We
are nearly one third of the way through 2021 already! That amazes me quite honestly, but excites me
too because this year, same as last year, I am trying to do a low spend (no
spend in some cases) year and so far I am managing it quite nicely. I’ve pretty much stuck with a very low $100 a month grocery budget that I’ve
manage to keep at budget or under every month so far, minimal spending for
clothing, toiletries, household supplies and even our entertainment
expenses. What has that meant for me?
Well,
in 2020 it meant that I was able to get rid of all our debt (Yeah baby!), fully fund and even
increase our emergency fund, add to
my savings and retirement savings accounts, start and fund an HSA, build a prepper pantry and stockpile
some supplies and even start a prepper pantry for our chickens and kitties.
This year I’m in maintenance mode of all of those things and am
utilizing a pull and replace mode. I've
been able to do that using our regular budgeted funds too.
I’ve
become a super saver this year too and boy does that ever feel amazing. Every extra bit of money I earn and all that
is leftover once bills are paid, gas and groceries are purchased, and any other
expenses are met goes right into savings.
Early retirement will be
possible! Yipeee!
My
plans as we move forward this year is to keep on keeping on. Spend less, save more and strive to remain
debt free. I am feeling empowered! Some of you have told me that you too are
doing a low or no spend year this year.
Let me know how it is going.
Share any tips you think might be helpful too.
Congrats on hitting ALL OF YOUR GOALS!!!!!!! I can assure you this financial lifestyle is here to stay. Even after 22 years and paying off mortgage, writing a check to replace my old car, I continue to monitor all expenditures even though not a necessity. Without conscious thought, we spend mindfully and our savings continue to grow even though I'm retired and drawing a monthly allowance.
ReplyDeleteI can imagine your giddiness at arriving here! Welcome!!! :-)
Thank you Elle. I am beyond thrilled.
DeleteThat’s great!!! How has your heart issues affected this? Medical bills can be outrageous
ReplyDeleteThis next round is going to probably give me a shock I'm sure. Fortunately I had funded my HSA to cover any out of pocket expenses plus I have an emergency fund just in case. Thank goodness! We will see how it all shakes out.
DeleteThe fact that I'm on a low and no spend journey this year just makes me feel that much better about my financial situation. I feel we'll do pretty well once all is said and done. Fingers crossed.
Proud of you, girl. You're giving us some inspiration for our own lives, too. (Although we already have been living in our fifth-wheel for nearly two years now! And yes, it's going well.)
ReplyDeleteOne thing that did occur to me, when rereading your "early retirement" post -- when do you normally get your yearly bonus? If it's in December or early January, it might be smart to wait and work a month or two extra on your plan...THEN give your notice for retiring. That extra money could really come in handy for the future.
You better believe I will do this so it benefits me the most financially.
DeleteKeeping your plans close to yourself until you actually announce them at work might be very smart, too. For the same reasons.
ReplyDeleteYou are absolutely correct about that. I won't be sharing much of anything and plan to just submit my 2 weeks notice when the time is right. As far as anyone knows it's a few years down the road. ;)
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