debt debs

Personal Debt Wrangler – Had my money head in the sand – but no more!

My Story

debt debsI am a fifty-something wife and mother and new grandmother.  I’m blogging my way to retirement – both debt and work [nothing else to do with a cash strapped entertainment budget :-)]

I used to hate managing my finances.  I worked hard enough all day without having to do more when I got home.  Consequently, I did not pay attention and we racked up way too much debt.  You would think after consolidating our debt 3x on our mortgage I would have a clue!  You know when Gail Vaz-Oxlade tells people that if they keep up their spending at a certain rate eventually they will be [insert Dr. Evil voice here] 1 million dollars in debt.  Well that’s us!

OK well it’s not that bad but it is pretty bad.  When “get a clue” day arrived in Mar 2012, we had amassed $235,600 worth of consuming* consumer debt (including almost $100K of interest charges!).  [It’s hard to write this]

If you feel bad about your financial situation, jump on board!  Misery loves company!! [LOL]  I’m interested in sharing ideas to get and provide motivation up as we wrestle this debt monster to the ground.

[* I actually typed consuming the first time.  I didn’t notice this until I went back to proofread later in the day.  Well it was made consuming and is all-consuming so it kinda fits! :-) ]

Here are some other posts that tell parts of my story as well:

Can a Marriage Survive a Debt Crisis?

Mother Money Moments

My New Enlightment Since Acknowledging Our Debt Crisis

My first post – How did I get here?

 

22 thoughts on “My Story

  1. Pingback: How did I get here? | debtdebs

  2. Just wanted to wish you good luck in your mission to pay off debt! My debt is ‘consuming’ kind too. No student loans, just bad decision after bad decision. The only way is up though! :)

    • Thank you, Hayley. Oh, I have a lot of good excuses and explanations, but what’s done is done. How I wish I knew then what I know now. That is part of my reason for doing this blog. $hit happens but you gotta learn to deal with it instead of adding to your problems with debt problems too!

      I wish you well on your continued journey. I’ll be by :-)

  3. We have consuming debt too – you’re definitely not the only. Huge welcome to the PF blogging world. It’s a great place to share and celebrate debt reduction victories together. And huge congrats on being a new grandma!

    • Thank you Laurie!

      Being NaMa really rocks!

      It definitely helps to know others are going through this too. It’s not the easiest thing to talk about with family or friends ;-)

  4. What a great story! I’ve been blogging for a year now in the PF space and I find that a lot of us in our 50s and older are just now beginning to get a grip on how important it is to figure out what kind of life you really want to live and then build a plan to make it happen.

    My dark financial days were in my early 30’s and I was so lucky to have a mentor lurking in the shadows ready to spill the financial secret beans when my ears were ready to listen. I’ll warn you, once you start on this path, it will become something of a religion and your friends and family may think you’ve lost your marbles!

    It is so rewarding to kick debt in the gut and take control. I know you’ll win because you can if you want to. Like the others here have said, welcome to the blogosphere; I can’t wait to read more!

    Cheers,
    Ree

    • Thank you Ree!

      I dropped in on your blog the other day so got to know a bit of your story. Kudos to you for doing a complete turn around on your finances.

      I do think it becomes somewhat of a way of life, which is good. And because we don’t want to volunteer our opinions on family and friends, we tend to stay silent, unless asked. This is why it is good to meet kindred spirits on these PF blogs.

  5. Hi Debs, I’m a big fan of Gail Vaz-Oxlade’s shows, too. She gives great advice and is so entertaining to watch.

    I wish you the best with your debt. It’s a lot of debt, but it sounds like you’re ready to take it on. :)

    • Thank you Deia. I appreciate the kind words. It takes a lot of courage to face it. I only wish I had done so much earlier, and it wouldn’t be as big as it is. But there’s nothing I can do about that now, only live in the present and look forward!

  6. Hi Debs, Interesting blog! I know exactly how you feel. I woke up to my debt problem when I was made redundant.
    I’m not sure I would be brave enough to have sliders on my blog though as my debt doesn’t seem to be going down!
    Best of luck with sorting it all out, with your determination I’m sure you will succeed.

    • Hi Catherine ~ I’m sorry about your job. My sister has recently gone through this too. Sometimes it takes a ‘crisis’ to force us to take stock and change our ways. Thank you for your kind words. It really helps to get encouragement from others.

  7. Beautiful dragonfly pic. Yours?
    I love them. Seeing dragonflies flicker above a pond in the summer makes me smile. Total bad-asses they are!

  8. Pingback: Mother Money Moments | debt debs

  9. Sounds like a great story! I think we all have found ourselves in way too much debt at one point in our lives. The key obviously is to recognize the problem and start solving it! Sounds like you’re doing all the right things.

    As a relatively new PF blogger, I welcome you to our little corner of the internet :-)

  10. Good luck on your journey. It’s great to see you’ve already made so much progress.

  11. You know I love your blog and I can beat myself for not taking the time to read your story. You are awesome! I’m a fan for life.

  12. Thanks for sharing your story! I like you tagline about no longer having your head in the sand. That’s me! I ignored debt for too long and most of the debt I have is because of carelessness. I’ll be posting my first “candid” financial picture this week, as well as progress as I have a 3-yr plan to get out of debt.

    Thanks for sharing ~ adding to my reader! Look forward to reading more!
    MomCents recently posted…I’ve joined the Yakezie ChallengeMy Profile

    • Thanks for visiting, MomCents – Oh we have lots in common then! A three year plan is great! That’s really the maximum recommended time. Mine is double that at six years!! I’m in my third year now, and I can tell you that if I saw the end in sight now, it would be so much easier. Still, I am committed, so I hope the next three years goes fast and I am in my countdown year before you know it. Good luck to you, you can do it!

  13. Hi Deb, Congratulations on your journey to financial independence – and a huge Thank You for sharing your stories! I admire the time you’re taking to educate others.

    I recently wrote a book that complements many of the ideas you’re expressing in your blog. I’ll mail you a free copy for review, if you’d like. The book is called Outsmarting the System. In it, I share the lessons I learned as an IRS Agent and teach people how to lower their taxes (a person’s biggest expense!) and reach financial freedom. If you’d like to host a giveaway on your site, I’ll also mail a copy directly to the winner. Let me know if you’re interested. Keep up the good work!
    Tony @ Outsmarting the System recently posted…Review of “Choose Wealth! Be a Millionaire by Midlife”My Profile

  14. That’s a seriously scary amount of debt Debs, but it must feel encouraging to see those little blue sliders filling up! Including an emergency fund as part of the plan is a great idea too.
    Myles Money recently posted…Yakezie!My Profile

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