About This Blog

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The idea behind this blog is to show our Journey to Freedom from Debt, hopefully informing and inspiring others to make that same journey.

Pretty typical guy, husband, father of 3 great daughters who woke up one day in 2008 and realized, “Jeez… we’re outta control!”

It first started out when I saw how much we were paying in credit card interest each year … around $2,000.  Now, at the time, we had been playing the “Chase the 0% rate” game and doing pretty well in that game. So $2k was enough to make me think (for a change).   The first step was to get past the initial stages.. you know… these

  • Denial (“We’re OK, we’re paying our bills”) to
  • Acceptance (“Ok, we’re in deep do-do… let’s see how bad”) to
  • Planning (“Let’s line up the debts..”)

Thanks to some great websites, Dave Ramsey‘s plans and a whole bunch of sweat and some discipline, we took our total consumer debt from $68,200 to zero in just over 3 years.  (This does not include Mortgage.. that’s up next)

In 2008, when we ‘woke up’, I had been doing some consulting work for a Mega-Church.  Their income was purely based on donations… which were diminishing.  That, along with the beginnings of ‘doom/gloom’ about a Recession had us take some pretty strong measures.

  1. Stop all my contributions to my 401(k).  Yes, I know how important it is to save, but remember.. we were $68,000 in debt.  Short term it made absolute sense and I’d do it again in a heartbeat.
  2. Take the list from ‘Planning’ (above) and start a Debt Snowball.  (There’s a whole other series on Debt Snowball that I’ll discuss, again.. what worked for us may not work for you)

I hope you enjoy it and most of all participate !

 

4 Responses to About This Blog

  1. Pingback: How much debt is too much?We Got Outta Debt

  2. Pingback: Refinance ... Done! | We Got Outta DebtWe Got Outta Debt

  3. Your journey sounds a lot like ours. Congratulations on paying off so much debt. Good luck with your blog. Can’t wait for your first post.

  4. Pingback: An exciting time | I Got Outta DebtI Got Outta Debt

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