Making it Rain!

Tax season is that time of year when people fantasize about how to spend their tax refunds.  In years past, I’ve used tax returns to fund vacations, cars, tuition payments, and clothes.  My favorite vacation was taking my wife to the Dominican Republic.  It was great practicing our Spanish, walking on beaches, and exploring caves.  It was a much needed vacation, as my wife 7 months earlier, gave birth to our daughter. 

This year, we made the difficult decision to forgo a trip to pay toward my student loans.  Well, it was difficult for my wife lol!  She is such a trooper, thanks for being Bonnie to my Clyde during these difficult times babe.

Big Belly, Small Wallet

Another component to my debt payoff journey is reducing how often we eat out.  After reviewing our credit card statements, I realized we spent over $6,000 last year at restaurants and fast food.  This year has not started off any better, as we’ve spent $600 in the month of February alone.  It seems like the more we make, the more we spend frivolously.  My family and I are blessed having not missed a meal, live in a safe dwelling, and have affordable transportation.  So the following questions boggle my mind: 1) Why must I feel entitled to dine out while having a refrigerator full of food?  2) What if I made a $6,000 payment toward my student loans instead of dining out?

With that being said, my old spending habits will not hold me back from a debt free future.  My last shopping trip included some of my all-time favorites: hamburger patties, General Tsao’s Chicken, and yogurt for smoothies.  There’s nothing like a blueberry/mango smoothie after a long day of work.

Challenge Accepted

The first challenge I foresee with not eating out would be my daughter missing out on pizza, her favorite meal.  Second, my wife and I enjoy trying new restaurants as a weekend hobby.  Cooking on weekends will take lots of time and energy.  Third, managing my schedule to help out more in the kitchen.  Disclaimer: I have cooked twice in the past month.  Thankfully, there were enough leftovers from each meal to last a few days.  Although my wife didn’t eat much of the food I prepared, she was gracious.  Hmmm…  Which leads me to my final challenge, to improve my cooking.

Thanks for stopping by.  Below, is an update of my student loan repayment progress.

What have you given up to help with debt payoff?  Until next time folks, fight on!