2018: The Beginning Of My debt Free Journey

So, on my day off; I decided to take full advantage of this free time. I’m planning, prepping and looking forward to a New Year/Life. I’m not the same woman I was when this year started and I definitely won’t be that woman next year nor the years to follow.

Woo hoo, my book that I ordered on Amazon: The Automatic Millionaire by David Bach; finally came in the mail yesterday. I can’t wait to start reading it, I’ve heard nothing but great reviews. My first read of the New Year and I’m excited. I’m also getting ready to do my 2018 annual budget via Excel, The Figure Maker created an awesome one, that will be a guideline for me.

So, what am I gearing up for? I’m about to tackle this DEBT. As of today’s date 12/27/2017 my debts equal $87,810.00 (student loans accounting for $71,572.00 . . . I shouldn’t have went to college, like seriously) w/assets of $10,646.00; which brings my Net worth to -$77,164.00 🤦🏾‍♀️Booooo . . . It’s okay; PAUSE: Who the hell am I kidding, this shit isn’t okay. I’m really just trying to see the good in my horrible ass New Worth. lol I’m GOING to be okay though because my journey to rid myself of debt has begun, the key is to start doing something about what you don’t like, not whining about it. 2018 I plan to rid myself of over $15,000.00 of debt and that’s by June of 2018. I got this!! I’m on the road to FI (Financial Independence). My ultimate goal is to create a life where my kids, and the generations to follow don’t have to struggle. I’m building the foundation to financial literacy. My plan is to retire by (preferably before) 60. Hmmm . . . 23 years or less. **Exhales** Baby steps for now, Tomika. I got this!! Come follow me on my journey as I aggressively tackle this burden called debt.

Debt: $1,862.21 Credit Card #1

$2,917.84 Credit Card #2

$11,120.68 Car Note = $15,900.73

I WILL ELIMINATE the above by JUNE 2018 . . . I GOT THIS!!

$71,572.00 Student Loans = My headache debt that I wish I NEVER acquired.

Next step is to increase my Emergency Fund to $15,000.00 (I’m giving myself a year to accomplish this . . . once again, I got this). Then I’ll start maxing out my TSP, 401K, investing in more Stocks and contributing more to my 4-year-old Custodial Account. I opted for a Custodial Account, as opposed to a 529 College Fund because my agenda isn’t pushing college upon my kids. If that is the route he chooses, fine . . . Besides from that, what If he achieves a full-ride, I refuse to be stuck paying a penalty for not using the money for college. Every one of my pennies count, I don’t want to waste a single penny if I don’t have to. College isn’t the only way to make a living and definitely not the route to achieving wealth. Especially not via going into debt, like myself. When we know better, we do better . . . I wish I knew what I know now; many, many moons ago.

I’ve definitely come a long ways, my headspace and perspective on money, debt and credit is totally different. It’s so amazing the amount of change a year can bring. Referring back to an older post, at the end of December 2016: 2017 New Year Goals  In relations to finances . . . I was headed in the right direction but wasn’t quite clear about the journey to achieving my financial desires. In-fact my thinking was on a much smaller level. I was more so concerned about credit, as opposed to becoming fininically free and independent. I’m sure I’ll learn and grow more as I start this new journey. It doesn’t matter where you start, as long as you start and FINISH.

2018: Becoming more financially stable than ever, and adjusting to my highest vision of myself – because deep down, that’s who I’ve been all along.

-Signed my Libra horoscope- ♎️

What’s on your 2018 agenda; any goals, resolutions, promises you’ve made to yourself, etc.? I hope you accomplish every single goal and MORE. You got this!!

Well, that’s all for now, good people. Here’s to an awesome New Year; to achieving wealth. Remember “things” don’t make you wealthy. Life is about so much more than acquiring “things” . . . Cars lose their value, clothes go out of style. What’s the point of having a $80,000.00 car, $600 car note and all you have is $200 in your savings account?! It’s bigger than “things” . . . Remember: It’s about creating financial stability for yourself and generations to follow.

It’s going to be a kick ass 2018!

Live, Love, Laugh and Debt Free

Sincerely, Mika XOXO 😉😘

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