Debt Free News From A Debt Free Reader #15 : Enemy of Debt

Happy Friday! Sorry for the delayed post but last night was spent celebrating Noah’s first birthday. We went on an intense hike on the Blue Ridge Parkway here in Virginia, and I was pretty beat last night. It was a fun day though and definitely worth it!

Now let’s get to business. Becoming debt free is no less fun!

Our next submission comes from someone I have known since taking on my own debt free journey. We have kept in contact over the years and now he is finally debt free himself! Congratulations Chuck! It was a long hard fight man but you did it!! I’m proud of you dude!

Welcome to an exclusive club joined by a minority of people. You are officially weird dude!! Welcome to Weirdville!!

Enjoy Chuck’s debt free story!

The Enemy of Debt Questionnaire – Chuck

How much debt did you have and how long did it take you to pay it off?

I know compared to a lot of people out there it may not be much but I had $ 14,000 in credit card debt. To reach the point of debt free except the house has been roughly 3 years.

There have been bouts of relapse using credit and I also chose the non DR path of continuing my 401k contributions the entire 3 years.

How does becoming debt free actually feel? Does it feel better than you imagined it would?

It is a comfort knowing my only debt is just my mortgage. It is still too new of an idea for me to really know the full scale of my accomplishment. I can say I play it over in my mind that next month my payments will now go to me and not a bank bleeding interest off me. I will be from here forward paying myself to further my own financial success. That is a peace of mind that is totally mind blowing, and a first in my life.

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?

Like I said in the last question, there have been lapses in using credit cards. I would use a card for something I really thought I could do without only to realize when the bills came in how long I distanced myself from the finish line. I also had one big Murphy visit when my furnace died late last winter. With only a baby emergency fund of $1000.00 and facing a $3000.00 replacement bill tested my resolve pretty good. Fortunately, as it does with those who work the plan, things usually work themselves out. I used my emergency fund and placed the balance of the furnace bill on a credit card. The beauty of it was my work bonus was to come in time to pay off the credit card totally just 2 months later.

What would you consider to be the most important key to becoming debt free? What helped you the most?

Having the resolve to know deep down the results are worth it. Fighting the long process of working the program. I still listen to The Dave Ramsey show even now. It is a great way to hear that you can do it. Others have become debt free and hearing their excitement on the radio gives you the strength and encouragement to know you can too.

Being the tortoise is not fun or glamorous and takes will power, but you must find it within yourself.

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?

If you’re young I would say the quicker you start on a credit free path the greater your rewards will be later in life. I know you have been bombarded with all kinds of conflicting ideas of how to use money but take a real look at Dave Ramsey’s plan with open eyes. See what it can do for you.

If you’re older like me, I would tell you it’s never too late to start. Wisdom tells us it can not be a good thing to be living with so much debt the closer we are to what should be our golden years no mater what your standing in life. The only thing golden is the banks pot which you feed with interest.

What was the biggest sacrifice you would say you made in order to become debt free? What about you changed the most?

Giving up going out with friends. Taking vacations or trips.

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?

Somewhat. Some wondered why I didn’t spend like others do. Some wondered why it seemed I never had any money. A few friends from work knew what I was attempting and I think my example has peaked their interest and possibly changed their views on debt.

What is next for you? What financial goals do you plan to accomplish?

My next step will be to fund a full Emergency Fund of six months expenses. Second is to pay off the mortgage in a 6 year plan while cash flowing some renovations to the house. Third, give like no one else.

photo credit

Debt Free News From A Debt Free Reader Series

More to come…but only if I get some new submissions! 😀

The Enemy of Debt Questionnaire – Chuck

photo credit

Debt Free News From A Debt Free Reader Series

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