Why You Need A Budget

I always tell people how having a budget helped turn our life around. For some people, just the mention of the “B” word makes them cringe. There are many negative implications attached to budgeting, but I am here to tell you that they are not true. Many people believe having a budget is limiting, as if it will tell you what you can and can’t do. I completely disagree. I think having a budget is freeing, because it allows you to finally tell your money where to go. When you have a budget that works, you will have your money working for you, instead of the other way around.

You will never know how you are doing financially without measuring it in a factual manner. Likewise, you cannot improve if you don’t know what you need to improve upon. Numbers don’t lie, and your budget will be the best reflection of how well you do with controlling your spending. The first question I ask people who tell me they have difficulty saving money is, “how much are you spending each month on _____?” If they can’t give me a definitive number, then therein lies their problem. I liken it to people who say they can’t lose weight. If they don’t know how many calories their taking in and how many calories they’re burning per day, then how do they expect to have any grasp on the things they can improve on in order to see results. A budget is necessary in order to track progress. People will usually try to ball park their spending, but it never works. Why? Because we always underestimate how much we spend. It’s human nature. It’s difficult to understand what’s keeping us from financial freedom if we do not know what we are doing with our money.

Budgeting will teach you more about yourself, what you value, and what you want in your life.

There are many reasons why you may want to master your budget. Here are some ideas.

  • To free up your time. You may feel as if work is taking up all of your time. You may want to cut down on work or change jobs completely but you can’t do so because there are bills that need to be paid. A lifestyle needs to be supported. Getting your budget in order may be just want you need to decrease your spending, thus allowing you to take that part-time job or cutting down on your work hours. Some people even want to become so financially savvy that they can pursue complete financial independence and retire early!
  • To relieve stress. Having a shortage of money can be very stressful. However, if you budget correctly, you should never run into that situation. Mastering your budget gives you more flexibility and allows you to be better positioned to deal with unexpected expenses.
  • To have more freedom. The more financially secure you feel, the more freedom you will have when making life decisions such as changing jobs, quitting work, traveling the world, starting a business, starting a family, and more. When money is tight, these things may seem very risky. But when you have a grasp on your budget, you can predict how much freedom you have in pursuing your passions. For example, if your dream is to time off and travel the world in 2020, you can definitely make that dream happen but planning ahead and using your budgeting skills to prepare yourself for that.
  • To support yourself and your loved ones better. For me, this was MY “why”. I was graduating from dental school with over half a million dollars in student debt, and was also about to get married. I knew what a burden I was choosing to bring into our marriage. He didn’t mind it, but I did. I was propelled forward with this drive to release us from this student debt, so that we can be free to pursue the lives we want to lead without being tied to working in certain fields to support large loan payments. It isn’t fair that the person I most love would be affected by debt because of the career I chose to pursue. So I embarked on a journey to get our finances in tip top shape, and we have mastered our budget so well that what people once told us would be impossible to do is being done! They said we wouldn’t be able to pay off our debt in under ten years considering the salary we would be making. Well, we are on track for eight years, and it all started with mastering our budget!

So, do you have a budget? What’s stopping you? If you want to kickstart your budget and start telling your money where to go, check out my FREE course, How to Create A Budgeting Tool That Works, and start achieving your life goals sooner. I hope it helps you with your financial journey as much as it’s helped us.

Feature: Student Loan Repayment with Student Loan Planner

This post may contain affiliate links. Please see my disclosure to learn more.

Today, my Itunes interview with Travis Hornsby was released, and it will leave you with much to mull over. Travis Hornsby is the founder of Student Loan Planner, whose goal is to help guide recent grads down the correct repayment path for their lifestyle . In this episode, he dissects my current student loan repayment plan. We discuss optimized strategies, loopholes in the system, as well as pros and cons with paying down debt aggressively or passively. I learned something new during my conversation with Travis which led me to switch my repayment plan in order to save thousands of dollars! Throughout this journey, I have found that it’s amazing that we don’t know what we don’t know. Without conversations such as these, we will never really be making the best choice available. Additionally, it secures my faith in our ability to pursue our path and reinforces the contentment that I have with our decision.

There are a few things that we touched on in the podcast that I wanted to clarify.

