Full Days

Christmas is a mere one week away and if you are anything like me, you’re shocked to find how fast another year has passed. Where does the time go really? Taking a quick inventory of my time management informs me that I’ve spent the 8,760 hours that 2009 provided me with as follows (yes, I realize that ‘09 hasn’t ended yet so technically I haven’t finished off all my allotted “2009 hours” yet, so I’ll use my cell phone’s rollover hours from 2008 to make up the difference….just in case any of you reading this are number nerds like me):

• 263 weekdays (working about 250 of those) = 2,125 hours of work.
• Working 250 of those days = 300 hours sitting in traffic.
• My typical workday involves somewhere between 1-2 hours of phone time clients, tenants, and people wanting to sell me stuff I don’t want or need = 375 hours talking on the phone.
• Utilizing the 102 weekend days and 13 non-working weekdays = 115 full days to spend with my wife, two children, and a home that also begs maintenance attention.
• 115 full days = 600 or so hours wrestling with my son and dancing around the house with my daughter.
• 115 full days = 600 or so hours hanging out with my wife.
• 115 full days = 300 or so hours volunteering time at my church.
• And 2,555 hours sleeping in and attempt to repeat all of items listed above on a daily basis.

After reviewing the numbers above I realized a few things. I now know why my butt (traffic), my ear (phone), and my feet (dancing and wrestling) hurt as often as they do. However, of all the hours listed above the ones I’ll cherish the most when this year ends are the full days spent with my wife, my children, and serving at my church. I’ll never forget them and I can never get them back. My encouragement to you for this Christmas and New Year is to live a few more full days.

Alan & Dawn at the 2-Year Mark

It’s been two years, one month since Alan and Dawn decided a change was in order for their financial situation. They were living paycheck to paycheck despite having a nice income and they were tired of it. Tired enough to get motivated to make some tough changes. Tired enough to do what neighbors, friends, and co-workers were unwilling to do despite facing similar difficulties. Alan and Dawn changed their behaviors towards money and the results are amazing.

In May of 2007, Alan and Dawn had $131,000 in consumer debt  including a BMW ($22,200),  mini-van ($12,100), one credit card ($10,500), two student loans ($17,500 & $37,000), a personal loan ($28,000), and a handful of miscellaneous smaller debts ($3,700). In addition to the consumer debt they had $259,000 on a negative amortizing home-loan. Combined, Alan and Dawn had a pile of debt adding up to around $390,000. To tackle this debt they had a take-home pay of $5,200 when they started…..and then they got to work!

They “downsized” their expenses by selling their two vehicles for two much cheaper ones, cut the budget (and the credit card!) in every possible way, and stretched every penny as far as it could possibly go. Doing this dropped $17,000 off their total debt, and saved them thousands of dollars worth of interest. About six months into the process they decided to take the big step of selling their home and renting until they became debt free. Not only did they knock $259,000 worth of debt out, but it reduced their total financial risk and dealt with the terrible loan situation they were in. They ended up with monthly expenses (including minimums payments on debt) around $5,000, leaving about $100.00 each month to throw at the remaining debt.

Two years later Alan and Dawn are doing great. The once $390,000 pile of debt has been reduced down to $69,537 without having received any significant pay increase or bonus. Taking any extra money they could find from garage sales, gifts, or the odd job resulted in taking a nice size hit out of the debt. Only the two student loans (now $16,500 & $33,687) and the personal loan ($19,350) remain to be paid off, and at this rate they will meet their goal of  being debt free in less than 5-years!

What Alan and Dawn have accomplished in such a short amount of time is amazing to say the least, but it’s not impossible. It has taken them hard work and caused them to be intentional to the penny every month for two years. I’ve sat with them when it was tough and tears were rolling, and I’ve witnessed the multiple little victories along their journey. Most people living paycheck to paycheck would like to be free from the stress and limitations that situation creates, but few are actually willing to do what it takes to change the situation. It’s tough! Anything worth anything typically is. But it’s completely worth it if you will commit to it! I know Alan and Dawn are going to make their goal and I’m excited to see how their life flourishes in the future because of the decisions they are making today. Great job guys, keep up the great work! I’m so proud of you!!!