The thing is that I really don’t know who reads this blog. People will sometimes tell me they read it and I am always surprised.
As I was writing my posts for this week, I started wondering if there was any part of this story I’d left out or anything I’d said that left people with more questions than answers. A big part of this whole process was going public with my debt, the point of which was to admit to myself that it was a problem, and I can’t think of any part of it I’m not willing to talk about.
So, I guess this is one of those posts where I ask you to ask me questions. Here in the comments, by email, or click here if you want to ask anonymously (that will take you to tumblr, but I’ll answer here).
Anything about how I got into debt, how I’m getting out, student loans, paying for grad school, working too much, why I still have an expensive cell phone, or whatever. And don’t worry about being nosy, because I’ve already put all of this information out there and I don’t mind talking about it.
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We know when you decided to get out of debt and when you realized it was out of control. At what point in your growing debt, you decided to ignore it?
Secondly, may I buy you a blue moon when you’re out of debt?
How do you decide which things you want are necessary (like cell phone) and which are luxuries that you won’t buy until you are out of debt?
You probably explained in the beginning, but I’m curious how you got into debt. Did you buy hard goods like stereos and fancy shoes, or were you _that_ broke during college that you simply were forced to buy groceries, books, etc. on credit. I know that many landlords don’t take credit cards (nor do student loan organisations), which are my biggest line items each month.
Obviously, you’re a smart girl, so I’m genuinely curious. (I reckon most people get into debt because they genuinely don’t understand how it works. They think it’s free money, or at least have never taken Calculus.)
I actually have been curious about the student loans part of it… maybe I missed it in the beginning but I’m not sure if you’ve ever said how much those amount to? And after the credit card debt is gone will that be documented here or what are your plans for how to tackle those?
It’s Google Reader’s fault, I swear. It’s so easy to read without commenting.
I started reading this blog because I read your other blog, and even though I’m not in debt myself, I enjoy hearing your strategies for spending less and saving more. Or, I just want to see you kick Debt in its scrawny ass.
I can’t think of any good questions, so I’ll ask this: Aside from “not getting into debt in the first place,” is there anything you would have done differently on this journey to get out of Debt? (Sorry—I’m terrible at asking good questions!)
Do your co-workers know you’re in debt?
I’m paying off the often-ignored balance on my card. I feel guilty for going out for lunch with co-workers because I could be saving that money; however, I feel silly for fibbing about the constant brown-bagging. I don’t want to explain my situation because it’s A) embarrassing I got myself in this mess and B) I don’t want them to think I’m an irresponsible person/employee.
Should personal finances be discussed in the workplace?
Hi! I found this blog through your other blog when you were featured on 20sb. I actually do not read the other one but I follow this one because you and I are in the same boat. Without even going into my student debt load and just credit cards, I’m sitting on about $8,000 in credit card debt. (I just paid off my tiny $500 card a few days ago). I would love to be able to do what you do and pay it down, but I feel like I have so many obstacles. So I guess, what does your budget look like? Where did you cut the most? What about hanging out with friends? Unfortunately for me I’m very stretched because I’ve graduated grad school and have yet to find a decent paying job to help me pay down my bills. I don’t spend on my credit cards anymore but I can’t seem to bring them down, either. I really admire your success so far.
How do you have time to work so much and get any research done? In my program at least, grad school is all about the research and coursework is just an annoyance. I can’t imagine working 20+ hours a week and having the time to do 40+ hours a week of research.
I’ve been reading your blog for a while now and when you mentioned your new debt blog, I just began reading. At first I read out of curiosity, but now I read because I can relate.
I’ve managed to get myself into debt as well. Honestly I have no excuses as I don’t have any student loans and was taught finance by my dad from an early age. But none-the-less, I’m in debt and working my way out. The hardest part was admitting I was in trouble.
Here’s my question though. How do you manage to only put a limited amount towards your debt each paycheck? Is it because you don’t really have any money left over with bills and necessary expenses?
I like to leave a buffer amount, but at the same time I really want to get out of debt as soon as possible.
I think I found a link to this blog through a 20-something-blogger page. I felt like we kind of had the same attitude (all or nothing) about money from the featured post that day, so I read all of your archives and now check back every once in a while. I think I’m what bloggers call a “lurker”.
Like I said, I think we have some similar ideas, but my life is kind of opposite: I’m a married 20-something done with school (thankfully with only a few thousand in student loans), with 2 car payments and now a mortgage. We only have huge pieces of debt (2 cars totaling about $22K, $6K left in student loans, and now $118K in a mortgage even after our 10% down payment. In our case, we pay double the minimum on the student loans and round up to the nearest 50 mark on the cars and mortgage. My question is, what do you recommend for people in this type of situation?
I just feel like even with Dave Ramsey’s gazelle intensity, our debt items won’t go away quickly. We are throwing most energy into saving (I really want to be a SAHM), so we’re saving a little more than 20% of our combined income each month for that to be possible in the near future. Sometimes, (esp. around the DR followers) I feel guilty for not putting more toward the debt, I just feel like we’re already paying more than required, so I’m okay with spreading it all out instead of focusing on one thing to get rid of. So once you’re done with the credit card debt, do you think you’ll save with the same intensity, or kind of level out?
For someone who is currently in debt now, what advice can you give to someone who wants to start taking control over her debt? I don’t have the finances to put a huge amount towards my bill every month but do want to take control in some way.
I actually had another question… sorry! I think you mentioned before that your family doesn’t know about your debt right? Do you think you’ll tell them at any point, or when you’re out of debt all the way?
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