Monthly Archives: May 2017

Life insurance is necessary

When we started working to pay off our consumer debt, we began by going through every single line item in our budget. The goal was to determine which expenses were truly value expenses in our life, and which were merely temporary, feel-good expenses that were hindering our ability to become debt free. 

Some of the items that we decided were no longer worth spending our money on (in terms of a greater goal) were:

  • cable TV
  • magazine subscriptions
  • dance lessons for the girls
  • eating out at restaurants
  • trips to the beauty salon
  • weekly dates with the kids to local restaurants

The cost of these things was really adding up, and that was evident by our continuously rising credit card debt. When we finally opened up our eyes to our dwindling net worth, we decided that it was time to discover what we truly valued in life and what we didn’t. The money we were spending on things that weren’t a true value to our lives then were redirected to more important stuff, like paying off debt.