In Pursuit of Zero

We have two kids in college at the moment. One is finishing up, the other is taking off from her first year like a rocket, jumping from Freshman to Junior by way of a full load and a summer semester abroad in Ireland. Having had children early in life by modern metropolitan standards, I didn’t have time or the extra funds to save for college. However, I hold firm to the commitment that my children should not come out of college saddled with debt, so… yours truly is paying for college. As I watch the student debt totals climb, I begin to get uneasy. I know I can pay it off in a reasonable time, but I do not like owing money. The only logical conclusion is to reduce spending in order to funnel more money towards the debt. Hence, “in pursuit of zero.”

Having read up, watched movies, and listened to podcasts on the topic of minimalism, I am wise in the ways. There is a mental shift that has to take place in order to buy less. We get settled into our routines like morning coffee at Dunkin Donuts (yes, this part of America runs on Dunkin), grabbing a bite at the cafe for lunch, or closing out a long work week at happy hour with friends. All of a sudden not doing those things when your income level hasn’t changed feels a bit like punishment. I also find that I tend to buy things whimsically – especially when life isn’t going as expected. Frustrations at work? Oh, I think I’ll work on my upper body and core strength with a new set of gymnastic rings for the garage. To be fair, I do use my new toys. But in reality, I don’t need them.

So it is with essentially no fanfare that this weekend I kick off a fresh pursuit of zero. I’ll start with some analysis of where I’ve been spending my money – this is always a hoot. From there I’ll look for opportunities to reduce subscriptions and then set ground rules for spending like: “No takeout coffee.” Even if I can free up an extra $50 a month to redirect toward paying down debt, I’ll call it a win. While I won’t post exact dollar figures here, I’ll check back in in a future post to report any progress.

On a related note, I find that Cait Flanders’ The Year of Less is the best book on moving toward frugal living. What I thought would be an exercise in throwing stuff out and setting rules about shopping a la Marie Kondo turned into a deep analysis of the factors that drove Cait’s consumerist behavior. While I don’t have much in common with Cait, I applauded her candor and honesty, which inspired me to get out of some of my own mental ruts associated with spending.

Cheers!

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