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Well, it’s here. 2018 has finally come and is in full swing.
I anticipate this year to be one of the most important financial years for us. Why? Because it should be the year that we become debt free. Finally. After six+ years of working towards that goal, I think this year is the year we will actually get it accomplished.
Yes, we’re in the final stretch.
I am ready for our income to work (almost) entirely in building opportunities for the future rather than being obligated to the past. Having no debt payments (other than our mortgage) allows for us to do exactly what we want with our full income, not just the part that is left over after paying for decisions made weeks, months, even years ago.
STOP.
I started writing that in January…
I just never finished it. It’s now July. And, boy-oh-boy, have things changed! So, let’s start over, shall we?
2018 Financial Changes
I quit my job last month.
That’s still something that is weird for me to comprehend. I quit my good, stable, full-time job; walking away from a solid income and the only obvious “payoff” to the cost of my private-education-sized degree. And I did it before our original plan was complete. Shoot, I did it even before we were debt free. We’re still paying on my student loan.
Woah.
If I dwell too much on the in-your-face, physical world aspects of this decision, I panic. The responsible part of me starts screaming bloody murder and trying to figure out how to “fix” this ridiculous decision or, at the very least, how to mitigate its repercussions. e.
I feel like Kevin in the Home Alone scene where he realizes he’s a criminal after inadvertently stealing a toothbrush.
Only, for me, it’s not that I’m a criminal.
I’m a hypocrite.
I mean, seriously. Didn’t I write about how you need to be debt free and have a fully funded emergency fund in place before even considering leaving full-time employment?
Yep, I sure did.
And here I am, walking away from the job before either of those are in place.
What changed
As you can imagine, this wasn’t a decision that was made lightly nor very quickly. In fact, we’ve been working toward me leaving the 8-5 life for at least a year. And, originally, we were thinking I would leave in another year or so.
But, remember how I said that I’d not really been inviting the Lord into this whole thing but had recently started doing so? Well, I kept praying. Scott kept praying. And, in April, we felt like the Lord not only confirmed that I leave 8-5 but, surprisingly, was even inviting me to do that now. It threw us for a loop and we had to work the natural implications of making that decision, but we eventually made the decision to step to follow His lead and step out in faith.
I submitted my resignation on May 10th. And my last official day of full-time employment was June 29th.
The financial impact
Naturally, this changes our finances. Dramatically. In fact, it cuts our household income in half. And, as of this posting, there is no other viable source of income for me. We’re living on Scott’s income alone.
As such, our 2018 financial goals have changed. We are now no longer expecting to be debt-free by the end of the year. And that…well, that is hard.
In January, I knew. I just knew this was going to be the year. We were on track. We were throwing the debt snowball each month. We’ve been on the debt free journey since we got married and it seemed as if our debt free date was finally within reach! We were finally going to get it all paid off and be able to decide exactly what to do with our income!
And then it changed. I don’t know when we’ll be debt free but I know it will happen one day. Scott and I are praying into this and asking for the Lord’s guidance, even boldly asking for Him to miraculously wipe it out, and waiting to see what unfolds.
New 2018 financial goal
In full transparency, the monthly math does not work out for us to be a single income household so the primary goal right now is just to make it month-to-month. Budgeting is even more important and we’re so grateful to have a tool like YNAB* to help us budget successfully. I’m thinking, praying and working on a couple of self-employment options. We’re cutting expenses and making adjustments but we’re still just shy of being solvent each month.
…on paper.
But, here’s the thing, We serve a God who does not work “on paper.” He works in mysterious ways and He, we believe, has called us into this season at this time. And, therefore, He will provide for this season. However long the season lasts and through whatever challenges the season brings, our God will provide. We believe that.
We have to believe that.
Otherwise, fear will win and I’ll go back to doing what I do best. Striving to “make it happen” (whatever “it” is) instead of trusting that it will. That doesn’t mean I don’t have work to do or that I can just sit on my bum and wait for God to provide financially. But it does mean that, as we seek His guidance and follow His leading, we should trust that He will provide financially.
How about you?
How’s your 2018 financial plan going?
What are you having to trust the Lord for?
*Disclosure: I’m a proud YNAB user and am a member of their referral program. All product claims or program details shared should be verified at youneedabudget.com. All opinions expressed are my own.