Money stop wasting it

While changing my mindset from consumer robot to minimalist conservative, I have had to take a long hard look at my finances and how I spend the money I earn.
If I'm to achieve my goal of being debt free in 5 years.
In order to help me achieve this, I have set out a few rules to assist me with making the right choices.

Simple Rules I try to live by.

1. If it is not on the budget it does not get spent.
2. Don't buy another thing on credit.
3. Save for what you want rather than use credit.
4. Savings are for those emergencies we cant predict or to pay off debt
5. Experiences are important for the family as life is for living not consuming.

By following these rules I find I don't want to spend money on the things I don't really need, especially now I have to save for them. I end up thinking longer before buy that must have gadget I want, but I tend to ask myself is it going to bring me happiness, am I going to use it once or is it going to enrich my life? Then I ask is worth reducing my saving for? More often than not it is not worth it and I just don't buy it.

I use an excel spreadsheet to create my budget now I don't claim to be a genius on excel but  I have managed to create a budget that I'm able segregate my expenditure into the following categories

• Living expenses
• Luxury and unplanned expenditure
• Shop debt
• Savings
• Experiences

I use a pie chart at the end of every month to see where my money is going. By dividing it up the expenditures into percentages, I have been able to set my first goal. Which is on a base lie month to live on 50% of my wage and save 25% and spend the other 25% on experiences. but right now I'm still paying for my failed business. Which is a whole other story which I happily share with my audience "the day my life changed" & "how my business failed" two related posts you might find interesting.

By constantly reviewing and adjusting your model, you can see I'm always trying to reduce my living expenditure, luxury purchases and debt. I can speed up or slow down your progress as long as it complies with the rules you set yourself. I'm focused on paying off my debt but if I have a good month I make sure I do something with my family to remind them life is good and having things are not the memories that make a difference in your life.

I keep a goals sheet where I track all my saving and debt. This allow me to plot the day I become debt free,at the current trajectory May 2024. On that day a month after my 42nd birthday, I will have no mortgage, no car loans, no unsecured loans and no credit cards.

With my targeted base line above I will be able to live on half my wage, which means I could pursue a new career, or just work less. Right now I'm working on that blog "ambitions for the future" which I'm finding interesting as I'm trying to figure out what will make me happy.

 They say life begins at 40 for me that is becoming a reality every day I get closer to a uncorrupted life.