Debt Reduction, Debt Story

How I Got Out Of Debt

It’s been a while since I’ve written about how my wife and I paid off our consumer debt.  I thought new readers (and folks who have been around for years) might benefit from a retelling of our story. Back in April of 2005, my wife and I decided that it was time to get out of debt.  We had a total of just over $11,500 in consumer debt, consisting of credit card debt and two automobile payments.  It took us a little over 10 months to completely pay off our debts.  Here’s how we did it – 1.  We stopped using our credit cards.  We didn’t cut them up or freeze them – we just stopped using them. 2.  We…

Continue Reading
Budget, Frugality

Firmly Standing On The Middle Ground

As I sat down tonight to work on our budget for February – using the awesome You Need A Budget – I noticed something:  I stand rather firmly on the middle ground.  Allow me to explain – There are some folks who choose to live without television.  There are some folks who pay for every possible channel. I have basic satellite service, with no premium channels. There are some folks who do just fine without cell phone service.  There are some folks who have the very latest in cell phone technology – and the most expensive data plans to match. I have a basic cell phone with a family share plan. There are some folks who make everything they eat…

Continue Reading
Goals, Money Management, Saving Money

Achieving Financial Goals – The Process Remains The Same

I do not like distractions.  When I am working on an article, I don’t want to listen to music.  When I am watching television, I do not want to hear the noise of the dish washer.  My mind is of the proverbial “one-track” variety.  Multitasking is not for me. When it comes to the management of our finances, I find things work best when I’m focused – intensely focused – on either one goal – or a few, very closely related goals. For instance, let’s assume my goal is to be debt free.  Well, I might have two credit card debts, a car payment, and a student loan.  Each of these debts are part of my debt repayment plan –…

Continue Reading