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Old 10-10-2019, 06:52 PM
Xiph0id Xiph0id is offline
Join Date: Jun 2010
Location: Leduc
Posts: 1,639
Default My summer of money

In the 2008 downtown, I switched employers and kept making good money.
Each year adding more debt to my household.
Life was good money came in and went out.

2016, Started at a new company with what looked like lots of upside.
In 2017 when the next downturn hit, I took a 40% pay cut.
Bills started to pile up and it was stressful.

As most people, we were quick to spend with added income but not to cut with my pay cut.

2018 was the year of paying off bills and closing out debt.
Both vehicles paid off, 3 CC's payed down and all we have left is our mortgage and associated housing bills.

April of 2019 I was layed off. After finally paying off a bunch of bills and cutting our monthly expenses by almost 3k per month, I decided to take the summer off.

Being worry and mostly debt free I have been so happy.
Also, I've can buy way more hunting things now!

If you can do this, you'll be so happy!

Now, off to solo hunt for 4 days.
Work, psh, later.
I need to catch some deer!
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Old 10-10-2019, 07:23 PM
GeoTrekr GeoTrekr is offline
Join Date: Dec 2007
Location: Calgary, AB
Posts: 595

Good for you! You can always make or lose money, but you can only lose time. Glad you're enjoying and making the best of it.
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Old 10-10-2019, 08:06 PM
Red Bullets's Avatar
Red Bullets Red Bullets is online now
Join Date: Oct 2010
Location: central Alberta
Posts: 11,315

Isn't it interesting that although you have great relief from past overhead finances that you will probably find the most excitement, serenity and elation from your time on your solo hunt away from all of it. Ironic.

He is richest who is content with the least, for content is the wealth of nature. Socrates
Barrack Obama once said, "Focusing your life solely on making a buck shows a certain poverty of ambition. It asks too little of yourself."
= = = = = = = = = = = = = = = = = = = = = = =
whisper when you argue or talk. It makes the other person actually have to listen.

It is when you walk alone in nature that you discover your strengths and weaknesses. ~ Red Bullets
Standing in nature's splendor reminds me of the importance of being insignificant.~ Red Bullets
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Old 10-10-2019, 10:04 PM
jstubbs jstubbs is offline
Join Date: May 2016
Location: Parkland County
Posts: 1,584

Props to you man. Not many able to pull themselves outta debt like that when money gets tight. Debt scares the hell out of me. I live by a motto that anything I cannot afford to outright buy, I should not buy (with few exceptions of course, such as housing/land).

Never financed a vehicle in my lifeóI look hard and buy good deals on used vehicles. When I wanted a sled, I saved up and spent a ton of time looking for a real good deal and picked one up for $3k. Travel trailer? Bought a cheap one that worked perfect for me. Same with my gooseneck. Credit cards? I keep my limit very low and only use it for gas and certain purchases. Now I want a skid steer for the winter. Going to sell a few things, get some cash back, and look on Kijiji/FB marketplace/other sites everyday for a good price on one and Iíll buy it with cash when the time presents itself.

I donít know. Hate to sound like I am bragging and Iím a young guy with no wife or kids (I know theyíre real expensive) still so maybe I donít get the whole ďkeeping up with the JonesesĒ thing yet. But never cared for it. Why do I give a damn about what others have and what they think of what I have? None of my business nor is mine theirís. Mortgage is the only payments I plan to be a slave to. Keeps life simple!!
In search of a clean 90's Dodge Cummins diesel.... will pay finder fee!
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Old 10-10-2019, 10:33 PM
bossmansteve bossmansteve is offline
Join Date: Sep 2019
Posts: 78

Sounds like you are probably on EI after being laid off. Good time to take a break and enjoy life!
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Old 10-11-2019, 02:35 AM
Redneck 7 Redneck 7 is offline
Join Date: Feb 2014
Location: The best place on earth.
Posts: 1,308

Great work man! Enjoy the simple life, Iím on my way there right now. Just a little more debt to go for me. Iím 28 years old, have my own property I bought at 25 and over the last 3 years racked up an ugly credit card and line of credit. Started this shutdown and Iíve been home a total of 2 days in the last 7 weeks. Iíve crushed my credit card and have my line of credit being paid off in large sums now.

Debt really is a burden and once mine is gone, Iím gonna just enjoy my life with my wife and enjoy the cabin weíll live in full time. My mortgage is very very reasonable, I just need to stay smart about it all.
Lifeís a garden, Dig it! - Joe Dirt
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Old 10-11-2019, 09:38 AM
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Grizzly Adams Grizzly Adams is offline
Join Date: May 2007
Location: Central Alberta
Posts: 20,245

Some of us came to that realization decades ago and have lived accordingly. Remember that bumper sticker, Dear Lord Please give us another Oil Boom ?