  • Mr. Debtist and I both have 401ks. We are not paying down the debt and ignoring retirement all together. We contribute to our 401ks every month and currently have more than $100k tucked away.
  • We bought our property but not just as a place to live. We knew before we purchased that property ownership is FOR US. Our property is very unique. It is a live work loft that has a commercially zoned business space on the first floor, and the living space on the second floor. We bought it as a means to increase our income. Even though Travis is wary of people buying at more than the 1% rule, especially in California, the conversation we had talks specifically about homes to live in. It does not take into account the money the house brings in on top of its worth. We currently make passive income off of the business space by renting out the room. If ever our roommate leaves, we have a few ideas on what to do with the space. Our hope is to eventually create a business of our own on the lower floor, thus adding to the ways in which the house makes us money.
  • As much as I would love to work pro bono in another country, I want to be rid of the loans more. I know that it seems crazy to forever pay $6,500 towards student loans every month for 8 years, but I trust that it will not be equivalent to what we are paying now forever. I believe in the snowball effect. As we alluded to in the podcast, once the loans are at a certain threshhold (less than $400k) there is the possibility of refinancing at 5.5%. Once it’s below $300k, there’s the possibility of refinancing at an even lower rate. Additionally, we hope to increase our income over time, as we are doing a number of side hustles. Lastly, as Travis tried to convince me to get on the forgiveness path, you can see that he did so to no avail. I am certain we are on the correct path for us. Once we are free of debt, we would have already been contributing to both 401ks for 8 years, paid as many years to a mortgage, established at least one consistent stream of passive income in the form of a side gig or business, and most importantly, we would know how to live off of very little. We know how to find happiness in the simple things. We would have created a life of intention. And that is worth more than anything a loan forgiveness program could give me.

This is definitely a podcast to listen to if you graduated with a large student debt. You will likely find some golden nuggets in our conversation, and if you like what you hear, then maybe scheduling a call with Travis would be the next step for you. If you have a smaller student loan amount, maybe getting rid of your debt is closer to your reach than you think. In case you were considering refinancing, below are a few refinance links, to help you get a better rate on your refinance.

Using the links above will reward you with a sign up bonus for choosing to re-finance. But before you do, please think thoroughly about whether or not you can sustain the new rates, because once you refinance, there is no going back to student repayment. Also, don’t forget to shop around and find the lender that will give you the best deal out there!

And in case you missed it, my previous podcast interview on Itunes with ChooseFI can be found here.

One Income Stream is Risky Business

There’s a recent happening at the Debtists’ residence that we have not yet spoken of. It’s one that I hope you consider heavily, and it emphasizes the risky business of relying on a single income stream. After revealing the going-on’s at our home, I sure hope it convinces you to re-think the way you look at yourself and your job, and to possibly start on this path towards adding side hustles to your resume in 2019. 


Real talk: A year and a half ago, Mr. Debtist pursued his dream job at a start up company working on electric vehicles. As with any start-up, there is risk involved, and one never quite knows if anything will come of it. Last year, we went through some difficult times with the company, and for a month or so, we didn’t know if there was any more growing left to be done. Luckily, they pulled through and at the beginning of this year, there was hope of moving forward.

Unfortunately, mid-October, we (and the rest of Mr. Debtist’s company) were blind-sighted by a turn of events that resulted in a laying off of 20% of the company, followed by a mandatory furloughing until further notice of anyone who joined in the last six months. A 50% cut on everyone’s salary was implemented, which is hardly the worst part. Last week, another wave of mandatory furloughs was issued, getting rid of all of Mr. Debtist’s friends at work, but one. All that’s left of Mr. Debtist’s team is him and two other mates. Now I am not ungrateful for the fact that he was kept on and still has a job, despite the 50% cut that he’s been working under the past two months. But it is a depressing thing, to see your company degrade, your co-workers leave, and your paycheck smaller than when you first graduated from college 8 years ago. I share this with you all to prove one thing: Having one income stream is risky business.


Sometimes, “what you do in your 9-5 is not as important as what you do in your 5-9”, my favorite quote from Side Hustle Nation’s Nick Loper. We need to stop thinking of ourselves as someone employed by a company who works in the 9-5. Rather, we need to start thinking of ourselves as entrepreneurs, who may be doing particular work from 9-5, but who are our own employers from the 5-9. Because we are our own employers, we are responsible for creating other income streams for ourselves outside of our 9-5. By doing so, we no longer remain dependent on a single job, or on an employer for that matter. Even if you own your own company and you work for yourself, you cannot assume that your single source of income will be there a year from now. You cannot assume that you’ll still be satisfied with the same work after a year. And who likes sticking to a job that they hate? We only have a limited number of days, and our lives have to reflect that. With other sources of income comes more freedom from any potentially unfavorable turn of events, and more power to call the shots as to what takes up your precious time. The minute you become an entrepreneur, you become your own person.

