Net Worth
Good Info I've Collected
- Debt Calculators and Debt Reduction Resources
- Financial Calculators
- Free Stuff
- Increasing Your Income
- Keeping Motivated
- Living Frugal
- Random Money Saving Tip
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It is so very exciting to be nearing the four figure mark with our credit card debt. Yes, there is still a ways to go before our journey is over. But I can taste it now. I think some of you taste it too, and are curious as to what will happen with this blog when our credit card debt is paid off. Truth be told…I’m curious too!!
This blog has been so very valuable for keeping me motivated. If I stopped, I have a feeling things would have kept constant like with how things went when I went on hiatus with Blogging Away Fat. This blog helps to keep me motivated to pay off our credit card debt.
That in itself is one problem with my blog. It is here to document our journey to pay off our credit cards and at some point our journey will be over. Then, it will be like…”What’s next?”
We will still have debt when our credit cards are paid off. There will be about $30K in student loans and our mortgage of $34K. Perhaps I’ll keep blogging while we pay all of those off. But then again, after three some years of blogging about debt and being in debt, perhaps it will be time to move onto something else.
I guess it all depends on where we are in our life when that day arrives. But I do know one thing for certain…I am going to keep blogging until every last cent of our credit card debt is paid off 
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About This Site
Credit Card Debt
- Starting = $37,614
- Paid Off = $28,616
- Current = $8,998
- $25 ING Savings Bonus
Savings Account
- Current = $3,203
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Posted: April 12th, 2008 at 11:55 pm
Debt is debt, so I would figure that you would keep going until all of the debt is gone…
Posted: April 13th, 2008 at 12:10 am
You’ll still be way behind in your retirement savings once your debts are paid off - so just work out how much you should have saved up by now to be “on track” for the retirement income stream you think you’ll require. The shortfall is how much you “owe yourself”. I’m sure this would provide you with several more years of blogging about your progress towards paying off this “debt” to yourself. And tracking that progress will be even more satisfying than your journey so far.
Posted: April 13th, 2008 at 12:17 am
Very true about debt being debt. But if I kept going until our student loans and our mortgage were paid off that could be an additional 6 or so years, likely longer because we will be starting to save up more money and starting to save more for retirement. That’s why I decided from the beginning that I would target the credit card debt on here because to target all of our debt would be too overwhelming. But I could very well continue to blog while paying off the rest so the option is there.
Posted: April 13th, 2008 at 12:18 am
Way to go Tricia - I am so jealous! But I am getting there slowly but surely too. I’m sure you will find things to blog about - you are an inspiration to me and many others too. Keep up the good work and the great writing!
Posted: April 13th, 2008 at 12:20 am
Enough Wealth - very interesting idea! I have a feeling that number will make my jaw drop. Sadly, I haven’t thought all that much about retirement since I’ve been so focused on debt reduction.
Posted: April 13th, 2008 at 12:48 am
Hey Tricia,
Well, many other people would be helped by seeing what you’ve done here, so I hope if nothing else the blog is always up! You also could do something like happened on savekaryn.com where they passed it on to someone else fighting debt.
Posted: April 13th, 2008 at 1:27 am
Regardless of what will benefit your readers, I hope you continue to blog to the extent it keeps you accountable and motivated to 1) keep paying off debt at a rapid pace until you are debt free 2) not fall back into using credit card and debt and 3) make smart financial choices regarding retirement, savings, investing and giving. Good luck!
Posted: April 13th, 2008 at 7:00 am
I wonder the same thing about my debt and blog…and decided that the focus would just shift from credit cards to student loans and retirement savings….that readers would follow the evolution of being in debt to having a retirement account and investing! If many of them are in credit card debt, they would probably appreciate seeing what happens at the end!
Posted: April 13th, 2008 at 7:17 am
This is fantastic! Nearing the four figure mark with your credit card debt has got to be a great feeling. Yes, there is still a ways to go before your journey is over. But you are so much closer than before.
Its not only motivational for you but also for us also to see to reaching that point.
You are truly an inspiration.
Posted: April 13th, 2008 at 7:28 am
I am for keeping the blog, and doing the same things until the student loans are gone. To me, those are still debt.
I was thinking last night, what if I went on wife swap with any of the other finance bloggers who are moms- (on that show, the guest wife/mom decides how the other family will spend their 50K). If I went on with you, I would say, pay off the credit cards with 10K, the student loans with 30K, 5K in savings and 5K on a vacation for the three of you.
It was a good thing to think about to pass the time.
Posted: April 13th, 2008 at 7:43 am
Keep on blogging! I think this is the best motivator and accountability checker system ever invented.
Not to mention the motivation you dish out to others.
Perhaps after the payment, you can think of a million dollar savings target or something like that.
Posted: April 13th, 2008 at 9:00 am
Yes, please keep blogging (unless, of course, it no longer motivates or inspires you). Your perspective and stories are so motivational!
Posted: April 13th, 2008 at 4:11 pm
I’d really like to see you keep on blogging through your student loans & mortgage. I also agree with Enough Wealth (fellow Aussie) that it would make interesting reading seeing you apply your principles to your retirement savings too.
Posted: April 13th, 2008 at 7:14 pm
You could always start another blog … something like Blogging Towards Retirement. Lots that could be said about savings and investing.
Posted: April 14th, 2008 at 5:13 pm
How did you ever get yourself into $37,000 of credit card debt? Seriously, if I only owed $30,000 in student loans and only had a $34,000 mortgage, I would have been debt-free at age 25!
Unfortunately, I owe $130,000 in student loans and have a $300,000 mortgage. I have NO credit card debt, no retirement, NOTHING.
Yet, I applaud you for paying down your self-induced credit card debt instead of filing bankrupt like so many people do and making everyone else pick up the tab. Kudos to you!
Posted: April 14th, 2008 at 9:03 pm
Your blog has enterprise value. Don’t just shut it down.
Posted: April 15th, 2008 at 6:01 am
You’ve done really well. You need to keep going! Pay the rest off . . . Good Luck!
Posted: April 15th, 2008 at 9:54 am
How nice to be thinking about the next phase. I too love your blog and hope you keep blogging. I imagine many readers will follow, no matter what you blog about!
Posted: April 15th, 2008 at 12:58 pm
You’ve done an amazing job on this site - when all the debt is gone you can simply start focusing on making money and investing it. With your credit card debt gone you’ll be able to apply all of that extra money to your other debt or investments which I’m sure other people would be interested about.
Either way you’ve been an inspiration to me and I hope you keep it going for a long time.
Posted: April 20th, 2008 at 10:33 am
Congratulations on your progress. I say keep blogging with the student loan debt. These type of stories are inspirational. You’ve gone this far with the credit card debt, I bet blogging about student loans would be a breeze for you.
Posted: April 23rd, 2008 at 8:34 am
Congrats to you. I came in late to BAD. How did you get started in blogging? This is so much better to talk to thousands of readers at once and get responses in return. I know you might have written, just to write, but how?
Curious on how to get more involved.
Posted: April 23rd, 2008 at 10:12 am
The skills you have learned while blogging away debt will help you put away money for retirement. It’s basically the same, except that instead of paying someone else, you are paying yourself and interest it’s the enemy, it’s now your friend, which helps grows your money via compounding.