Hello from a former shopping addict

[Jocie]

Hi there! Been lurking on this sub for a couple of days and wanted to introduce myself. I am Jocie and I live in the Midwest with my DH and our three dogs. We are 33/34 respectively. I work in marketing and he is in electrical engineering. :)

A little background: We spent our twenties accumulating material things we didn't need/couldn't afford and it took years to pay off ~$40,000 of credit card debt. The urge (for me) to shop is still there.. like a dormant volcano, but the lessons we learned along the way have led to an almost debt free life (still have a mortgage) and a positive outlook.

As for why I'm here, I'm trying to adopt a slower, more frugal style of living, which I hope will improve my life fulfillment. Goal #2 is to pay off our mortgage in 8.5 years.

Thanks for having me.

[sweetana3]

Welcome. In various ways, most of us have been there. We are now in our late 60s and getting rid of most of the things we thought we had to have earlier in life. Paying off the mortgage is incredibly freeing emotionally.

[catherine]

Welcome, Jocie! We are a very diverse group in many ways, but we are all here because of our desire for simplicity in our lives, in whatever way we define the simple life. You may or may not know that this group was originally founded over 20 years ago on the principles of the book Your Money or Your Life by Joe Dominguez and Vicki Robin. The book was updated by Vicki in the 2000s--if you haven't read it yet, it might help you navigate those purchasing decisions.

https://www.amazon.com/dp/B0052MD8VO/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

[Teacher Terry]

The book is really eye opening. Many people spend their lives accumulating junk just to get rid of it in their later years. You can include me in that group:)). Welcome!!

[pinkytoe]

DD is only a few years older than the OP and she and her husband seem to be in that prime of life acquisition stage. Big fancy house, two large SUVs. Every day packages from Amazon. If they want something, they buy it. I can only watch from the sidelines but I hope they are saving some $$ too. I recall being in my thirties where getting old or planning seemed like a very far-away abstract concept. I still get the shopping urge but now I apply it to groceries and garden stuff rather than clothes/shoes/eating out like when I worked.

[sweetana3]

I second that book. It is older but the general concepts still have resonance. I used to buy used copies and hand them out.

[ApatheticNoMore]

I started with simple living stuff maybe about 30 (but even then I went through my 20s without furniture other than a bed, and wasn't even trying to live simply, I just kind of didn't care about that type of stuff). And now I'm rich? Sadly no. Now I'm in my 40s and I think I basically skipped the acquisition phase and so sometimes still need to acquire something here and there. I think you do the crazy acquisition stuff more if you have kids though, and I don't have kids. So I don't have debt, my boyfriend does but it's all student debt for a massively expensive education that really does him no real good now.

[happystuff]

Welcome, Jocie. I'm one of those that lived frugally out of necessity, especially once kids came along. Still decluttering, but lm hopeful!

[BikingLady]

Welcome, it’s is a continual learning process with gains and losses along the way for me. Good Luck in your quest.

[dado potato]

Welcome Jocie,

You have some commendable life experiences, getting free from $40,000 credit card debt. (The banks sure do make it convenient to rack up high-cost debt!) In my opinion too many people who struggle with debt adopt a defeatist attitude ... "but I can never get rid of this debt". It is good to hear from people who found a way!

Like many others in this group, I was influenced by "Your Money of Your Life". My 1992 edition is 30 years old already. At the time I read the book, I did not agree with everything, but I did adopt the concept of investing for income with a "crossover point" as a goal. When I invested, I took some risks with equities that I would not take today! The book recommended only US Treasury and Agency Bonds. (I did not touch those, except for Treasury I Bonds later on). But I was quite fortunate. I was able to reach the crossover point (for my comparably simple lifestyle) after 8 years, when I was age 50. I had given the matter a lot of thought, so when I reached the crossover point, I was pretty sure I did not need to remain in the paid workforce any longer.

As events played out, I had some unexpected double-digit increases in the cost of health insurance. So I would suggest to anyone who believe they have arrived at the crossover point at age 50 to thoroughly investigate the topic of health insurance costs. Simulate the future 10 years family balance sheet with the assumption that health insurance premiums will increase at a rate of 15% annually. (Would you need to re-enter the paid workforce?)

[ewomack]

Welcome! I'm glad that you're slowly conquering your debt. I had learned that lesson in the past myself. At least you didn't reach the level of an old friend of mine, who racked up 6 figure debt before pulling the alarm cord. I've lost touch with him, but I'm guessing he's still paying it off. Easy credit makes debt far too easy to accumulate. That things ultimately won't make you happy in the end is an even harder lesson to learn, especially when surrounded by friends and family who are also accumulating things. Social pressure to buy and receive gifts year round doesn't help, either. I worked with someone who said that every holiday season, he and his wife bought presents for 16 kids from their extended family along with all of their parents. That added up quickly after even a few years. It's often very difficult to resist such pressures.

[littlebittybobby]

Okay---Super awesome and amazing! I enjoy reading your thoughts on SL stuff. You've definitely enlightened me and others. Thanks.
Yup.