I’m restarting lean financial mode in my life because I need to be cautious with my money due to some new changes. These changes will require me to live off of my savings. Thus, I need to get back into the habit of not spending money.
Restarting Lean Financial Mode After A Six Month Break
I took a break from living frugally for the past six months because I started a new job and moved cities to be closer with family. Because I have no debt and didn’t have to pay bills at my temporary living arrangement I relaxed my spending. Now I didn’t go crazy like buying a bunch of electronics and taking trips. Instead, I bought items from the grocery store if I wanted them, no matter if they weren’t on sale. And I shopped without a defined plan, leading me into more impulse shopping. On top of that I spent money on my family members as a way to repay them for allowing me to stay in their home until I bought a new one.
I will say it’s nice to spend my money this way. However, this type of spending can lead to a problem if I’m not careful. I knew I wouldn’t keep my day-job for long and I wouldn’t have a steady paycheck I could spend without issue.
Why I’m Restarting Lean Financial Mode
The major reason I’m restarting lean financial mode is that I’m under contract for a house! After two months of searching and getting outbid I finally found a seller who accepted my offer. I had an inspection done and thankfully the house doesn’t have any major issues. It is an older home and does need some repair, however. Mainly the HVAC unit outside needs servicing and the roof will need replacement soon. Oh, and there’s a tree I need to cut down. Yet, those things don’t bother me because I knew buying an older home will require repair. Thankfully, I made a nice profit from selling my last home so I have the money to pay for repairs and needed renovations.
On top of that, I will quit my day-job since I don’t need it anymore. The only reason I got it was to get a mortgage because I didn’t have two years of self-employment income to show. Plus, I want to work for myself and use my time wisely. Working my day-job showed me how tedious an eight-hour shift truly is. Because I won’t have my regular paycheck anymore I will have to live off of my savings until I get my businesses to bring in more money. Thus, I need to get back into the habit of not spending money.
How I Will Do This
How I’m restarting financial mode is writing up my fixed expenses and using a budget for my variable expenses. I will have two family members living with me and they will help pay for utilities and other costs of living in the house. Yet, I still have to be careful about using my money wisely. Which means shopping the sales again, and checking out the thrift stores for goods before buying new.