Shannon Lee Simmons

So if you have to make huge, massive reductions in spending in order to get this thing hammered down over three months, it might be in the realm of not affordable.

Because if you do that, then you're gonna have less income or less cashflow every month.

And then you're gonna do it again.

It almost seems like a buy now, pay later wheel that can get out of control.

So I typically say three to six months on a credit card

The interest is not going to make or break your retirement probably, but it's just whether or not you're diligent enough to actually pay it off.

And if you're going to keep doing stuff like that.

So there's room for the day-to-day life.

And then there's room for like, this could sit on a credit card.

This is a big enough expense to do that.

But am I reasonably going to be able to pay it back?

And so that person's not actually living within their means of their hate in their life.

That's a different problem.

So every now and then, I mean, we're going to have expenses that are bigger than what we can.

And so as long as you're being mindful of those, that's not a spending problem.

I think it's an exercise in mindfulness and planning, again, coming down to the financial plan, but I think that it's a financial plan around your spending money.

So I have a theory or like a thing that I do with people sometimes when they need to reduce spending or they need to make cuts somewhere because this is a normal thing that we have to do, especially as things get more expensive and it's painful.

And often we'll do things like, you'll look at your credit card spending, you'll download your transactions and look at them.

And most people immediately go to,

take out coffee and lunch.