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How Far Will I Go To Pay Off Our Debt?

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A few people have commented to me a while ago that if I was serious about reducing my debt I would do more. I should cut out the cable and I should spend as little as possible and sell most of our possessions. I’ll add that you could go ever farther and live out of a truck as this man has been doing. Now that’s an extreme way to get rid of your debt.

But while I am trying to pay off our debt as quickly as possible, I’m trying to live our lives in a way that will not lead to major splurges once our debt is paid off. One could say that I am trying to establish life long spending habits for our family. There is always a fear that we could end up back in trouble down the road if we do not work on what got us in debt in the first place.

And the biggest thing that got us into so much debt was spending more than we earned. It’s amazing how one little phrase can sum it all up, but it’s true. That is the base of our problem and that’s what I am working on correcting by living within our means.

I like to think of it as finding that happy place where we are spending less than we earn, yet still having some things that we enjoy. With the three of us, we do want to enjoy life but we are learning how to do it for less and we make our dollars stretch as far as they can.

I think with each passing month, we are getting closer to that happy place. That’s where I want to be while paying off our debt because I think it will be a great way to live once we are debt-free.

Welcome Readers from the New York Times Editorial!

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Hi there, and welcome to those stopping by from the editorial in Today’s New York Times that was spurred by the article from John Leland a few weeks ago titled, “Debtors Search for Discipline Through Blogs.”

I thought I would take a moment to welcome you and to repond to the Editorial.

My general feeling about my credit card debt is that we alone are responsible for it because we were living beyond our means. However, some of their practices (like the Editorial suggested) are downright shady. The universal default clause is a horrible practice and I am so glad that Citibank did away with it!

Our credit cards gave us plenty of rope to accumulate $37,000 worth of credit card debt with credit lines that were more than our yearly income! Again, I do take responsibility for our use, but if you think about some of the practices that credit card companies employ to keep you in debt and keep you paying interest…it is saddening to say the least.

I am one voice on this blog, but what I am finding out is that there are so many others out there struggling just as we are. I have learned that I am definitely not alone with our debt burden and prior financial mistakes. And that is what my blog is about – I am working to make things right and get our financial house in order.

I have a year’s worth of posting on here so feel free to browse around. A good place to start is by going to my archives on the right hand side of my blog.

Or, if you are busy at the moment and might want to come back later or keep updated on how we are doing, you can Subscribe to my feed in a feed reader or you can Subscribe to receive a daily email for all of the prior day’s posts.

Thanks for stopping by 🙂