Can you see it? I mean really see it. Can you visualize the day you update your spreadsheet and the total debt balance says $0.00? Does that seem real to you? Do you think you can actually get there?
I read a post over at Get Rich Slowly today- Reader Advice: How to Live Debt Free that really got me thinking about it. I’ve read many stories about people becoming debt free. I’ve heard lots of people call the Dave Ramsey show and scream it. I’m not sure what the difference was, but as I read this post I really thought about it and thought about that being me one day.
I can only imagine what it will feel like to be finally free from debt, and I’m certain it will feel 100 times better than I think it will now, and I already get excited just thinking about it. I really know that I’ll get there. It’s just a matter of time. It won’t be easy, but I have a plan. I never had a plan before. I was just coasting along, spending like a fool, only worried about how to make the minimum payments each month. I was going nowhere. Now I’m going somewhere. There is a reason for everything I do with my money now. I do my best to plan where every dollar will go and I fight to keep every dollar from being wasted on things that aren’t in line with my plan.
You can’t get there if you don’t really know where you’re going. I don’t think I ever understood before what it would really mean to be debt free. It didn’t seem real before. I didn’t know people actually lived that way. If you’re not there yet, you must surround yourself with people who are making that journey or have already completed it. I haven’t yet been fortunate enough to meet anyone in my life who is like that (that I know of), but that is why I take the time to read books and blogs, listen to stories, and write my own blog. I want to get there and I want to help other people get there. If I learn anything along the way I want to share it here.
Right now, I’m facing a mountain of debt- $263,697.62 to be exact. That’s a really big number. It can feel overwhelming to look at. However, I can look at it now without fear. I truly have hope. I can see the day that number changes to $0.00. I have an idea of what it will feel like. I have an idea of what I will do on that day and how my life will change. The few successes I have already had in changing my financial life give me hope that not only is the journey worth it for the end result, but as I make my way down the path my life will continue to improve in many ways. It’s a great feeling to take back control of something that controlled you for so long. I’ve gone too far to quit now.
I felt compelled to write this now so I can remember these feelings when times get rough. I hope that something I’ve written here can inspire others to make the sacrifices and do the work that is required to reach success with money. Let me know if you can relate and please share your stories of what drives you to become debt free.
October 22nd, 2007 at 9:29 am | Dawn said:
It’s cool that you are looking at what can be rather than what was. The past can’t be changed so why dwell on it. (It’s rather addictive once you start making your money serve you rather than you serving your money). You will get where you want to be it just takes time. Don’t you think we Americans get so fixated on immediate results? Correcting past money stumbling takes time!
I have three things that drive me to become debt free. 1.)The peacefulness and sense of accomplishment I will see in my hubby’s eyes. 2.)The personal financial responsibility legacy we will leave for our sons. 3.)The potential to allocate our resources and time to paying it forward … (my secret goal is for hubby and me to join the peace corp and help somewhere).
In closing I think we just have to keep faith in ourselves that we are capable and let go of self-judgement on our past mistakes.
October 22nd, 2007 at 9:58 am | Frank said:
@Dawn- Yes, very true. It has become difficult in our culture to look at long term results rather than short term (usually temporary) fixes. I think that is something I am slowly figuring out. Being faced with as much debt as I have, I needed to understand that the ONLY solution is a long-term solution.
Those are some great debt free goals you have laid out there.
I wonder if it is even possible to become debt free without having specific reasons for wanting to achieve it. Is it the lack of these goals that leads us into debt in the first place? Sort of a chicken or the egg question, but something I have fun thinking about.
October 22nd, 2007 at 6:51 pm | bluntmoney said:
Seeing it is half the battle. Once you do that, and really believe it’s possible, you’ll get there.
October 23rd, 2007 at 7:12 am | Frank said:
Thanks bluntmoney. That seems to be the case the further I get into this.
November 13th, 2007 at 12:05 pm | Mark said:
I’m in a similar boat. I realized the error of my (spending) ways about 4 or 5 months ago. I had about 18,000 in debt, all of it credit card. I’ve really gone through and cut out a lot of unnecessary expenses and now am paying about it down to the tune of almost $1000 per month. It’s a little disheartening to look at my college classmates who have downpayments for houses already saved, but I’m no longer moving in the right direction!
Posts like this help me remember that I’m not alone and that as long as I keep moving in the right direction I’ll get there.
November 13th, 2007 at 6:38 pm | Frank said:
Hey Mark, I can certainly relate. I was fortunate that I bought a house before going crazy with debt, but on the other hand, that is still more debt to deal with too. Recognizing the problem is the first step in the right direction though. Keep at it!