Day 3 of NCN’s 33 Ways To Save Money And Reduce Debt is about “sacrific[ing] some of the things that you have, some of the things you like to do, some of the places you like to go, and some of the conveniences that you’ve been using – so that you can get out of debt and focus on improving your financial future.” He asked what his readers have been willing to sacrifice and what they have refused to give up in order to get out of debt.
I’ve never thought of our financial choices in terms of sacrifice – instead, they are just that: choices. Our debt is in the form of student loans, a car payment with an extremely low interest rate, and our mortgage. Instead of paying off those debts completely, we have chosen to build our emergency fund, save for retirement, and save for our children’s education. We do, however, pay (significantly) more than the minimum on the student loans in an effort to pay it off quickly while still achieving our other financial goals. We live comfortably but not extravagantly, keeping our expenses in check so that we can save and pay off more.
I think it helps our perspective to think less in terms of sacrifice and more in terms of choice. We don’t feel deprived, we feel in control. And that makes a huge difference.