Never let the defeat of the past rob you of the success of your future. --Ray Comfort
What does it mean to be financially solvent?
Financial solvency means that an individual can pay all bills on time with cash to spare. Financially solvent people pay their bills each month from their checking or savings accounts, save some portion of their income, and typically have an emergency fund to cover the unexpected.
http://reference.yourdictionary.com/word-definitions/Define-Financial-Solvency.html
I actually had to look up what it meant. Next year at this time, I aim to not only know the meaning of being financially solvent, but I want to be able to show you - in my own words - my journey to it.
Our path through these economically-depressed years have been an adventure - an adventure that I would never trade. Being tossed about on a sea of self-employed living has been one roller coaster of a ride. Its been a rich and enjoyable experience. Its taught me the meaning of faith and trust. Its taught me how hard my husband works to keep us where we are. Ive so often not appreciated hard work.
This excerpt from http://www.dailyfinance.com says a lot:
Senseless Shopping: People can be quick to purchase anything they have a coupon for, or anything thats on sale. To be sure, smart shopping encourages us to look for bargains, said Garnett. But buying things we do not need just because it is a good deal is senseless shopping and cannot be justified. Over time it adds up.
Im so guilty of this. I think, over the years, Ive justified many of my small purchases just because they cost me $1. I wont condemn myself, though. This day-to-day process we call living and breathing affords us the luxury of learning through our mistakes. Although can you imagine how much I would have saved if I saved even 50 cents on every dollar I ever spent at a thrift store?
Things – in the long run, dont mean a whole lot. Learning to live with what we have, using coupons or deals to get what we need, and practicing good money management to save what we earn, are all wise ways of living.
I used to be a clutter freak. My collections of Fiesta Ware used to line the shelves, any shelf, that had free space. I had a cute little, er big, mirror collection that I would gaze wistfully into every time I passed it. Lots of handy plastic cups and bowls in every shade adorned the inside of my cupboards - no matter how old and scratched they had become over time.
I think it was the fire we had in our home four and a half years ago that woke me up.
There was so much smoke damage that we had to throw lots of things away. Things that I cant even remember now. The walls were re-drywalled, textured, and painted with the warm colors that I wanted. For a long time I didnt even hang any pictures, but kept the walls smooth and free of clutter. I waited until the right pictures came along, and only then did I hang anything. After that, my collections didnt seem so important. I sold a lot of items at garage sales, and the simplicity I found filled my heart with room to breathe.
My New Years resolution, of which Im famous for not keeping, will be simply these things:
Use my money wisely. God gave me the skill to earn it. I will no longer squander it. Unless its on that book Ive been waiting for that shows up at Save-n-Serve.
Siphon a portion of that money, no matter how small, into savings. Or at least into an impenetrable piggy bank! I never said I was perfect.
Only use coupons, e-coupons, deals, sales, ebates, and promo codes on things that we really need. Except for those out-of-your-mind-sale-of-the-century type things. Come on, we know they do exist.
Simplify. De-clutter. Free your mind from your stash. We all know that youre never going to use that stockpile of plastic cups from the 80s. Pitch them.
I resolve to be more open, honest, and forthcoming about money issues. If youre hiding issues, theres something fishy going on. Money matters equal honesty.
Frugality is one of the most beautiful and joyful words in the English language, and yet one that we are culturally cut off from understanding and enjoying. The consumption society has made us feel that happiness lies in having things, and has failed to teach us the happiness of not having things. - Elise Boulding