Even as a child, I knew deep down that I did not want to depend on anyone. In fact, I hated it when people told me what I could and couldn’t do. That’s just who I was. No one else but me gets to say how my life is going to be. I mean, should anyone else be given that right?! Here in this space, I write about ways in which we can live intentionally. Part of that requires ensuring that we are living for us. That our actions are shaped by neither our histories, nor our relationships. That we leave our own legacy behind, and not an empty shell of a life made busy with what other people thought defined our success, or worse, defined us.


For Mr. Debtist and I, we are absolutely lucky in the fact that we do not rely on one income stream. And I am not referring to the fact that we are a dual-income household. I would say that we are a hexi-income household, because we employ a number of different side-hustles to increase our income. And while we cannot necessarily replace our 9-5 jobs with the other income streams, we can stay afloat. We prove to ourselves that we can come up with something to replace it. We (hope to) inspire others to have the courage to make it work. If all of this jives with you, here are five income streams for myself that have helped offset the dramatic pay-cut. 

  • Work for 2 dental offices (and stay open-minded to help out fellow dentists in need at their offices). I work for two different dental offices in two cities about twenty five miles apart. One is three blocks from my home, the other is a five minute drive from my parents. Working for two offices gives me flexibility, but also, safety. Imagine one city suffering from a fire, or an office suffering from a sudden loss of staff. Dispersing my dependency between two offices that serves two different communities gives me a stronger sense of stability. Additionally, I have colleague dentists who occasionally message me and ask me to help out with their own private offices once in a while. If I have a day off, I am more than happy to work for them for that day, to help alleviate the work load or to give them time to take a vacation.
  • Act as landlord and rent out a room. We started this idea of co-housing in January of 2018. After having an emotional break-down over the stagnancy of our finances given the large student debt that we had to overcome (referring to myself, not the Mr. Debtist, regarding the debt AND the breakdown), we decided to co-house to alleviate some of the financial load, and more importantly, allllll of the stress. Another way of thinking of co-housing is as an additional income stream. Renting out a room in our home gives us an additional $700 a month! It’s actually the biggest thing that got us out of our stagnant stages (along with YNAB which helped us get our budget in order), and it was the best decision we ever made!  
  • Dog sit via Rover: This is a recent side hustle that I started to do and I think it has great potential. We do not have kids of our own, and while we love our toothless cat, we also enjoy the additional company of other pets, too (even though Theo may not). Dog sitting is a great side hustle because it does not add much to your plate. It is flexible in that you can create the timeline that works for your already existing schedule to feed and walk the dogs. For us, it is a great opportunity to play and love dogs who would otherwise be sitting in a kennel overnight. The dogs are welcome to sidle up by us on the couch during the day or on the bed at night. It gets us to go out on a walk three times a day, forcing us to exercise, but also giving us the opportunity to connect. With this side-hustle, I charge $30/night to dog sit, giving us the earning potential of an additional $900 per month. Via Rover, you can also choose to day sit, take dogs on a walk, check-in on someone’s pet, and more! You control your own calendar, making it easy to do without sacrificing your current obligations. For example, if you have a vacation planned, then you may block that day off from your availability. If you love pets as much as I do, then this is a great hustle to look into.
  • Use affiliate linking to generate income from the blog. This is fairly easy to do when you have an existing blog or social media platform. You can become an affiliate for a number of companies and help others by linking them to that company’s programs or services. Off course, I do not link to every company out there willy-nilly. I only choose companies that are in line with my lifestyle and my values. Most of the time, I have tried the product myself to verify that they make a good fit. For example, in an effort to help others who are attempting to wrangle their student debt, I have partnered with the following refinance companies (Laurel RoadELFICommon BondSofiSplash FinancialEarnestLendkey) to help people get lower interest rates on their loans. It’s a win-win situation, because I make financial independence, zero waste-living, and sustainable products easily accessible to my followers, and at the same time, I receive a small percentage commission from the companies I work with.
  • Take bread orders and sell bread loaves and croissants. Baking bread is like a science. If I am being honest, it took me quite a few experimental bakes before I even got to what I would consider edible bread. Eventually, I got to bread that was soft enough to digest, let alone bite into, but I still wasn’t satisfied. When I got into a bread baking habit, I wanted to improve my skills without wasting so much bread. A gal can only eat so many loaves in one sitting! So what I started to do was sell my bread to friends, family, and co-workers, which gave me the ability to practice honing in my skills without wasting resources. In return, they received fresh loaves of organic bread, without any preservatives of any kind, at a hugely discounted price. Even though I have stopped baking bread loaves every week once I developed a recipe that I was happy with, I occasionally still do get orders and requests. This isn’t to say that bread baking will replace our real 9-5 income. Rather, it’s to show you that you have hobbies and talents that people are willing to pay for. At absolutely no expense to you. Let’s say you love to read. Offer your services as an editor. Let’s say you like to cook. Sell your most popular meals to friends and family. Or better yet, start a blog and share your recipes with the world. If you like calligraphy, use the holidays or weddings as opportunities to make some income. If you own a camera, become a free-lance photographer on the side, starting with close friends and families to build a portfolio. Trust that you hold value , and share your interests and skills with others in a way only you know how.

