Tuesday, September 29, 2009


It's the dreaded "D" word.


Why does no one tell college students about the dangers of debt? At least no one told me or my husband when we were in college, and I was even working on a business degree. I guess we just thought that the debt was inevitable or the only way to get by in college, and we would end up with wonderfully high paying jobs when we graduated and it would be no big deal to pay it back. I really don't remember what I was thinking. Then reality hit. All I know is, I woke up one morning with a degree in one hand and a pile of credit card bills and student loans in the other hand.

Very soon after we were married, I became passionate about reducing our debt. I had two main motivations. First, I had heard from numerous sources that financial issues were the main cause for divorce. Second, I reall
y wanted to have children and be able to stay at home with them.

So this started our journey toward debt payoff. I read books, attended workshops and seminars, made a budget and a debt repayment plan. We invested a lot of hard work and determination toward our goal. Within two and a half years, we had paid off a total of $38,ooo in debt consisting of credit cards and a vehicle loan. We had also stashed 6 months living expenses in our savings account.

Now, our work and family situations have changed, but we're still chipping away at those student loans, and next the mortgage. We use a budget, and pay off our credit card each month.

I'm telling you this, not to boast, but to encourage. It can be done, and we are proof! You don't need a business degree, expensive programs or high paying jobs. We use several "tools" to help us in our debt repayment. Over the next couple of weeks, I will be sharing these tools with you. In the meantime, I've posted links to some good reads to the left, under "Great Articles".

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