Ex-Consumer

Do Work You Love

Jenny — Wed, 06 Feb 2013 14:30:49 +0000

Round and round and back again. It’s been a long time coming, but I finally feel that I’m in a place where I can choose work based on my interests rather than the income. I always dreamed of this place and thought it to be a distant fantasy rather than a reality for me.

Simplifying my life and finances has opened up the opportunity to do any kind of work I want. It’s been both liberating and overwhelming. Sometimes it’s easier to do something because you have to.

Having more options can be exhilarating. And terrifying.

When you’re forced to decide what your highest point of contribution is, work life becomes a bigger responsibility. Suddenly, your choices are not based solely on providing for yourself and your family. Now you’re free to decide what you love to do. And what you’re best at.

Freedom is a blessing and curse. But the positives outweigh the difficulties by a landslide.

What do you think?

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Found Money Staring Us in the Face

Jenny — Thu, 31 Jan 2013 14:27:01 +0000

I’m not sure why we waited so long, but Kirk and I finally refinanced our mortgage to secure a lower interest rate. We have been trying to figure out how to pay off our mortgage sooner, but we didn’t want to lower our retirement contributions to get there.

Refinancing our mortgage allowed us to reduce our interest rate by 1.375%. We went with a 30-year fixed rate loan again, however, we’ll be paying the same amount we were paying before refinancing – even though our new mortgage payment is lower.

Since we’re paying the same as we were before even though we now owe less each month, we’ll actually be paying an additional $220 towards the principle of our loan each month. This will shave nine years off the term of our loan – even if we never raise our overpayment.

So, by not paying anymore than we have been each month, we’ll get through our loan nine years earlier. Like I said earlier, I’m not sure what took us so long to refinance with low rates like these!

Found Money

Even though I thought we shaved every possible unneeded expense from our budget, I overlooked the enormous savings to be had by refinancing our mortgage to lock in a lower rate.

Sometimes it’s the most obvious things that need reevaluated in our budget. Maybe it took clearing out all of the smaller clutter from our budget before we could see the single biggest opportunity for savings.

How about you? Is there a major beast sneaking under the radar in your budget too?

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What Appeals to You Most When it Comes to Living with Less?

Jenny — Wed, 23 Jan 2013 14:35:22 +0000

Two weeks ago week I asked a simple question which received some terrific responses: What appeals to you most when it comes to living with less?

Below is a peek at what the Facebook community had to say:

And here are a few Twitter responses:

Many times we have simliar reasons for paring down. We want more freedom, security, meaning, peace and contentment. And sometimes hearing others’ perspectives helps us to solidify or alter our own ideas. Whether we agree with those around us, or simply enjoy hearing their views, having a community to share with is comforting.

And sometimes taking a moment to step back and remember why we’ve decided to live with less provides a renewed sense of dedication. It also helps to connect with others trying to achieve a simpler life. One effective way to do this is to connect with online communities that have similar goals. Having the support and inspiration from others swimming against the current of consumerism can be paramount to our long-term success.

I’m always thrilled to connect with you here, on Twitter (@exconsumer) or Facebook. Knowing there are others trying to muddle through life with a different set of goals than most is so encouraging.

More Inspiring Voices to Encourage and Motivate You

There are many minimalist/simple living voices and online communities that help keep me inspired, but the below four consistently lift me up. If you haven’t already checked them out, I would highly recommend the following:

Joshua Becker at Becoming Minimalist. Joshua’s Twitter feed (@joshua_becker) and Facebook page are both tremendously inspiring as well.
Courtney Carver at Be More with Less. Also check out Courtney’s Twitter feed (@bemorewithless) and her newly launched Facebook page for inspiration.
Robert Wall at Untitled Minimalism. Interact with Robert on his blog or on Twitter (@minimalblogger).
Jo Wright at Simply Being Mum. You can join Jo on Facebook and Twitter (@simplybeingmum) as well.

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Kiss Your Debt Goodbye: Three Steps to Debt Freedom

Jenny — Wed, 16 Jan 2013 14:30:45 +0000

Make this the year you tackle those lingering debts. Shedding the restriction and stress that debt evokes is well worth the effort. It may seem overwhelming, but you can break it down into manageable pieces.