We took over a $55,000 pay cut two months ago. But we aren’t going to quit. We will keep up the student loan payments and dig our way out of hyperdebt. We will flex those frugal muscles (a year of working out those frugal muscles has prepped us for this!). And we will not jump desperately to the next corporate job offer. We will stay afloat this crazy ocean ride. Why?? Because it is important (to us) to build a lifestyle by design. Part of that means that it is important to do meaningful work, however that’s defined by you. We knew the risk of a start-up company, but electric vehicles is what he wanted to do. He loves cars, and he believes strongly in a future of autonomous driving. Despite the unexpected turn of events, you don’t ever regret a decision like that. If you find yourself in a similar situation, I implore you to seriously think before you jump into the next job life throws your way. If it doesn’t align with your lifestyle or your values, why chain yourself up? 


We only have a limited number of days, and our lives have to reflect that (see paragraph 4).

How Switching Your Student Loan Forgiveness Plan Can Save You Thousands of Dollars!

This post may contain affiliate links. Please see my disclosure to learn more.

How would you like to save thousands of dollars a year, simply by switching the loan forgiveness program you are on? We know we did! A recent conversation with Travis Hornsby of Student Loan Planner informed us that we could speed up our loan repayment simply by switching from IBR to REPAYE! The information that Travis shared with us was so valuable, because it could in fact save us thousands of dollars on our student loans! That’s equivalent to refinancing to a lower rate, thus cutting down our repayment timeline, while still allowing us the safety net of being in a loan forgiveness program. After conversing with Travis for an hour, I would highly recommend Student Loan Planner as the starting point for any student or new grad looking for student debt advice.

So how do we save $$$ this year? It’s simple. All we need to do is to switch from IBR to REPAYE. Today, I will outline why.

Related Posts

A Case Study: IBR VS REPAYE

We were under the IBR program since we embarked on this journey to repay our student debt of $574,000. Before you consider which loan forgiveness program you want to choose, you should probably read Finance: Student Loan Forgiveness Options: IBR VS PAYE VS REPAYE. We had initially chosen IBR despite the fact that the monthly payments would be 15% of discretionary income vs REPAYE’s 10% of discretionary income because of this one factor: IBR allows you to file taxes separately as a married couple and it will only consider the loan holder’s income, versus REPAYE which will consider the income of your spouse as well. Since Mr. Debtist also makes a six figure number, we figure that we would have the better deal using solely my income.

Here is an example of how to calculate that:

Let’s use estimates from our personal story to calculate the difference.

Assume that our loan is an even $550,000, my income (the debt holder) is $125,000 and Mr. Debtist’s income is $120,000.

Under IBR, they would calculate our yearly loan payment by multiplying my income by 15%.

125,000 * 0.15 = 18,750

Now we divide that by 12 months to find the monthly payment.

18,750 / 12 = 1,562.50

Therefore our monthly payment would be $1,562.50 under IBR.

Under REPAYE, we need to use the total household income of $245,000 to calculate the yearly payment, however we will only be paying 10% of our household income.

(245,000 – 1.5 * 16,460) * 0.10 = 22,030.85

To find the monthly payment, divide by 12 months.

22,030.85 / 12 = 1,835.90

Therefore our monthly payment would be $1,835 under REPAYE.

As you can see from this example, IBR would be the better payment plan because you would be paying the cheapest amount per month and allowing the program to forgive as much as possible.

HOWEVER, there is a rule with REPAYE that IBR does not have. REPAYE will subsidize 100% of the interest accrued for the first three years for subsidized loans, and 50% of the interest accrued after the first three years, which changes the game. Note, if you have unsubsidized loans or GRAD PLUS loans, they will only pay 50% of the interest accrued, period. Let’s see how.

