Today we’re sharing the story of Owen and his family. Find out what happened when they bought their house in the midst of tough economic times.
When we bought our first home it was in the middle of the financial crisis. Our purchase came with a $240,000 mortgage. It was a ridiculous sum of money. It also seemed like a very risky time to buy. People were being laid off, the stock market was tanking, and we were taking on a massive amount of debt. It was the largest amount of money we had ever owed. Read more
When we look at our list of “whys” for being debt free and financially independent, we’ve got all sorts of fluffy, encouraging stuff on there, such as wanting to do it for our kids and being more able to help others. But if those fluffy reasons aren’t working for you, you might try scaring yourself into financial stability. There are many cold, hard reasons for why now is the time to get your financial act together. Read more
When we first began our debt free journey, we had a LOT of emotional issues that were bubbling beneath the surface. We didn’t know it at the time, but a lot of the reason for our debt problem was that we were spending to quell hidden fears and sadness. We had conditioned ourselves to live with a broke mindset, you see. This excerpt from the beginning of our journey will show you what I mean. Read more
Many people are struggling with debt but it is unfortunate that their best efforts to get out of debt tend to sink them deeper into financial woes. For instance, it makes little sense to get into a new debt to pay off an older debt. More so, ignoring the debt problem will only worsen your financial situation by destroying your credit and locking you out of opportunities. Read more
One day soon after we began our “getting out of debt” journey I decided, for motivational sake, to go back and track how much we spent on eating out in 2012. It was in December of 2012 that we had our financial wake-up call and realized we had to do something about our money situation. We’d cut down quite a bit on eating out over the last couple of years before that, so I was curious to see what we’d actually spent on restaurants, given we’d tried to make 2012 a little more budget friendly in that area. Read more
Paying off debt is hard. Really hard. Anyone who’s ever tried it, even those who’ve succeeded, would likely tell you that it would’ve been easier to stay in debt. In the battle for debt freedom you are battling old habits, old mindsets, and often you’re battling at least a few people who tell you that you shouldn’t do it or that you can’t do it. So what weapons can you use in order to overcome the battles that try and keep you in financial bondage? Read more
This blog post is part of the Pay Down My Debt (PDMD) blog tour, sponsored by US Equity Advantage. PDMD is a solution that accelerates debt payoff and helps consumers monitor their credit and make smarter purchasing decisions. If you’re looking to pay off debt find out how they can help.
Today would have been my grandpa’s 97th birthday. My grandpa was an awesome guy, and I loved him SO much. He worked hard, raised eight kids with ethical standards and treated my grandma and the rest of our family well. I have tons of respect for my grandpa. He and I were buds, for sure. I loved spending time with him. One of my fave grandpa memories was when we would take him out to eat at the local pancake house and he would order liver and onions. We’d always say, “Grandpa! You’re at the PANCAKE HOUSE! Blueberry, strawberry, chocolate chip – they’ll give you any kind of pancakes you want! Why are you ordering liver and onions, of all things?” But the meal brought back fond memories for him, growing up as one of twelve kids of a police officer and doting stay-at-home-mom during the Great Depression. Read more
When we first started our “getting out of debt” journey, we didn’t tell a soul anything about it, mostly because we knew that most people would tell us we couldn’t make it happen and we’d be better off filing bankruptcy. We were deep, deep in debt, facing a 65% debt-to-income ratio at the time and were a minimum of $1,000 short of income each month without Rick’s overtime pay, which was not guaranteed. Read more
Hey, frugal friends! Today’s post is from Mrs. Daisy, who blogs about debt, family and farm life over at Dirt Road Daisy. Enjoy!
When my husband and I stopped ignoring the fact that we were in six figures of debt and decided to do something about it, we jumped right in the express lane with no plan whatsoever. Our strategy worked for a few months as we haphazardly put extra money here and there on different debts with no real rhyme or reason. The balances slowly started to decrease, but then we hit a wall. Read more
Happy Wednesday, friends! Today’s guest post is from Josh, who blogs over at Money Buffalo. Enjoy!
Let’s face it, you are most likely part of the 80% of the American population that is currently making a monthly loan payment. Between student loans, a home mortgage, car loans, and the exercise machine you bought on sale in January, it can be nearly impossible to not borrow money at some point in your life. While going into debt is often viewed a normal facet of life, most people do not realize how debt can destroy your chances of financial freedom and living the life you truly desire. Read more