In my last article, I wrote about creating a little momentum for your finances and your life. I mentioned things like getting some small wins under your belt to get the positivity flowing. Also in that post, I pointed out: thoughts and words mean nothing without action.
Since we like to practice what we preach around here, we took action. After all, I would hate for our readers to think we are some hypocritical blowhards! Here’s 3 Steps how you can put some actions behind your thoughts:
1. Putting Money Where Our Mouths Are
You may remember that we purchased a different vehicle a few months ago. While we traded in our previous ride and put some cash down, there was still a remaining sum that we took a low interest loan out for.
We could have paid the whole thing off at the time, but I had envisioned in my mind that we would pay it off in two larger payments vs one. Yes, we paid a little bit of interest but I wanted to build up the reserves for a few months before wiping out the balance of the loan.
Today was the day to settle up and eradicate the car loan!
So as good as it feels to be done with this loan, and it does feel good, there is the realization again of putting a nice chunk of change on a depreciating asset.
Since the weather doesn’t f*** around here, I can justify having an updated, safe, and reliable vehicle to tote the family around. We’ve received our fair share of snow and nasal hair freezing wind chills this winter. Unfortunately this is pretty common for our neck of the woods. When frostbite can set in after only 10-15 minutes, you don’t want to be sitting on the side of the road.
It will be nice having that additional cash flow back again every month now. Even though we only had the loan for 6-7 months, I got annoyed keying that monthly amount in the budget spreadsheet. It certainly didn’t help to widen the gap between income and expenses.
2. Additional Action Items On The Horizon
Now that we’ve taken care of that pesky bit of business, we can take action on other financial items to keep the momentum going.
We consistently plow money into our retirement accounts, sky high market be damned. Also, I want to focus in on the brokerage account and add to the passive income producing stocks.
Since we have four years of commission free trades since switching from Scottrade to Charles Schwab, now is the time to make some selective purchases. I have been reinvesting dividends but haven’t added fresh capital for a little while now.
And speaking of feel good momentum builders, it is almost time to start looking into a vacation getaway! Last year, we spent a week in beautiful Clearwater Beach, FL. While I would certainly return and love it, I’d really like to check out Arizona; Mrs. DS keeps looking up reality in those southern border states. (What is she up to now??!!!)
I haven’t been to Arizona since I was a very small kid so I don’t remember a thing about it. Just like in Florida, we could check out some spring training baseball and also hit up the main attractions. I believe we can score some cheap airline tickets to the Phoenix/Mesa area which is an added bonus. We will have to do some homework first before making up our minds. If anyone has any recommendations, let us know in the comments!
Honestly anywhere that is warm sounds pretty damn good right now.
3. Stop Wasting Time, Take Action On Your Goals!
You can think, plan, and analyze for hours on end. All of that means nothing until you take action and execute. I sat around and thought about the perfect time to pay the aforementioned loan off. Finally I just said f*** it and picked up the phone, got the pay off amount and wrote the check.
There really is no perfect time for most things to happen. Either you make it happen or you don’t. If you wait for it, time will continue to go by while you kick the can down the road. And since time is our most precious resource, I recommend that you don’t squander it.
Each day is an opportunity to learn, to improve, and to love. Make the most of it.