Under REPAYE, the government will subsidize the interest that does not get covered by your minimum payment. In my case, I took out GRAD PLUS loans, so that would be 50% of the interest that accrues. We have already calculated the monthly payment to be $1,835.90. Let’s convert that to yearly payments.

$1,835.90 * 12 months =  $22,030.85 owed this year under REPAYE

This year, based on last year’s income, we owe $22,030.85 in total payments under REPAYE. We also know that interest on $550,000 at 7% is $38,500. Therefore, our payments under REPAYE are not even enough to cover interest, as is usually the case with a loan this large.

So the difference is calculated as follows:

$38,500 – $22,030.85= $16,469.15 * 0.5 = $8,234.58

Which means that for our case, the government will subsidize over $8k per year! You would be missing out on thousands of dollars just by being on the wrong program! We certainly did.

Why We Stuck with IBR in the past

We decided to be under IBR right when I got out of dental school, BEFORE we decided to pay back our loans aggressively. The reason being in my first year, I only worked for the last three months of the year, having waited for my license to be approved after graduating in June. In my first year’s taxes, I made $25,000. So taking 15% of $25,000 would be cheaper than 10% of $145,000. Now in the second year, the numbers completely changed since I started working full time for the entire twelve months. My salary jumped from $25,000 to $125,000. The ultimate question: Why didn’t we make the switch?

In April of my first full year of work, we had decided to pay back the loans aggressively. Meaning, our monthly payments were MORE THAN the minimum amount required. In order for there to be excess interest accrued on the loan, our monthly payments should not exceed the interest gained, which was about $3,000. But since we were paying our debt like CRAZY, we were actually paying $6,500 towards the loans, so no interest was accruing and it did not matter if we stayed in IBR or went to REPAYE.

Or so we thought…

We were VERY wrong!

A Common Misconception

According to Travis Hornsby of Student Loan Planner, REPAYE calculates the difference between the interest accrued and the amount paid back on the loan at the beginning of the year. REPAYE assumes that you will only make your minimal payment each month, which means that they lock in the assumption that $11,500 would be accruing in interest (for our particular example). Every month, they will subsidize a portion of your loan to make up for the interest that will supposedly accrue, REGARDLESS OF THE MONTHLY PAYMENT YOU ACTUALLY PAY. It doesn’t matter if we pay $6,500 towards the loans or if we pay the minimum amount. Either way, REPAYE will subsidize the difference between the minimum payment and the interest that’s being charged. So we have actually missed out on an opportunity here! What’s passed is past, but we are definitely jumping from IBR to REPAYE ASAP!

What Switching from IBR to REPAYE will save us.

We need to make this jump because of the following:

  • It will save us tens of thousands of dollars in the long run.
  • Making the change will be the equivalent of refinancing to a lower rate without actually having to refinance! Which then gives us the safety net of staying in a loan forgiveness program. If ever life throws us a curveball (such as an accident, layoff, disability, sickness, or our worlds fall into chaos and we cannot work), then the loan forgiveness program will give us the flexibility to not HAVE to pay $6,500 per month.
  • After all the money we save, we can cut our repayment timeline down to 7.5 years!

Off course, not everyone under IBR should automatically jump to REPAYE! You have to pick the financial path that is right for you, considering your personality, your goals, your lifestyle, and more. If you are looking for sound advice on how to create a student loan repayment plan customized for your situation, don’t hesitate to contact Travis Hornsby, founder of Student Loan Planner, using my affiliate link. It will be a very rewarding hour! And check out my second podcast episode with Travis, to be released in 2019! Stay tuned.

Tackling Student Debt: Exploring Refinance Options

This post may contain affiliate links. Please see my disclosure to learn more.

As you all know, we’re in the midst of refinancing my gigantic student loan! We started at $575,000 and in one year, reduced the total to under $500,000. I have shared why we decided to refinance, and what the hold-up has been since then. Now it’s actually time to bite the bullet. There are many companies to choose from, and what is necessarily best one person isn’t the best for another. Therefore, there is no one formula or equation that would allow me to tell you the refinancing agency you should go with. My advice is to do what we did — shop around!

Figuring out which refinancing company is best for you is easy. You can visit a number of them online and get a quote. Here are some decisions you’ll have to make.

