How I paid off my bond in 5 years and how you can too – part 3

Are you enjoying this series so far? Remember to let me know if you have any questions in the comments and if they require long answers, I will write a separate post at the end of the series.

Here’s part 1 which lays the foundation and mindset stuff, and here’s part 2 which is the start of all the practical steps.

Let’s move onto the next couple of steps:

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  1. Don’t subscribe to “I deserve it” thinking

I hear this so often – I work hard and I deserve to have a nice car, or whatever.

Let’s be honest – there are many people who work much harder than some of us but due to circumstances they were born into don’t have as much in the way of material possessions.

So I’m of the opinion that while we all deserve things, that doesn’t actually fly with justifying your desires for all the latest material possessions – cars, gadgets, clothes, etc. you want.

I like to say, “I deserve to have my bond paid off quickly because I’m working hard on that goal” 🙂

Yes, by all means, treat yourself, but make it an appropriate treat. You can’t spend such a lot and still want to pay off a bond quickly. Unless you earn a fortune. In which case, this post won’t interest you at all.

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  1. Have no sacred cows

Dr Phil used to say (he might still say this – I haven’t watched his show since the twins were born), “you can’t have any sacred cows”. What that means is that nothing in your budget is untouchable.

“You can trim the grocery bill but I’m not giving up my big car”

The truth is if you want to make a big impact, then look at big expenses like cars, schooling (in some instances), holidays, and so on.

Sadly, one of our biggest line items on our budget in the last 6 months was water and electricity. How crazy is that?!

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  1. Step out in faith

With the last house we paid off, I remember going to work in the first week of January after about three weeks off from work. My boss, who knows all about my goal-setting behaviour, asked me if I’d set any interesting/ fun goals for the year ahead.

I took a deep breath because it was a big, scary goal, and said, “well, funny you should ask, but this year I plan to pay off that bond”.

It was way out of reach by normal standards but I had a sense that this was a stretch goal we could do.

Long story short but that’s exactly what happened.

Some hard saving from us, some unexpected monies here, a bonus there, a tax refund from SARS and it was done. In other words, a lot of smaller things helping us towards our goal.

It’s not magic, but there is something special with putting your intention out there, and believing (and receiving) answers from God as to how these big dreams will come to fruition. And let’s face it – had we not had this big goal we were working towards, those extra monies could very easily have been frittered away, or paid for holidays, furniture upgrades, newer cars, etc.

I have more to say on this subject but someone asked a great question which is now going into part 5 and will address a little bit more here.

Did point 7 feel too woo-woo for you?

What are your sacred cows? We all have them so don’t feel shy to share. Maybe it’s food, eating out, cars, gadgets, clothes…

If you’d like some coaching around these issues or for me to give you some customised ideas for your situation, email me for a confidential 30/ 60-minute session.

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  1. We do have a scared cow and that is school. I know private school education is costing us a lot. Fees monthly costs more than our home loan repayment. However, we have made our peace with it. The house we live in and the lifestyle we live, is all geared towards being able to afford the best school we possibly could for HB.
    We are not willing to compromise on that one.

    • Marcia Francois says

      I get that. It doesn’t have to be all or nothing though. Read the very latest post – even a little bit extra will pay off 🙂

  2. My sacred cow was an automatic car. My old car which was 10 years old was starting to cost us money every month and with the amount of time I sit in the traffic I just HAD to have an automatic car.

    • Marcia Francois says

      It does sound like a sacred cow.

      I just chatted with someone last week about cars – they are a necessary expense in Gauteng, but there are ways and means of not paying any more than you have to.

  3. I think I have too many to mention haaaa… but right now, it’s my desire to live in a specific location. I absolutely will not give that up. Even though the houses cost more, I could probably get a better house for less even a few kms out of the “zone” but I can’t give that up. Can’t or won’t?

  4. None actually at present. But I’m with Sam on the auto car though for me it is not really a choice as my bad left knee can’t handle all the clutch pressing. But I made sure we got a small car that I could comfortably afford without owing on it. I can’t think of anything that is a must ok maybe gym but it is a small drop in the ocean. But I know private education is something we won’t negotiate on for as long as we can afford it. We are happy to live far from work to save.


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