Planning to move from two incomes to one.
So how do I intend to accomplish the seemingly monumental task of moving from two incomes to one(ish)? Well, one day at a time. A variety of smaller changes will help me to accomplish larger goals, until I finally arrive at my destination: working much less and a life with (hopefully) greatly reduced stress. I feel being able to devote more time to my family will be beneficial to my kids, my husband, and myself!
The first thing I do when planning toward a goal is write my plan down. Okay, so one big goal: quit my full time job and find a much smaller one! Next, I write down the main problems, or barriers to achieving this goal. For me, it is almost entirely financial (and a little bit of a mental block…one income is scary to me!). Finally, I write down the changes I can make to break down the barriers to my goal.
Some of my smaller goals are paying off our credit card (previous bad business decision…whoopsies!), paying off our land loan (readers note: think of this piece BEFORE buying a 50 acre farm…you know, if you had the spur of a moment urge to do something that. OMG Like, WHO DOES THAT? Oh right….we did, bahahaha!), paying off “our” motorcycle (thanks for that “investment” dear husband!), filling up our emergency fund, and sticking to a CASH budget (that’s so Dave!).
Once I have my smaller goals written down, I make a list of small tasks to achieve the goals. For example, to pay off our credit card, I threw every bit of cash that came my way at it until it was gone. Sticking to my cash budget helped me (sometimes) develop a surplus of cash from week to week, which also got thrown at the debt until it was paid off. I am a big believer in the Dave Ramsey plan, probably because he utilizes “baby steps”. I have been a fan of breaking down problems into small chunks ever since I can remember, so it feels natural to me. In fact I am famous for making my kids “find 10 things right now and put them back where they belong”. They hate it, but it’s over with so quickly (small chunk) that it’s not worth it to argue – it’s easier to just do it!
I believe small steps are key to achieving goals. Rome wasn’t built in a day, after all.