It is two years ago today that I became Totally Debt Free. It is a special day for me as it is one that was hard earned and was a long time coming.
Getting buried in debt did not happen overnight and neither did getting out of debt. I will say that getting into debt is much easier than getting out of debt.
The same can be said of any traps, that is why they are traps.
Last year, I was still trying to figure out how to deal with savings, as in how much to keep in each account and what to do with it.
I suppose that I still am and learning to not only stay debt free (which is a choice) is one thing, learning how to build savings and wealth is another.
That last part is what I am still learning how to do, and I don’t mind saying it, as life, and this journey in particular, requires you to be adaptive.
So, I am still changing and evolving what I am doing and how I do it so as to constantly improve.
I know, moving forward, that I need to diversify my savings and investments into a wide variety of vehicles.
Again, this is not something that I have had to deal with before, as I was eternally living one paycheque to another.
I see now that building savings is not as simple as stuffing cash in the bank, that I have to do more with it than that.
So, having a nice counter on my wall is one thing, but it is impractical when you have a variety of investments that all vary in value at various points in time.
I have a time frame (summer 2024 to perhaps summer 2025) yet my goal is to build my savings up to the point where I will feel comfortable moving on to the next phase of my journey: The Homesteading Phase.
I still have my plan: To own land and a house, and perhaps start that town, or perhaps simply a large house where people are welcome
That dream, like most of my life, is an ever-evolving one. The one thing that is constant is my desire to have land, a home, a family and do so with no debt.
I am still going to get back to my high water mark of my savings before the end of the year, next year, I will focus on building and diversifying my savings.
Which is and will be a complicated matter to say the least.
As always: Keep your head up, your attitude positive, and keep moving forward!