Three Steps to Debt Freedom

1. Write down how much you owe.
Get a paper and pencil or spreadsheet together that simply lists out exactly how much you owe to each creditor and what your monthly payments are. This may take an entire month if you rely on bills showing up in your mailbox to tell you where to send your money, but it will be the most important step you’ll take. Knowing where you’re starting from gives you the leverage you’ll need to lunge forward.

2. Write down your monthly income.
This is a critical step to discovering if you have enough to stay afloat each month. If you discover that you’re sinking further in debt by paying out more than you bring in each month, don’t dispare. You can start shaving unnecessary expenses and generating extra income to try and close the gap.

For help organizing your monthly expenses and income, check out this free budgeting template.

3. Pick a debt to kill.
There are two schools of thought on how to select which order to pay down your debts. The first is to pay down the debt with the highest interest rate first. The second (and most psychologically motivating) option is to pay down the debt with the smallest balance first. Choosing the first option ensures you’ll pay less interest, but the second option helps you to maintain motivation by providing the thrill of eliminating some of your debts quickly. Choose whichever option feels right to you. You can always switch methods after you get started!

To determine how long it will take you to pay off a debt, check out this free amortization template.

Are you ready to change your future?

What would you do with your money if you weren’t sending so much of it to creditors each month? Would you save more for retirement, change careers, cut back the number of hours spent working or travel more?

Start today. It’s not as daunting as it seems, I promise. This time next year you’ll be so glad you got started now!

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What are Your Simplification and Money Goals for 2013?

Jenny — Fri, 11 Jan 2013 16:38:44 +0000

I’ve heard many people talking about how they don’t believe in New Year’s resolutions. Personally, I like to use the beginning of each new year to set a few goals. Doing this helps me to work toward aspirations that might otherwise feel overwhelming. Goals help me break down larger dreams into bitable chunks I can tackle with confidence.

This year I plan to work towards the following goals:

Remain consumer debt free.
Continue to simplify by selling or donating excess possessions.
Continue to contribute to our car savings until we have enough saved for Kirk to purchase his next car outright. Currently have $4,892 saved. Our goal is $20,000.
Raise the additional principal we pay on our mortgage each month. Currently only paying $20 additional per month. Our goal is to pay an additional $1,000 monthly.
Increase the amount we contribute to the kids’ college savings. Currently contributing $50 monthly. Our goal is $300 monthly.
Be more intentional and consistent with the message I hope to share at Ex-Consumer.
Explore the possibility of going back to work full-time.

What about you?

Earlier this week on Facebook I asked you what your simplification and/or money goals were for the coming year. The responses I received implied I’m not the only one that likes to set goals for the coming year.

There were some fantastic themes that emerged from your responses.

Build security
Reduce consumption
Save more money
Sell no longer wanted possessions
Be more present

It’s helpful to write down your intentions. Putting them in writing gives them substance. So whether you share your goals online or in a private notebook, I encourage you to make a quick list of your dreams and goals for this year.

Feel free to share your simplification and/or money goals here in the comments section as well!

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The Most Dreaded Clutter Purge

Jenny — Thu, 03 Jan 2013 19:37:59 +0000

I have a dirty little secret. There is a room in our home that escaped the rampage of purging and downsizing undertaken over the past two years. It’s a room with sentimental clutter, outdated files and memories of a past I wasn’t ready to let go.

The home office.

We’ve decided to turn the space into a media room for our two sons since we no longer use the room. Deciding to repurpose the space has meant that everything now occupying the space needs cleared out. Everything. Wow.

The extra bedroom we turned into a home office over a decade ago was/is a constant source of stress for me. There is just. So. Much. Stuff.

Two large desks, a book case, memorabilia, two large filing cabinets and a closet full of I-don’t-know-what-to-do-with-these things. I used the office in my prior (non-minimalist) life. As I tackle the space now, it’s both overwhelming and irritating. I can’t stop wondering how I accumulated all of this excess.

I mean, did I really need to keep every single college syllabus for every college course I took? Do I need every grade school yearbook? When exactly was I planning to wear my high school and college caps and gowns? If I’m not wearing a coat anymore, why is it hanging in the office closet? Do I plan to wear my wedding dress again? And why, oh why, did I keep so many bank statements, pay stubs and owners manuals?

You get the point.

These are the questions I asked myself as I spent the holidays sorting through the piles and piles of things I need to get rid of. Bags of papers need shredded, valuables, desks and filing cabinets need sold and clothes and coats have been donated.

The below photos were taken after two solid days of sorting and purging. I wish I would have taken some photos at the beginning, but I didn’t. You’ll just have to use your imagination.

