Prior to this loan repayment business I've been squirrling away money for yet another trip to Hawaii (July--woot!), shopping for more "grown up" professional clothes (possibly, blogs to follow on this adventure), and investing in my health in a preventative way. By this I mean purchasing primarily organic produce and meats, paying for gym and yoga studio memberships, and in general just investing in my body.
The truth is, though, that my student loan debt is the only debt I've had in my life. I paid for my undergrad--which was private--by working my ass off (30ish hours a week) and finishing a semester early. I'm from a family in which debt is unacceptable. I've never held a credit card balance for more than 2 months.
This business of "unacceptable" debt isn't a bad thing, it has kept my head in a responsible place. I've made good decisions. But it has the capacity for making me a little crazy.
Background: My great-grandmother was from Germany and had a general mistrust of the government and banks. She hid hundred dollar bills in her house--you could find them under couch cushions, between the mattresses, etc. My grandmother had a similar frugal attitude due to her experience of having nothing during the Great Depression. My mother is incredibly frugal and thrifty as a result of her upbringing and caring for a family ranging from 4-7 on one income.
And me? I occasionally get into a place where--often for no apparent reason--I begin a manic evaluation of every item in my home to decide what I might be able to sell on Craigslist. Anything can tip me in this direction...maybe hearing a financial piece on NPR, maybe hearing a friend talk about their difficulties with debt, maybe spending "too much" on a cardigan I've been coveting for months. Once I am in this place, I am not rational. My boyfriend jokes that during these times we need to "bolt the cat down," or make him (the cat) work the corner for his kibble.
My psychologist hat goes on for this issue, and I think, "How can I make sustainable change? How can I set goals for myself that are realistic, timely, and managable?" The answer for here/now......? The coffee culprit!!!
I spend at least $2.00 a day on coffee. At least. That is if I purchase one drip coffee per day. I often purchase two. On weekends, my boyfriend and I go out for a latte as our "special treat." Those range in cost from $4 - $6. If I ONLY drank one $2 coffee daily, this would come out to an expense of $730 per year. That number is conservative. I often purchase my boyfriend's coffee for him, or double up on drip on "hard days" at work. I would estimate that I spend in the range of $1,000 - $1,500 a year on coffee.
Before you get all judgy, I must explain...I have an emotional attachment, and possibly psychological & physical addiction, to coffee. I have been drinking it since I was 5 or so. I would sneak into the lap of adults at the card table and take sips of coffee while I learned pinnochile. This led me to be a card shark at a young age, and later, a neurotic adult with a love of coffee. As a teen I would pour a cup and chat with adults because it made me feel more grown up. As a college student I got a job in a coffeeshop to cut my expense. During my shift I got a free drink (QUAD Americano, Yeah!!) and any other time it was 1/2 price.
For Christmas I asked for a thermos to nip this in the bud. I am happy to report that I am on month 2 of not having purchased a single coffee on my own dime. I purchase drip & make it every morning. For Christmas my boyfriend & I recieved Starbucks gift cards that were >$60 in value, so we've been using those for our "special" treats on weekends.
On another front, I think that yoga has chilled out my autonomic nervous system and that my tolerance for caffeine is slipping. If I drink too much I can't sleep. This is new for me and I'm cool with it.
Just like any other task taken on, I believe that I'm at the point where this has become habitual. The savings might not seem monumental, but when you add them on to things like, oh, we are also no longer eating lunches out during the week (we literally ate out every. single. day...) it really adds up.
All in all, this is a pretty monumental success on both financial and presonal levels. I think my mom and grandma would be proud. Also, I think it is better than trying to sell the cat on craigslist.
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