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If you were one of those who used to spend money willy-nilly, how long after deciding to pay down your debts did it take for you to change your attitude?

Great question, Shirehobbit. I too found myself rebelling against paying down debt--esp. when it seemed to take soooo long to actually pay the dang thing down (30K to go; two years scheduled).

Early on, what worked for me was to designate a set amount out of the "rebate/return" monies for my own pleasure spending. The amount fluctuated with how much the return was and how I was feeling, but it usually worked out to 10% or 25$ (I just couldn't justify 10% of a 7K tax return that one The significant bulk of the money goes for financial goals--esp debt repayment, but I have also designated money for home repair, unreimbursed business trips, computer equipment, efund, etc.

There is an "L" in LBYMs.

Nowadays, what usually happens with "return/rebate" monies is that I pre-spend it in my head: 20% for X goal, 25% for Y goal, etc etc. Usually included in that is a sushi dinner out or a new pair of sneakers or something not very expensive that satisfies the "buy-me, indulge me" voice. If the amount is small, it actually becomes easier to just dump the whole thing into debt repayment than to figure out what I want to spend my 10% of 15.00. I mean, please.

I have found that it gets easier to turn down that voice the longer you go. But for awhile, I would think about what it would take to indulge it without sabatoging your debt repayment goal.

The most important part for me is that I have *designated* money. If/when I get a chuck of money (in my house anything over 50 bucks), I need to know what I am doing with it. Otherwise it piddles away.


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