Worth-it-Wednesday is here a little early because Melanie at deardebt.com enticed me to write my debt breakup letter. It is such a great idea but as I started to write, I found Debt was sitting on my shoulder watching every word I typed. In usual fashion he decided to chime in. Go on over and check out what I and he had to say. He’s a gnarly little fellow. So here is me, writing my taking back my life letter, and this is how it went … Dear Debt …
My #3 daughter gave me the best Mum’s day present on Sunday when she told me her student debt from her Masters degree was all paid off! About a year ago we sat down and did a Gail Vaz-Oxlade analysis on her expenses to see if it fit into Gail’s guidelines for Housing – Transportation – Life – Debt – Savings of 35% – 15% – 25% – 15% – 10%. Now, she did have more than could be paid off in a year but she received a very sizable income tax refund so was able to completely extinguish it this weekend. I was so happy!!
I didn’t know how serious she was taking it from when we last talked about it and I don’t like to nag. Well, more honestly, I was probably afraid of being disappointed, so in usual fashion I buried my head in the sand. (Hey, it’s her debt, not mine! … even though I did feel partly responsible for not setting a better example on how to handle money.) She used to be a bit spendy and she likes to travel. Plus, her once famous quote “I’ll always be in debt” used to make me cringe, so I figured she was going to be a hard nut to crack.
But I guess Mum’s persuasion and some new found frugalness on her part was just what was needed to crack that nut open. She thanked me because she said I helped her to see it was possible to eliminate her debt. I guess I can really move on from my guilt trip now. Heeee …Image Credits from FreeDigitalPhotos.net: Nutcracker by artur84 Walnuts In Love by Aleksa D