My plan to double my $100 in 30 days did not turn out the way I had intended. It isn’t that I cannot double the money. I know I can, by simply buying at wholesale and selling at a mark-up on eBay. The problem is deeper than that.
Back in March of this year I set out to get out of debt, save, invest and tithe. My wife and I put together a plan based on Dave Ramsey’s Financial Peace University teachings. We began to put that plan into action and have had some very good success since then. Those successes may have given me an over confidence that was leading me in the wrong direction. I found myself with an extra $100 that I thought should be put at risk so I could show people how to double thier money. But I neglected a few basic principle that up until now had allowed me to reach those goal we ahd set.
I neglected to stick to my plan of applying any extra money towards debt.
I neglected my plan to apply extra money to our emergency fund.
So, for a moment I veered away from our plan. I have applied the $100 to one of the 3 last remaing debts that we have. Over a period of time I will double my money, becasue not having to pay finance charges is as good as saving it. It won’t happen in 30 days, but I got back on track and stayed faithful to our plan.
Regards
4 responses so far ↓
1 Russell // Sep 30, 2005 at 12:37 am
That is great that you are sticking to your original goal! Best to focus on what is most important-getting out of debt-then getting too many irons in the fire!
2 Administrator // Sep 30, 2005 at 10:31 am
Thanks Russell. The plan is working. It was a mistake to veer from it. Lesson learned, now onward with more debt elimination.
3 pfadvice // Oct 2, 2005 at 7:51 pm
That is all part of the process. There are any number of reasons that we veer from our plans and it probably won’t be the last time. By realizing that the concept is sound, but you simple didn’t execute all the way through, you still have an opportunity to try again and succeed. Keep up the good work.
4 Administrator // Oct 3, 2005 at 4:32 pm
Thanks PFAdvice.
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