  • Fixed interest rate vs variable interest rate: I like the stability of a fixed interest rate, even though variable interest rates give you a lower rate initially. Unfortunately, you may find that low rate changing as time goes on, a surprise I am not willing to chance.
  • Number of years for repayment: You can also choose the number of years you want to take paying down the loan. They may offer you anywhere from 5 to 20 years. If you are refinancing out of IBR like I am, the smartest choice will be to choose the least number of years as you can comfortably pay… except for one exception. If they offer you a lower rate at 10 years instead of 5 years, then I would take the 10 year option at the lower rate, and simply pay it down more aggressively, so that you still finish in five years. It’s a way to take advantage of a lower interest rate!
  • The amount of your loan you will refinance: I put this here because sometimes you simply can not refinance your loans in its entirety. For example, some of the companies that we looked into max out at $300,000. Some are even career-dependent or level-of-education-dependent, and cap at lower numbers such as $150,000. This caveat specifically applies to us, because my loan is so huge! In fact, I have not found any lenders to date that would refinance more than $500,000 of student debt, which is why it was so important for us to pay down my debt until it was under $500,000.

Now that you’ve made some decisions, it’s time to make the big decision: Which lender? I would recommend going to each of the following websites below to see what they can do for your specific case. A pre-application will at least give you a rough ballpark estimate of what they can do for you. Below, you will find some affiliate links to each of the companies we explored.

Things to note:

  • Once you refinance out of IBR, you cannot re-enter IBR again. I’ve spoken of this before, but please make sure that you are able to pay the required monthly payments under the newly refinanced loan. I would like for you to consider any possible complications that may occur over the repayment timeline. If you or your spouse experience disability, will you still be able to pay? If you have a lifestyle change, such as an addition to your family, or move to a different city because of your job, would it still be doable? The last thing you want to do is refinance and get yourself stuck with a payment that you won’t be able to make. Off course, no one ever knows what the future holds, but try to ensure you have a fallback plan in place.
  • Pre-application rates have expiration dates. You can fill out a pre-application form, but do know that they have an expiration date. The quoted interest rates may change if you wait too long to go through with the refinancing process. Rates are always changing. Do not be surprised if you re-apply after your first application has expired, only to find a higher rate than before. If there is a rate you really like because it is very low, I would say move quickly, or risk losing it. Of the same token, don’t start gathering rates until you are absolutely sure you are ready to re-finance.
  • Soft credit pulls do not affect your credit score. Some pre-applications may request making a soft pull on your credit report. These will not affect your credit score, however, if they request making a hard pull, then that will have some effect. Therefore, you want to avoid hard credit pulls unless you are 100% sure that you will be going with a particular company. I have discussed how credit scores work once before.
  • Do not add your spouse as a cosigner unless you are willing to tie them down to your debt for life. Consider this gruesome inquiry: What happens to your student loans in case you pass away? A conversation I implore everyone to have. If your spouse co-signs with you on that refinanced loan, if you happen to pass, then your spouse is still on the hook to continue paying back that debt. If, perchance your spouse does not co-sign, should you pass away, that debt is erased. Off course, you must read the fine print of the contract they send you to confirm this, but that is something to consider. You may receive a lower rate with a co-signer, but is that worth it? Maybe for some whose loans don’t approach half a million dollars, but for us, I don’t think so.

Feature: Discussing Hyperdebt with ChooseFI

Today, my interview with Brad and Jonathan from Choose FI was released. In it, we discuss the topic of hyperdebt among recent grads. The podcast can be found at their website, so please have a listen!

If you enjoyed the content, here are other related topics that you may also find useful!

My Financial Story:

For New Grads:

On Saving Money:

Also, since the podcast’s recording, we have successfully been able to purchase a home! On top of paying down student debt at a rapidly fast rate! Here are a few samples of the new set of posts regarding property ownership.

Property Ownership:

Feel free to contact me with any questions, or simply to share your own stories. Like I mentioned in the podcast, I do not know of anyone else tackling a debt this large, but it’d be nice to create a community of said people.

Frugal Challenge: Don’t Buy Snacks

I am going to be the first to say that I am the least opposed to having a mid-afternoon treat. A firm believer that chocolate fixes all things, you won’t see me denying a cupcake when it’s sitting on the kitchen counter for the taking. My family knows that once you set out the dessert at a holiday gathering, I’m going to be first in line holding an empty plate.

That’s just the problem. It’s difficult to say no to something when it’s taunting you from right underneath your nose. However, it is very easy to pass up on something that you never knew was there. So here is my next, and long-awaited, frugal challenge for the month of October. Stop buying snacks!

