Author Topic: The importance, mentally, of January 1st.  (Read 7182 times)

MrBuckBeard

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The importance, mentally, of January 1st.
« on: November 26, 2014, 10:33:47 AM »
We have just over a month to go before the date on our calendar rolls over to 2015.  This is the time resolutions get made.  Some even kept.  No more smoking.  No more drinking.  No more sleeping with Janet from accounting.  Whatever it is that floats someone's boat.  It's a time to make promises to yourself.

I want to make one early.  I'm still working on eliminating that credit card debt.  I've been working on this for awhile.  The end is in sight.  But sadly, at the best pace I can push it, it's still mid January.  I mean, come January 1st, my credit card debt is going to be down to under $500.  I get paid on January 7th, so that's when it becomes $0.  This is already after I've sold my car, went to Republic Wireless, stopped smoking, etc etc.  There just isn't anything in the budget that gets that $500 paid before January 1st.

Part of me says "Well, that's okay.  It's just one week of debt, then it's paid.  This was always the plan, heck, this is months sooner than the original plan."

Another part of me says "I want to start next year with no credit card debt.  It's not okay.  Do something more."

It dawns on me, then, that Christmas is coming up.  I could sell some things.  But I don't have things I don't use or want.  I have a PS4, for example.  I could, technically, sell that for at least $300. Then I'm sure I could sell other minor things to snag another $200.  So, possibly, I could have this cc debt gone by Jan 1.  But I don't really know if that's even a smart idea.  I mean, I enjoy the PS4.  I get free games every month, so I don't even put money into it.  And I'd be getting rid of it just to pay my CC off one week sooner.  Which has no tangible financial benefit, just an emotional one.  But the emotional benefit comes at a sharp emotional cost.  I already sacrificed my car,  lowered my utilities, and took a seasonal part-time job for October. 

What do you guys think about this?

hybrid

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Re: The importance, mentally, of January 1st.
« Reply #1 on: November 26, 2014, 10:39:40 AM »
Motivation comes from within, not without. A date on a calendar is an arbitrary thing devoid of true meaning. This is why New Year's resolutions ultimately fail, the person taking the resolution is rarely ready to make a significant change on a specific day of the year.

When one is ready, one is ready. If you are ready to make a significant change, the date on the calendar ultimately means nothing.

juuustin

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Re: The importance, mentally, of January 1st.
« Reply #2 on: November 26, 2014, 10:49:51 AM »
Motivation comes from within, not without. A date on a calendar is an arbitrary thing devoid of true meaning. This is why New Year's resolutions ultimately fail, the person taking the resolution is rarely ready to make a significant change on a specific day of the year.

When one is ready, one is ready. If you are ready to make a significant change, the date on the calendar ultimately means nothing.

I think dates that have internal meaning can be motivating, but I agree that January 1 is completely arbitrary and sacrificing something you enjoy just to make that arbitrary date is fruitless.

catccc

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Re: The importance, mentally, of January 1st.
« Reply #3 on: November 26, 2014, 11:09:31 AM »
I have done "new year resolutions" in the past, but I think I'm over it.  I'm just going to try to be better all the time, whether the date is December 1st or January 1st.

Eric

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Re: The importance, mentally, of January 1st.
« Reply #4 on: November 26, 2014, 11:17:20 AM »
What do you guys think about this?

I think it's pretty badass!

I mean, come January 1st, my credit card debt is going to be down to under $500.  I get paid on January 7th, so that's when it becomes $0.  This is already after I've sold my car, went to Republic Wireless, stopped smoking, etc etc.

You should be celebrating these major changes in both lifestyle and mindset that have put you on the path to not only financial stability, but financial success.  The fact that it'll happen 7 days "too late" is meaningless.  What is meaningful is what you've accomplished.  Congrats and keep at it!

MrBuckBeard

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Re: The importance, mentally, of January 1st.
« Reply #5 on: November 26, 2014, 11:32:13 AM »
Thanks all for your advice.  Okay, I'm probably going to just have to let this go to the 7th.  I'm sure on the day I have $0.00 in credit card debt, I'll be just as happy.

Also, Liberty Stache, that's a good idea, but I just can't do it.  You're a fellow Bostonian, ever been to Boston Costume?  That's where I took my seasonal part-time job in October.  $9.00 an hour meant that I had to work 3+ hours to make what I could do in 1 hour at my "real" job.  I put all of it towards my credit card bill, but working 64 hours total in a week was just killer.  I do like that you gave me another option though, it's always good to know what alternatives might look like.

Thanks everyone.  Patience has never been my strong suite.  And now that attacking my debt has become "my thing" I really want it done yesterday.