The executive desk, chair and book shelf.

The second desk, lateral filing cabinet and miscellaneous files.

The mostly emptied closet — aside from the enormous jewelry box and vertical filing cabinet I need to sell. We plan to make this space into our new tiny office.

Six large grocery bags full of papers I need to have shredded.

As I go through the process of purging, I am reminded of why I choose to live without excess wherever possible. Sure, we can ignore the overload of stuff for awhile. But eventually, we have to deal with it.

We may move, or need the space for another purpose. Or we may just get sick of the attention the life-sucking clutter pulls from us. No matter the reason, the excess will have to be dealt with at some point. If not by us, then by whoever has the misfortune to handle our estate when we’re gone.

Is there a space you’ve been procrastinating clearing out? If so, what holds you back?

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Who are the Joneses in Your Life?

Jenny — Tue, 18 Dec 2012 16:13:48 +0000

We’ve all heard the idiom “keeping up with the Joneses.” But who is this person, family or group we’re measuring our lives against? Odds are, my “Joneses” are different than yours.

The Joneses in your life can be any person, family or group that you compare your life against.

Most likely, the Joneses you choose to compare yourself with have more of something you feel you’re lacking. In fact, you may not have given something a second thought until you saw that Sally Jones had the very job, car, vacation, education, etc. you never knew you always wanted.

Suddenly you feel less than. If only you could have that job, car, vacation, education, etc. that Sally has. Then you would finally be happy. Or not.

Comparing our lives to others is natural. The problem comes when we start yearning for what others have rather than being content with our own lives.

There is nothing wrong with striving for more of what we want out of life, but chasing material goods at the expense of our financial health and freedom is not a good idea.

And what about when we compare our lives to the lives of those on tv? The unrealistic inflated lifestyles showcased on most tv programs is not the measuring stick with which we should be assessing our own lives. But oftentimes, we unknowingly desire the unobtainable lifestyles that we see in movies or on tv.

What might the Joneses in your life have that you want?

Depending on many factors including your age, occupation, marital status and location, the Joneses in your life may have the following things you seek:

A nicer house, condo or apartment.
A high-paying, impressive career.
A newer, faster or more expensive car.
Trendy clothes, professional manicures and pedicures and professionally highlighted hair.
A maid or lawn service.
A gorgeous wife, girlfriend, husband or boyfriend.
Smart, athletic, charming and accomplished kids.
Exotic vacations.
The latest smartphone, computer, tablet and other technology-related devices.

All of this comparing and keeping up can throw us into a never ending spiral of debt and unhappiness. We’ve all experienced the thrill of purchasing a much desired item only to feel disillusioned when the buzz wore off and we were left with the soon-to-be previous model of XYZ.

And let’s not forget that some things about people’s lives aren’t so obvious.

There are things about the Joneses we can’t see. Things like:

Retirement savings.
Debt balances.
The stress of keeping up appearances that may go on behind closed doors.

It’s easy to assume we know about a person or family’s financial situation by what we perceive to be an outward display of wealth. The truth is, 99% of the time, the outward displays we see are backed by a fat debt balance.

Keeping up appearances likely comes at the expense of the Joneses’ future income, happiness and security. And when we try to keep up, we make those same sacrifices.

That’s a pretty steep price to pay just to impress people we don’t even know that well. After all, anyone really close to us would love us regardless of what we drive, right? So, why sacrifice our futures for the favorable opinions of strangers and acquaintances?

It seems a little silly, doesn’t it?

Life can be different. Starting Today.

Let today be the day you stop looking outward at what the Joneses are buying. Who cares what they’re doing?

Let today be the day you make a plan to rid yourself of the restrictive debt that prevents you from living a life of freedom.

Turn off the tv. Avoid the mall. Spend your time and attention on the people in your life that matter. Let the Joneses dig themselves deeper into debt as dig your way out of debt and discover what makes YOU happy.

If you do this, I promise, your life will be far more fulfilling and meaningful than any fleeting attempt at making an impression.

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Thankful for A Perfectly Flawed Life

Jenny — Wed, 21 Nov 2012 18:22:11 +0000

I’ve never been a fan of white clothes. Not only do they lose their brilliance after several washes in our hard water, but wearing a crisp white shirt always makes me uneasy. White is unforgiving. Unrelenting even.

