Hello, and welcome to Enemy of Debt. I just want to let you know that if there is any topic you want to see covered on this series please leave your thoughts in the comments section. I will do my very best to find 10 of the best posts on that topic.
Hello everyone. Time for another Debt Free Friday!! Today we have with us the author of Debt Free Hispanic. Be sure to check out Fabian’s debt free call to the Dave Ramsey Show. It’s debt free calls like this that kept us motivated throughout our journey. As I’ve mentioned before those calls are why I wanted to start this series. Actually, it’s not the first time I tried putting something like this together. The first time I was a little too optimistic with what probably amounted to 10 or so readers. It was only my 5th post, but I sure was pumped up!!
Fabian has me wondering why I have not called the Dave Ramsey Show yet. You’d think I’d be all over that right? I may surprise you here soon with a real debt free scream from Enemy of Debt and the Fam! Stay tuned!
Oh yeah, today you will not see much of me, it’s my wife’s birthday!
Fabian’s Debt Free News! ENJOY!
I have also put together a page, where YOU can fill out the Debt Free Questionnaire.I’d love to share your story.
The Enemy of Debt Questionnaire – Debt Free Hispanic
How much debt did you have and how long did it take you to pay it off?
The highest debt I have ever had was $21,000. My wife brought in about $1,000 of that and the rest were from my school loans and business debt.
How does becoming debt free actually feel? Does it feel better than you imagined it would?
Being debt free feels liberating. I can breathe a lot better. The feeling is overwhelming sometimes, just knowing that every check I receive goes into my bank account and stays there until I choose to spend it.
What were some of the struggles that you had to deal with along the way? Was there ever a time where you almost gave up?
The struggles came when I wanted to pay off my last $5,000 because that was about the time that I was wanting to save up to buy a ring so I could propose to my girlfriend, who is now my wife.
What would you consider to be the most important key to becoming debt free? What helped you the most?
The key to getting out of debt for me was traction. When I sold a bunch of Houston Astros jerseys on eBay that I was collecting. That money helped me to pay off some smaller debts so that I could have those small victories. What kept me going was that I was constantly telling my girlfriend how much I was paying off month after month.
It seems a lot of people have bought into the idea that debt is essential in order to prosper, what do you have to say to those people?
I’ve never been wealthier in my life than I am now and it’s all due to cutting up credit cards and paying for everything I own with cash. Credit does not lead to prosperity, it leads to a financial crisis.
What was the biggest sacrifice you would say you made in order to become debt free? What about you changed the most?
During 2007, most of my income went to paying off debt. It was hard to see all that money go straight to banks. It’s always easier to get into debt than it is to get out of it.
Did your friends and family give you a hard time about your new mission to eliminate the debt from your life? If so how did you deal with it? Do you think you inspired others by your journey?
Yes, people didn’t understand why I would want to drive a paid for vehicle. They didn’t understand why I had to bring my lunch every day just so that I could pay off more debt. But that’s okay because today I’m debt free and I continue to build wealth since I get to keep my income.
What is next for you? What financial goals do you plan to accomplish?
Next I want to speak to different people groups of all ages about staying out of debt and how their lives could change if they break the habits of using a credit card to pay for their purchases. I plan to continue building my income by adding multiple streams of income. I will continue blogging as Debt Free Hispanic so I can reach as many people as I can with the message of living debt free. I want to be able to make enough money to stay home with my wife and one day raise children. I want to be able to give away money to students so that they can attend college but I want them to learn about staying away from school loans.
Hey everyone! Since yesterday’s post was so long, and I have two posts for you today, this one will be brief. I just wanted to talk about something that I have been thinking a lot about lately. GETTING RID OF STUFF! I have come to realize that you actually have more by owning less. Getting rid of stuff is almost as liberating as paying off debt. And of course, just like with our debt, it took us a while to realize that it needed to go.
We have recently decided to put our house on the market. That’s right, if you’re like me when you hear that, you’re thinking COMPLETE debt freedom. We’ll save the “it’s better to own than rent” talk for another day, even though I would love to point out why that’s not true on so many levels.
Last week, we were running around at crunch time trying to get rid of as much of our stuff as possible. Why? Well, for one we know we have too much crap, and secondly, this is the first time we have ever sold a house while living in it. So you could say that it was our decision to sell our house that forced us to do the dirty work a little bit sooner. My wife entered about 180 items in a local consignment sale, we gave Goodwill about 8-10 BIG bags of toys and clothes, and took to the dump, a whole truckload of crap.