Zikoris

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Re: The importance, mentally, of January 1st.
« Reply #6 on: November 26, 2014, 11:51:21 AM »
You might consider doing some temporary labor-type jobs as well. In my area people post on Craigslist all the time with half day or one day projects paid in cash. This would be things like cleaning, helping someone move, taking garbage to the dump, painting, shoveling snow, minor construction projects, and landscaping. You don't need to commit to particular days or hours, just find stuff that works for you. It might be worth looking into.

Dicey

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Re: The importance, mentally, of January 1st.
« Reply #7 on: November 26, 2014, 11:54:20 AM »
MrBuckBeard,
Hearty congratulations to you, sir! In the days before MMM, JD Roth started a lovely blog called Get Rich Slowly. He sold it for a lot of green soldiers, but the site still delivers something of interest on occasion. Recently, there was one on getting a last-minute PT job. There are lots of ideas in the comment section. I agree that some jobs aren't worth the trouble, but you might see something that flips a switch for you. Otherwise, meh, you'll get there soon enough.

http://www.getrichslowly.org/blog/2014/11/21/ask-the-readers-where-can-you-get-a-last-minute-seasonal-job/

Grid

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Re: The importance, mentally, of January 1st.
« Reply #8 on: November 26, 2014, 11:57:27 AM »
I could lend you some money so you could finish in time.  Would that help your debt issue? ;)

Zikoris

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Re: The importance, mentally, of January 1st.
« Reply #9 on: November 26, 2014, 11:58:34 AM »
Also, if it were me I would want that cleared out by January 1st if at all possible. We do our annual financial report on that date every year which goes into our PERMANENT RECORDS, and it would irritate me having a little amount like that on the record for that year.

Mesmoiselle

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Re: The importance, mentally, of January 1st.
« Reply #10 on: November 26, 2014, 12:07:57 PM »
Chase Freedom Credit card is giving $200 for $500 spent (groceries and gas cover that expense.)

I have two banks, Wells Fargo, and Chase, that are giving $100 and $150 respectively just for opening an account with them. Very minor hoops and you can close in 6 months and keep the cash.

All of these give the cash within about 2-3 weeks of doing them.

We're at $450. I'm sure you can skip a grocery trip and scrape your pantry bare to save the other $50 and you've got your $500 before the end of the year.

Think outside the box, you've done great things, but now it's time to hustle and meet that goal.

Good luck!


MrBuckBeard

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Re: The importance, mentally, of January 1st.
« Reply #11 on: November 26, 2014, 12:21:50 PM »
Grid,

Mighty generous of you, but that's just robbing Peter to pay Paul.  The debt is debt, until income makes it not so.  Maybe I'll take a little one-shot job to make some extra money.  Maybe I'll sell something.  More than likely, I'll just call Jan 7th good.  After all, I can still look back on this and say to myself that 2015 is the year I had no credit card debt hanging over my head. 

You're all amazing folks, I value everyone's diverse opinions on this and other matters.  Especially since the diversity is still focused on one goal.

NinetyFour

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Re: The importance, mentally, of January 1st.
« Reply #12 on: November 26, 2014, 12:41:56 PM »
You could always choose to observe the Lunar New Year instead.  In 2015, it will occur on February 19.  Your credit card debt will be gone by then!!

Grid

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Re: The importance, mentally, of January 1st.
« Reply #13 on: November 26, 2014, 12:44:17 PM »
...but that's just robbing Peter to pay Paul.  The debt is debt, until income makes it not so. 

I definitely agree.  I also agree with the other posters that say a goal may be important, but don't unnecessarily focus on short-term earnings because of your own deadline.

deborah

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Re: The importance, mentally, of January 1st.
« Reply #14 on: November 26, 2014, 07:52:13 PM »
You could always choose to observe the Lunar New Year instead.  In 2015, it will occur on February 19.  Your credit card debt will be gone by then!!
Actually, because 11 days went missing in 1751 due to the adoption of the Gregorian Calendar (as against the Julian Calendar) you could argue that 7th January is actually 27th December (or even earlier - (2014-1750)/4 -3=63 days - 25th October!)

MoneyCat

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Re: The importance, mentally, of January 1st.
« Reply #15 on: November 26, 2014, 07:56:03 PM »
I can't wait for January 1st because then I can start contributing to my Roth IRA again.

Luck better Skill

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Re: The importance, mentally, of January 1st.
« Reply #16 on: November 26, 2014, 10:00:27 PM »
  You missed the mark but made the goal.  So you are off by a week or two.  I have never heard anyone say, "You said you would quit smoking in a week, and it took you a month, what a loser."

  What is the saying, "if you never set a goal you will achieve it."