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This challenge is not a practice that just recently came about in our household. In fact, it is a habit that we are quite accustomed to. The origin story goes way back to the moment I was diagnosed at age 22 as pre-diabetic, despite the fact that I weighed 100 pounds. You’ve oft heard the saying, “Never judge a book by its cover”? Well, it’s true. A skinny, young girl can be diabetic. At 22, my body was doing a great job at metabolizing all the sugars that I was consuming, but it was also already starting to fail. Without getting too extremely technical, having a normal blood sugar level does not mean that your body is not suffering. Your body can be fighting to keep itself healthy by pumping out a TON of insulin to get rid of those sugars, but eventually, your handy dandy pancreas will not be able to keep up with the work load, and it will start to fail. By the time you notice a high blood sugar level, it is already too late. Your body has had enough.

So when I was diagnosed with pre-diabetes, I knew something had to change. Having been trained to eat ice cream for breakfast, lunch, and dinner (yes, I have done that all in the same day… quite frequently), and growing up in a household where snacks can be found in the pantry every single day, I knew that it was my diet that was causing my body to suffer. I was taught that soda was exchangeable with water, and that juice was “healthy”. Every day after school, my mom would require us to eat merienda, which translates to a snack in Tagalog. Unfortunately, the snack list included chips, cookies, cereal, ramen, mac-and-cheese, and more thoroughly processed goods.

I was in my first year of dental school when I cut out sugar from the grocery bill. In doing so, I nixed mostly every snack possible. I not only said goodbye to my beloved cartons of ice cream, but also the chocolate bars and the cookies and the juice. I even cut out most cereals, with the exception of Cheerios (and not the Honey Nut kind). It was here that I first learned that the most efficient way to cut down the grocery bill is to get rid of junk food. I was grocery shopping for Mike and I, swimming in student debt, and I proposed that we limit our combined grocery bill to $50 a week, a rule which we still stick to to this day. $50 covered at least six days worth of breakfast, lunch, AND dinner for two. That’s how I got through dental school. But that means our limitations couldn’t stop at sugar. We also cut out chips, frozen fries, pizza pockets … even cheese and crackers.

Once we did that, we realized that $50 a week was completely doable. And I am not talking about eating spam or peanut butter sandwiches every day. I am referring to decent, home-cooked meals that taste better than going out to eat! Off course, there are many more perks to cutting out snacks than simply hitting a grocery budget. Here are the top 5 reasons why you should cut out snacks, in general.

TOP 5 REASONS TO CUT OUT SNACKS

  1. Decrease spending. Have you noticed that snacks cost so much for what you get? A protein bar for a few dollars?! A box of fruit roll ups for $5?! You’re practically paying top dollar for useless carbs that will shorten your life span or increase the chances of you needing to pay for medical bills to treat underlying conditions because of unhealthy food choices during your hay day. When you put it that way, all of this pointless eating costs more than the food itself. You may want to cut out snacks to decrease overall spending, for now and for the future.
  2. Cut down on sugar. In case you haven’t heard, all processed foods contain tons of added sugar. It doesn’t matter if they sell it in the form of “agave sugar“, it is still processed sugar that is unnecessary. Cutting down sugar was my number one reason to cut down on snacks. But there may be other reasons as well..
  3. Cut down on cholesterol. My extended family has a history of high cholesterol. When I think about how much salt lies in my once most favorite snacks (ie: Cheetos, Ruffles, French Fries, Ramen, etc), I can feel my arteries clogging up. Decreasing snacks can really do a body good.
  4. Become more productive. Let’s face it. A majority of us use snacks as a means to distract us from work. I remember the days when I needed to study for a test, and suddenly, my mind focuses on food when it should be focusing on the textbooks in front of me. How often do people at work take “snack-breaks”? Work-at-home-bloggers, you know what I am talking about. When I cut out snacks, I find that I eat more regularly. Three meals a day at approximately the same time. I stop “craving” a lot of things, which allow me to focus on my work, whether that’s dentistry or blogging.
  5. Help planet Earth. A majority of snacks are packaged in plastic. When we cut out plastic from our grocery list, we were already primed for success, because we have been cutting out snacks for a few years. Think about it. Individually packaged candies, bags of chips and cookies, even popcorn is in a paper bag wrapped in a plastic bag! We cut out frozen foods completely, as well as jugs of orange juice and bottles of soda. We aren’t only helping our bodies, but we are also helping the planet too.

Off course, there are many more reasons not to eat snacks. But these, for me, are my top five. So try it out for the month of October! Extend it past your grocery list and avoid buying snacks at all times. Do you need that mid-day coffee from Starbucks, or that extra bag of chips from the gas station to satisfy you during the commute home? If you do go out for dinner, is it necessary to get the appetizer and the dessert? Or a cup of soda, even though it’s unlimited re-fill? I know that at first, habits like these are hard to ditch. But try it for a month, and see how much you actually save. You may be extremely surprised, in a good way.

