by Claire
Oh my goodness! I am now a whole 4 days into blogging and am laughing at some of the comments. They’re sort of like attempts at writing 9,996 pages of a 10,000 page book–after reading just 4 pages. If I know nothing else, this is a process. I have much to share but clearly can’t do that in the first 4 days of blogging. I want to share it all and I want to address each of the specific questions but I know that isn’t the point of my blogging.
Keep following the blog and many of your questions will be answered.
I can’t get distracted by quick commentaries but instead have to pace myself and trust that you will continue to follow and learn as more of the story is revealed.
I am pretty sure that I was selected for this opportunity (to be the next blogger) not only because my debt numbers are so high but also because I am new to the “debt reduction” goal. Many of you have months and years under your belt and I do want to learn from you those things that will work for my situation…but every situation is unique and some things that work for a single person with no kids will never work for a newly married person with four kids. We are just now two full months into it and as my husband wisely points out our initial goal was to plug all of the holes in the dike–and that goal is just about met…because we’ve added no new debt since January 1, 2012.
Thanks for tuning in!
Born and raised in Texas. I’ve at least driven through every state in the US courtesy of a roadtrip loving Dad.
I’m single with two children and a good parenting relationship with their father.
I am a “life is just half full of funny” kinda gal. Humor is my saving grace and I am thankful for it every single day. I have a strong Catholic faith and am thankful for that foundation.
I read a lot for a living but still enjoy a good book. I love biographies but in recent years have found the need for fun fictional books–sadly, for a long time I just didn’t enjoy fiction!
I love live theatre of any kind–from local productions to Broadway.
I love to scrapbook and pride myself in my kids’ albums.
I love being a mom but also love my career. I’m blessed to have found a balance allowing me to be at everything my kids need and want me to be at–while also having a career.
Favorite Quotes: Well behaved women rarely make history.
Behold the turtle. He makes progress only when he sticks his neck out. -James Bryant Conant
Hey..no new debt in 2 months..thats great! And its probably been a while since you’ve been able to say that!! So YAY!!!!!!!! If you hadn’t decided to make any changes, your numbers would have just continued to get worse and worse..obviously you’ve already made changes that allow you to live within your means..even if right now you are using every penny of those means its waayyy better than before when debt would have been accruing. And once your used to these changes you’ll be ready to take the next step and start cutting back further. Its all about baby steps..little by little. CONGRATS!!!!!! 🙂
Claire – getting out of debt is all about patience and learning from your past mistakes. Trust me, being there doing that. It is going to be a fun ride to see your progress.
You’re right. I find this journey is very individualized and we each have to discover what works for us and our situation. Although I do find sticking to some common principles does help. I really like Dave Ramsey’s baby steps. If you haven’t be introduced to these it may be worth while having a peek at those. Just to help with guiding you along. Keep on keeping on!
Congrats on no new added debt so far! My husband and I both agree that for us that was the most important step. We have worked on debt reduction for years and although we made some progress nothing made the difference like making the commitment to no longer adding debt. We are in the home stretch now. I am so excited. Don’t let negative comments get you down. To me it is like mocking the heavy person in the gym. The important thing is that they are trying!! That is much better than doing nothing at all. I am excited to hear how good you will do because I KNOW you will do it!
No new debt is a definite accomplishment, as is letting the kids know what is going on. I know about the kid stuff adding up – I just wrote a check for $174 to pay for two AP tests for my high school junior. However, if she does well on those tests, they can add up to 6 inexpensive college credits.
I am excited to follow your journey. And congrats on adding no new debt this year… a great first step!
Have you ever watched a horror movie? You know the part where the teenager hears a noise outside, the part where everyone starts screaming “Don’t go outside! What are you thinking!!?!”
Then the creepy music starts, followed by more yelling at the screen. Everyone knows what’s going to happen and wish they could shout a word of advice to the helpless youngster in peril.
That’s why we’re all getting antsy and posting comments. Hopefully you’re a masterful storyteller and you already know that the story ends well. If so, kudos to you for peaking interest as a new poster.
If not, and / or you’re still doing the things you’re posting about, “Whoa there….big fella” might actually be the sound of the collective screaming from all of us war torn vets.