Like my clothes, I prefer a life enveloped in more forgiving shades of grey as well. It’s better to allow for some lenience as we blaze through our life journey.

Circumstances and people disappoint me far less often when I lower my expectations, practice unconditional acceptance and remain tolerant of differing perspectives and opinions. Expecting perfection will always lead to an illusion of lack.

This Thanksgiving I’m finding myself grateful for all the imperfections my life reflects back at me. Because despite the many flaws, I can see the growth and positive changes that have emerged despite the smudges and smears I’ve faced along the way.

I’m grateful for many, many things, but the following are a few that immediately come to mind:

Having all of my basic needs met, every day.
Being provided the privilege of an education.
Being part of a loving and supportive family.
Living in a country where I’m free to have opinions AND express them freely.
Having time for reflection.
Knowing I can change paths whenever I choose.

This Thanksgiving I hope you have the opportunity to take a moment and observe the blessings in your life. Your life doesn’t have to be flawless to be positively perfect.

And in case it doesn’t go without saying, black Friday is not part of the Thanksgiving holiday. I plan to opt out of purchasing anything the day after Thanksgiving like always. Instead, I’ll be enjoying leftovers and time with my family. We might even put up the Christmas tree and watch “Elf.”

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How Will You Vote?

Jenny — Mon, 05 Nov 2012 14:51:55 +0000

There are more than two choices for the upcoming presidential election.

Most of us won’t even see the names of the other candidates until we go to cast our vote tomorrow. Unfortunately, only the two political parties with the most campaign funding typically make it into most American’s decision-making process.

Who do you think is funding those campaigns?

I have never associated with a certain political party and tend to base my voting decisions on the candidates running at any given election. But I’m always upset at how if we rely solely on the media and campaign advertisements to make a voting decision, there are really only two choices.

According to an article published in August in The New York Times, “This is the first presidential election since the Supreme Court’s decision in the Citizens United case removed the last barriers to campaign spending by corporations and other groups. Analysts are bracing for a tidal wave of money from rich individuals, companies and labor unions that could alter the political landscape and transform American democracy.”

So, we are really only presented with two presidential candidates based on their extraneous marketing budgets and the crafty positioning used to win certain segments of the population’s votes.

I would never suggest how you should vote. But I hope you’ll look into the other — less celebritized — presidential candidates running for office. They may better represent what’s important to you.

And I hope you do exercise your right to vote. Even if you feel that your voice doesn’t matter. If we give up, our voices will be gone all together.

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Step back. Reflect. Repeat.

Jenny — Thu, 11 Oct 2012 15:01:59 +0000

The past few months have been a time of retreat and introspection for me. Periodically, I like to step back from my life and process my current circumstances. Occasionally these periods of reflection lead to great changes. This time, however, I’m quite happy with the way things are.

Since eliminating our consumer debt in August of 2011, Kirk and I have more flexibility in our working lives. I’m able to choose projects I want to work on and Kirk can choose work that’s a good fit for him. We don’t have to force ourselves into unsavory work or projects to pay creditors.

It’s a freeing feeling.

I now have the opportunity to spend more quality time with my kids and have even been reading quite a few books for pleasure. Getting a homemade dinner on the table is rarely a problem and we’ve been enjoying more downtime together as a family.

At first, I thought I would want to travel extensively with our newfound freedom. What I’ve found is we’re pretty content with our little laid back lives here. We still enjoy a family trip in the summer, but extensive travel seems to have lost some of its appeal.

Perhaps that means I don’t feel the need to escape from my life anymore?

There have been simple pleasures to relish instead. Like the bike path that was extended near our home. We discovered it by accident while on a family walk a couple of weeks ago. What a delightful surprise to find a beautiful, winding path nestled in the magnificent fall foliage.

It’s appreciation of the small and unexpected blessings in my life that have dominated my attention lately.

Did they just show up? Doubtful. I was just too wrapped up in earning-spending-accumulating-regretting that I didn’t pay attention to the small joys in my life. These days, I find myself much more mindful of all that I have to be grateful for.

If you’re hoping to free yourself from consumer debt, too many commitments, or any other life-sucking predicaments, start today. Do something small each day to break off a small piece of what keeps you stuck.

Nothing great happens overnight. But small steps in the right direction — over a period of time — will lead you to the place you wish to find yourself.

Don’t wait another day.

Life keeps moving whether you’re working toward freedom, or burying yourself deeper into some form of slavery. Choose the former.

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