible money if I ever wanted to be free of the albatross of debt around my neck. I had to cut the budget.

I am dividing up this segment of my journey for two reasons. First off, it will be easier for me to write because there is so much ground to cover. The second reason is that it will be easier for y’all to digest if it is given in little doses.

I say it will be easier to digest because this stuff is painful y’all. There is no fun, whatsoever, in not only denying yourself new possessions and activities, but getting rid of those you have already.

In the world of paying down debt, the first line item to be cut is entertainment. While it is the first to be cut, it is also one of the hardest for us to do. We rationalize with ourselves that we need those moments of fun. To perk us up after a long day. To reward ourselves for dealing with a horrid boss all week. To have something to do over a weekend.

But listen. We do not need those things. We want those things. And right now, you cannot afford to obtain those things.

The following list is painful, but bear with me. Remember, I have been were you are. In order to speed up the process of getting out of debt you are going to have to truly and honestly consider taking the following steps.

• Cancel your cable/satellite TV. Now I know your immediate thought is that there is a huge charge for canceling before the contract is over. HOWEVER, is that charge more than the monthly bill times the amount of months left in the contract? No? then cancel it and put that money towards your debt. Yes, you may be out of the loop as to what the latest reality show stars are doing, or you might miss a sports game or two, but as of now, you have more important, life changing things to do with your funds.
• Stop Netflix or video/game rental. Your local library had a vast collection of movies for your viewing pleasure, and they are free.
• Stop going to the movies. Once again, the local library has new releases almost as soon as the video stores. Get put on the waiting list to borrow the newest flick.
• Cancel, or scale back your cell phone. I know that you are already thinking, “but I need my cell phone.” However, actually, no, you don’t. No one needs Internet on his or her phone. No one needs texting (unless you are hearing impaired.) Most people do not need a cell phone, period. For those that must have one, a pay as you go, track phone is the best option. It will allow you to have the security of a cell phone while paying down debt, yet a much smaller bill at the end of each month.
• Stop going out to eat. While food will have its own post at a later date, this is a very simple, and quick method of saving money. Make your food at home. More on this at a later time.
• Stop going to places that you know will be a money pit. Examples: amusement parks, concerts, fairs, rodeos, car shows, bike shows, malls, and the list goes on. If you know you will spend money if you attend, don’t go.

I know this is a painful list. I know you probably want to kick me right now. I know that you have a laundry list of reasons that you simply cannot abide by this list. I know, because I have said them all before. I railed against this list. I yelled. I pouted. I sulked. However, once I finally bit the bullet and started to actually do the items on this list, I saw a huge increase in the amount of money available to me for paying down the principle of my debt.

As the principle of the loans went down, my attitude got better. Remember, this is not a forever situation. You do have an end goal. There will be a time that you may reinstate the entire list. However, as of now, your main concern is climbing out of your debt pit.

You can do it. I know you can, because I did. Set your goals and set out to attain them. As Bryan Tracy said, “Goals are the fuel in the furnace of achievement.”

~Annie