Todd–this is great! Thank you so much for your great explanation! It helps! I DO love to tell a good story, that’s for sure. I think part of this temporary disconnect b/w the “helpless youngster in peril” (ME) and “the war torn vets” (READERS) is that we still need to get to know each other. I can say for certain that the very fact that my secret is out in such a public way is more than half the battle for me. I recognize that I hid my money problems so well (sometimes even from myself!) that they became a sort of fiction! By getting out in the open in the way I have–albeit with strangers, I will only gain momentum from here. This is my nature. I look back at different life stories and see the theme of everyone around me screaming warnings (re: my first job in high school,re: where to go to college, re: my profession of choice, re: my first marriage, etc, etc, etc)…and my tendency was to go right to that door you describe and go outside to investigate the noise! I don’t know what that is–stubborn, inquisitive, contrary, STUPID…whatever…it is how I am wired! Good news is maturity has mellowed that knee jerk response and I can hear the war torn vets a little bit better now and turn away from that little contrary voice in my head that tells me to tell them all off and open the $@^#!*(&# door! Thanks again–this was a perfect way to illustrate “Whoa there…big fella” for my brain. I truly appreciate it!
My pleasure. Making analogies is one of the things I’m good at.
Staying out of debt, making wise financial decisions in my youth, self control, those are all things I’m not good at.
And here I am, in the same boat as you, hoping to learn something along the way and be encouraged knowing I’m not the only dumm….I mean “lifetime learner” when it comes to finances.
Even though you have some non-mortgage debt, I’m confident that your debt-free journey will be exciting to follow along.
Keep up with the good work of adding no additional debt!!
I love that you are taking it one step at a time by first concentrating on adding no new debt and then cutting back from there. I guess that’s pretty much how we did it too.
Now, that’s progress! No new debt in two months is wonderful! I recommend Dave Ramsey’s program, as well as another poster, but frankly, just having a very clear plan, however you do it, is very important. Don’t wait too long until you get a budget in place, or you will find the money still goes with little to show for it.
Drown out all of the critics and know-it-alls and focus on taking one step at a time. If you try to make too many changes at once, you’ll get overwhelmed and fail – it’s that way with anything in life where we’re making major changes. And like you said, you gotta do what works best for you in your situation. Some people prefer a sprint, but I see you as more of a marathon runner – slow and steady. 🙂 I’m hoping to finish my marathon by this time next year – two more credit cards to go!
Thank you for this comment! It is an inspiration for sure! I did get completely freaked out with the stern comments but then remembered it is all part of the process. Slow and steady wins the race! Congrats to you as you edge closer to the finish line!
No new debt is a great first step! Back when I carried credit card debt I would, you guessed it, transfer one balance to a 0% card, but then keep charging! Finally, I focused on getting rid of my debt and with the help of a nice pay raise I paid it all off.
My way was to focus on paying down the highest interest rate card. I made minimium payments on the other cards, but put all excess money towards the highest rate. Then, when that was paid off I focused on the next highest and so on.
Another method is to do something similar, but focus on paying off the lowest balance first. In terms of number crunching it doesn’t work as well in your favor, but in terms of getting a sense of accomplishment and feeling like you’re making progress, that’s the way to go. It looks like you have some small balances that you might be able to knock off relatively quickly 🙂
If you’re at all technologically savvy you could download Dave Ramsey’s daily podcast of his financial radio show. It’s a great motivational tool, and if you listen to it enough, you’ll pick up a lot of information and guidance regarding general money matters, debt reduction, and building wealth. Best of all — it’s free! You can listen to the podcasts on an iPod/iPhone or on your computer through iTunes (also free). Alternatively, you can listen to his show via tunein.com, a free website which aggregates radio programs from around the country. Ramsey is nationally syndicated, so you can usually find him on a lot of different stations in a lot of different time slots. I find this is a great way to absorb the material, especially if you’re a slow reader or don’t have the time or energy to read a lot each day. Long commutes are a great time to listen.
In any case, no new debt is probably one of the biggest, if not THE BIGGEST, steps to becoming debt-free. It’s a long process that requires a lot of care and attention, but I didn’t become debt free until I first plugged the holes in my budget. Once you’ve proven you can do that, eliminating the debt is just a matter of patience, discipline, and stretching extra penny you have. Way to go!
Great, great suggestions here! Thank you! I can listen while at the office. Thank you also for your words of encouragement. Every encouraging post gives me a little more fuel for the journey!
See, this is why I don’t blog! Good luck with developing thick skin! Don’t let people worry you. And thanks for writing, I tune in every day!