"Indeed, no human being has yet lived under conditions which, considering the prevailing climates of the past, can be regarded as normal."
John E. Pfeiffer The Emergence of Man
written in 1969
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Old 10-11-2019, 11:04 AM
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Ken07AOVette Ken07AOVette is offline
Join Date: Dec 2008
Location: Alberta
Posts: 21,870

Good for you, keeping it under control is tough.

I started work for a Billion dollar company in 2007, the best money I ever made was for them. I immediately told my bank to double my mortgage payments, then take them out 2x per month rather than once, so paid 4x my monthly payment. 4 days short of a year later 270 of us were laid off on the same day. When I got home my own business phone rang and didn't stop for about 7 years, it was a boom. I became completely debt free in 2014. I bought a 2016 F150 at 0% interest on Employee pricing day with a good trade in, and that is all I owe in the world now.

I do much the same as Jstubbs, for the most part if I want something I sell something else.

Just remember the words of sparkly socks in the big chair, "it will all work itself out' lol
Tubtoy (Boat) is getting a new engine, so now selling drones, tools, cameras, tires rims and more

Only dead fish go with the flow. The rest use their brains in life. (author unknown)

Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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Old 10-11-2019, 11:27 AM
NewGuard84 NewGuard84 is offline
Join Date: Feb 2013
Location: Edmonton
Posts: 575

We live in a society where we are bombarded by suggestions of the financial situation we "ought" to have: well heeled and ready to spend.

It is not unintentional and the businesses where we spend money benefit greatly, including banks which are happy to lend, lend, lend....

This is a great reminder of the value of breaking out of the cage of being an overextended consumer, chasing the other overextended "Jones".

It leaves much more time for enjoying things that really matter.
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Old 10-11-2019, 12:08 PM
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lmtada lmtada is offline
Join Date: Feb 2008
Posts: 2,333

Congrats on Debt Free. Yahoo.........like Oilers fans winning a trade against Flames fans .
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Old 10-12-2019, 07:35 AM
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58thecat 58thecat is offline
Join Date: Dec 2012
Location: At the end of the Thirsty Beaver Trail, Pinsky lake, Alberta.
Posts: 17,370

Some should pay attention.

Be careful when you follow the masses, sometimes the "M" is silent...
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Old 10-12-2019, 08:15 AM
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omega50 omega50 is offline
Join Date: Dec 2009
Location: Calgary SW
Posts: 8,106

Being a slave to things gets old when the bubble bursts.
But having quality things that truly bring you joy and let you do the things that mean something makes sense to me.

About 5 years ago it seemed every time one of our five adult children came over they would make some stupid comment about calling dibs on some item or another that they wanted to inherit when we die.

So , I sold all that stuff.

When they noticed that stuff was gone, they got upset.

Told them their greed was not my cross to bear.
Everybody, soon or late will sit down to a banquet of consequences
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Old 10-12-2019, 10:50 AM
amosfella amosfella is online now
Join Date: May 2013
Posts: 2,287

Sounds like you might have done the Dave Ramsey course.
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Old 10-12-2019, 12:06 PM
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omega50 omega50 is offline
Join Date: Dec 2009
Location: Calgary SW
Posts: 8,106

Originally Posted by amosfella View Post
Sounds like you might have done the Dave Ramsey course.
Nope. Never heard of him, but I just looked him up after you mentioned the name.Interesting stuff though.
Everybody, soon or late will sit down to a banquet of consequences
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Old 10-12-2019, 01:15 PM
Immigrant's Avatar
Immigrant Immigrant is offline
Join Date: Dec 2014
Posts: 705

Originally Posted by Xiph0id View Post
Being worry and mostly debt free I have been so happy.
I am debt free, but being prepared for my retirement in 17 years is worrying and keeping me up at night.
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Old 10-12-2019, 09:56 PM
Treefarmer Treefarmer is offline
Join Date: Jan 2008
Location: Half an hour west of Leduc, 10 minutes south of Genesee Power.
Posts: 92

Cut expenses by 3K/month.
Chuckle. That would leave me with negative expenses. I only *make* 30K/year currently. (Tree farming is not terribly lucrative.)

All CC's are paid off every month. We grocery shop once a month, and buy everything. Saves trips to town. House is paid for. We pay up front for vehicles.

My grandmother said, "Saving money is easy. Just don't spend it."
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Old 10-12-2019, 10:56 PM
longshot270 longshot270 is offline
Join Date: Oct 2008
Posts: 304

It would be great if the OP could give examples of the spending cuts. 3K is a pile of money to save/not spend.
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