 

Property Ownership: Happiness Does Not Lie in Double Vanity Sinks

I never thought there would come a day where I would have to write about double vanity sinks. I guess that is just the space this blog is taking me to. Excuse my short interlude amongst my usual property ownership writing, but I am seeking respite from a thought that refuses to leave my mind. I turn to writing it all out, and (hopefully) letting it go. It has something to do with double vanity sinks, and everything to do with people’s concepts of what makes this life worth living.

We looked at two properties (this time around) before we decided on the one to buy. The first time we were looking at a live work loft, our agent was walking through the home with us, while the seller’s agent awkwardly stood downstairs. We were exploring the third floor where the bedroom and bathroom resided, a floor plan quite similar to the one we were renting. I walked into the newly renovated bathroom and commented, or rather, exclaimed, how nicely done it was. Our super rad real estate agent, who we love, flippantly added to the appraisal with what I presume she thought all prospective buyers wanted to hear.

She said, “The nice thing about the bathroom is that it has a double vanity.” She looked at us expectantly and then followed up with, “Do you have a double vanity in the bathroom you currently rent?” When we said we didn’t, she said, “That’ll be a nice upgrade then!”

I was quite confused by her comment, but smiled and continued asking questions about the home and moved on with the rest of the tour. It stuck with me as nothing but a funny comment, and it was pushed to the recesses of my mind.

Until our dear friend helped us move in to our new place (the one we actually picked) two Sundays ago. (How time flies! Was it already two Sundays ago??) After all the lifting, sweating, scuffling, and off course, gorging on food to replenish depleted energy stores, we were sitting on the couch catching up on each other’s lives. A thing that used to be an everyday occurrence in college but that you miss once everyone finds their place in the world. He excused himself to use the restroom and returned to the couch with a big smile on his face. “I like how you have double vanities. So nice!”

Mike and I kind of did this super obnoxious look that we give each other sometimes, at the risk of being borderline rude, and we smiled. We then proceeded to explain how we didn’t think it mattered how many sinks were in the bathroom, as long as there was a sink in the house. Our friend assured us that it’s because we have not experienced “double sink life” just yet, and that we would soon change our minds.

So I asked, “What is so special about double sinks?!” Quite in a similar intonation as the text implies.

He kindly informed me that it was nicer to have one’s own. He said that we each have our own stuff that we want around the sink, and it would be nice to have our own place to store them. He alluded to the stereotype that women want to keep a ton of products around their sinks, and men have shaving supplies to worry about. Plus, it would be such a convenience now that we don’t have to share a sink in order to brush our teeth.

After one week of living in this space, I still don’t get it.

First off, let me show you a picture of our sinks.

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As you can see, the only thing on it is a pump for hand soap, and Mike’s toothbrush. There is absolutely no other thing on the sink.

Secondly, what’s wrong with sharing? We can take turns brushing our teeth. Or, as is more often case, brush at the same time, but take turns using the sink. We tend to roam around the home while brushing anyway, and old habits die hard. Usually, I’ll accumulate my drool much more quickly than Mr. Debtist does, and I am using the sink before him. If anything, it makes for good laughs, moving each other aside in order to expectorate. It’s even funnier when we don’t quite make it.

Ultimately, I think I know what bothers me most. It circles back to when our real estate agent assumed that double vanity sinks is what buying a home is about. Or the inclination that double vanity sinks lead to a happier life. It relates to the concept that “more is better”.  And it still implies that convenience is key to happiness. I kinda miss our single sink. I miss pushing each other out of the way, and trying to steal water from over each other’s hands. I talk a lot about “less is more” but in doing so, I am feeding into this idea that more is better. Less is definitely LESS, but that can be a good thing, too.

Deciding whether a home is the right home for you does not depend on double vanity sinks. Sinks do not even define “an upgrade”. What’s the point of “upgrading” to double vanity sinks if, say, the mortgage is too much for you to comfortably pay. Doesn’t that downgrade you to a more stressful life? Why do people use sinks as a measure of how nice a home is. Shouldn’t we comment on other things? Like, how kind the neighbors are, for example. Or how it cuts your commute to a mere three blocks (yes, that’s my commute to one of my offices now. It’s glorious). I do admit, I may be bent-out-of-shape and hung-up on some small, insignificant thing. But I have got to say that as long as people are measuring worth in terms of double vanity sinks, there’s going to be a lot of happiness-searching without actually any happiness-reaching in this world.