We feel the benefits already, and we are excited to take it to the next level. We still have one major room to go (the office), and a few spaces here and there to hit with a fine tooth comb. I wanna get rid of anything that I have not seen or used in the last month. Now my wife is not quite that hardcore, but she is definitely on board. Like with our debt, we are sick and tired of being sick and tired of being…surrounded by stuff.
Ironically, my son has been walking around the house singing the Bare Necessities of Life song from the Jungle Book movie. He did not like the prospect of becoming a minimalists at first. He was rather upset, so we talked. We talked about how much stuff he had, how much stuff he would still have, and that another kid would be able to have some really fun toys because of his kindness. Pretty soon he was carefully digging through his stuff picking out things he could put in the bag, but also paying real close attention to what mom and dad were picking up.
ME: “EVERYTHING GOES! Arggghh!!” (except for his beloved Lightning McQueen toys of course.)
HIM: “No daddy pleeez, any toy but that one…take this one pleeeeeez!”
ME: “That’s quite enough son, get in the bag!” LOL (totally kidding)
Well come on, Dave Ramsey does say, “get rid of so much stuff the kids think they’re next.” How else would we make him think he’s next? haha!
The next day Isaac was collecting a pile of books. When I asked him what they were for, he said he was giving them away so another little kid could read them. Isn’t that perfect? Maybe he won’t act like that every time, but for a 3 year old to part with any toys at all can be a challenge. Let’s hope my micro-minimalist remembers the song he was singing earlier this week. I’ll have to remind him about the bare necessities of life if he starts to give me any lip.
So that’s all I have for you. Tomorrow don’t miss a brand new Debt Free News From A Debt Free Reader featuring Debt Free Hispanic. For those still in my Manage Your Money challenge, you need to leave your comments to enter by midnight tonight. The challenge has been great and the ones that are participating are making great strides. Won’t you join them?
Don’t forget to vote for yours truly in the Plutus Awards for BEST DEBT BLOG of 2009! See you tomorrow!
Yesterday in a comment left on EOD, I was introduced to this website. I thought it looked interesting enough to share with all of you. Thanks Jude!
The American dream is no longer about finding a 9-5 and doing what you hate in order to make it to that retirement utopia you’ve always been told about! Nope! It’s about doing what you love and loving what you do. It’s about using your passion and your strengths to enjoy your place in life—to make a difference. As this video points out; “The time is now to say YES to your success…what are you waiting for?”
What are YOU waiting for?
If you are one of the many, that hate your job, start brainstorming now! If money was no object, what would you do? Next figure out how you are going to make it happen. I did, and my plan is unfolding nicely.
No…You Don’t Have To Go Book A Flight To Learn This
I know what your thinking. “How in the world can an in-flight safety handbook help me financially?” I want to focus today on one specific part of those instructions. Skip ahead to the part about securing your oxygen mask in case of changes in the [...]
WOW! Out of the 44 that signed up, only 12 showed up, leaving 32 people MIA. That’s alright though, there is still a chance to redeem yourself. Don’t give up before you even start! How are you going to change things if you don’t do the work? I know it’s hard! I know you’re scared! [...]
Welcome, and Happy Sunday! Consider this new series to be a “best of” carnival of sorts. Every time I post the I Love You…Like a Blogger series, I will include the best 10 articles I read during the week.
This week, I have decided to focus on blogs participating in the Yakezie Challenge. I am looking [...]
Hello everyone, Happy Friday! As you know I have been trying to put together this book review for a few weeks now. I have been very excited about sharing my thoughts on this magnificent book. Most of you will already know that I am a huge fan of John G. Miller’s work, and have talked [...]
One of the most common phrases that people use to validate wasting their money is that they “only live once”. Without getting into any theological and philosophical arguments, let’s just assume that statement is true. You only live once, so my question to you would be this. What are you waiting for?
What does it mean [...]
{{{{{{Trumpets Blaring}}}}}}
I am very happy to announce that we currently have 40 people participating in this challenge, including myself. That is AWESOME! New sign ups will be permitted until midnight on Wednesday March 3rd. If you know any procrastinators out there that planned on joining you better let them know. [...]
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