Okay so I started this blog back in 2007 when I began my journey to get out of debt. I can safely say I am debt-free expect my mortgage which I am working on. As you can see it has been awhile since I created a new post, reason, I allowed life to get in the way, period. Well I am back now, willing and ready to share some of my experiences with you, hoping that you will share yours with me as well. Have you started the journey as yet? If not, what are you waiting for? I will not kid you, it is a painful process. While you are going through this process, you might have to drive a not-so-great-car, no "eating-out" for a bit, etc, etc., but remember it is a journey, there is a destination. What I can safely say is, once you are out of the hole and start really saving, it is the greatest feeling and you will say it was well worth it. It is only then that you can you can truly help someone in need and not worry about it. You will stop living from paycheck to paycheck; you will smile more; you will be able to face life's incidentals without having to go borrow from Tom, Dick or Harry, if they exist! Murphy's Law will not be such a fear anymore, you can truly live like God intended you to live. I am hoping you will start this journey or tell me where you are in the process. Let's do some damage to this "credit" mentality! Are you ready?! Let's do this!
Step #1: Assess the damage: This is done by figuring out how much debt do you have? It's time to face the music. Lay it all out on the table. All the secret credit cards, with the balances you have been hiding from yourself and who know who else. Let's get real! Any store cards? Today is assessment day! You need to know the true balance of your debt, including your mortgage. The mortgage and the student loans are the only debt which we will "wink" at for now. All others are inexcusable. How about that car loan or the loan from your sister, brother, job, coworker, payday loans or a friend. If you borrow and promised to repay, it is a loan, include it. Write it all down on paper, no trying to figure it out in your head, you need to see it in ink. Now, make yourself a promise: I will not use another credit card or borrow anymore money until I know the true balance of my debt.
Okay so you are one of those really organized individuals who already have the answer to this question, very well then, make yourself a promise not to use your credit card to buy any Christmas gifts! Is that too harsh? No, it is not, how can we borrow money we do not have to buy a gift?
Remember this is a step by step process so we are working on step 1 this week. Let me know when you are ready for step #2. Remember no Christmas or birthday gifts on credit. Get created and make something or give promissory notes indicating that you will get a gift at a later date. Be kind, share your love, the people in our lives need more love than gifts. Let me hear your creative ideas. Living debt-4ree rocks!!
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