A Marathoner’s Guide to Getting Out of Debt

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In life, it’s our experiences that shape who we are and how we handle adversity. Most lessons can be applied across the board and help us in ways we never expected. Today I wanted to highlight the similarities between training and running a marathon to the process of getting out of debt. As most of you know — Travis is a machine — and although he faced some challenges along the way while training for his 3rd marathon, on Sunday he completed it and reached his goal. Achieving debt freedom involves some of the same dedication, sacrifice, and intense focus […] Read more »

5 Killer Ways to Make Money, Even in This Economy

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Make Extra Money

Are you needing to make some extra jack because you’re having trouble making ends meet in this difficult economy?  If you’ve already cut expenses to the bone and done everything else you can to use what you have wisely, then here are a few tips you can use to make some extra money that you can do immediately that can help get your bills caught up, and start paying down that debt.  Some of these are just common sense and some you might not have ever thought about, but all of them can make you some extra money to get […] Read more »

Debt Free News #25 – Scraps

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Every debt free story submitted is special. I smile from ear to ear every time I read a new submission. I’m equally as excited about today’s Debt Free News because today’s story comes from someone who has followed Enemy of Debt since the beginning.  It was readers like Scraps that kept me on the path to educating the world about debt and living a debt free life. Scraps is special to me because we have continued to chat over the years and we have often emailed back and forth about things she’s going through or just to chat about something […] Read more »

7 Habits of Debt-Free People

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As an indebted individual I always admire those that live a completely debt-free lifestyle. My in-debtedness is for the most part to what most consider “good” debt; a mortgage and a few outstanding medical bills. My goal is to set up a payment plan for them and pay them all off by this time next year. I cut credit card debt out of my life in my late twenty’s only using credit cards to my advantage and paying the balances in full each month. Living debt free is a lifestyle choice that requires hard work and an affirmation for saying […] Read more »

The Joneses Are Buying an iPhone5. What Should I Do?

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One of the coolest gadgets ever made is about to release the latest version — the iPhone5! All you hear around the water cooler is how your friends and co-workers have already pre-ordered it and are actually losing sleep in anticipation of its release. Your drab, but functional iPhone4 seems like the first phone ever made and the pressure to upgrade is pulling at your purse strings. I absolutely LOVE LOVE LOVE the iPhone! It has revolutionized how we interact and surf the web, interact with our friends and family, and in my opinion is quite possibly the best invention […] Read more »

Short Term Sacrifice For Long Term Gain

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One of the biggest lessons we learned while getting out of debt was that sacrifice was critical to our success. And by success I don’t mean paying off our final debt before we die, I mean paying off our debt as fast as we could SO WE COULD LIVE…NOW! Think about that for a second. People spend money on things they want now (instant gratification), but isn’t that what I was getting by paying down my debt as fast as I could? I was instantly gratified each time I paid down my debt. And now we are definitely living although […] Read more »

4 Steps to Never Having a Car Payment Again

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no car payment

Ever experience that sick feeling when your car payment is due every month?  You realize that you don’t have a much of a choice when it comes to making that payment because you need that vehicle to get to work and run the kids around town. But you knew if you were able to have a paid for vehicle that your family’s finances would be so much easier to deal with.  What if something unexpected happened like getting laid off or an accident/ illness that keeps you out of work for several months?  Would you end up losing your vehicle […] Read more »

Debt Freedom and Optimal Health is Ultimate Freedom!

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I’M KICKING OBESITY’S ASS! Do you want to know how I feel RIGHT NOW? My idea of freedom has been elevated, expanded and has completely evolved into something I never expected. In other words, I thought debt freedom was total freedom but I’m blown away by the ultimate freedom I’m beginning to explore. If you thought I was some kind of freak before (about debt), now you’re going to think I’m a raging lunatic because the freedom I see before me has opened my eyes and has my undivided attention. In My World If you have debt and are not […] Read more »

How Am I Paying Off $109,000 of Credit Card Debt?

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My wife, Vonnie, and I are on a journey to pay off 109K in credit card debt through the help of a Debt Management Program. We started our journey in July of 2009, and are expected to be rid of this behemoth mountain of debt in March of 2014. Some of you may be wondering, what exactly is a debt management program (DMP)? There is a lot of misinformation about the debt relief industry floating around, so I felt it this would be a great forum to explain what a DMP is, and how it is helping my family get […] Read more »

“Back to School” Make Every Dollar Count

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As much as we wish to preserve their innocence and keep them young forever, kids grow up before our eyes and their expenses often grow with them. “Back to school” season is upon us and added expenses ranging from new clothes, supplies for the classroom and extracurricular activities can throw a monkey wrench in your finances if you are not prepared. The National Retail Federation’s 2012 Back-to-School spending survey found that the average person with kids in grades K-12 will spend $688.62 on their children, up from $603.63 last year. If you have school age children, “back to school” can […] Read more »

This is Why You Overspend!

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This is Why You Overspend

Overspending is something that most all of us have been guilty of at one time or another.  But when you overspend on a regular basis, it can put a real dent in the amount of money you have to spend on the things you need, not just the things you want. If you’re someone that tends to overspend often and then discover you’ve made a bit of a mess financially, it’s probably wise to start doing a little digging and try to discover just why the overspending is happening in the first place. Know Why Overspending Happens When you know […] Read more »

Impulse Buys Make You Feel Good, But At What Price?

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According to the 2012 Shopper Engagement Study, we as consumers make grocery shopping decisions in the store at a rate of 76%, causing us to spend more than originally intended. Even with the best laid plans, coupons, shopping circulars, and a specific list statistics show we are drawn to spend more. Research shows tough current economic conditions cause us to “splurge” at the grocery store for psychological reasons we don’t even realize at the time. As I pondered that thought I realized even someone who considers themselves financially savvy like me can be a victim. Reasons why we fail… Marketers […] Read more »

6 Credit Card Lies We Believe

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credit card traps

Over the course of the last generation or so, we as Americans have changed our habits and now use credit cards as one of the primary tools for purchasing.  But when you use credit cards, there are several problems you should watch out for when it comes to being a user of that “convenient” plastic. As for me, I think credit cards are not necessary in order to get by in everyday life.  The convenience of using plastic is not beneficial enough to offset the potential problems that credit card use often brings. In my opinion, there is not a […] Read more »

Should you give your kids an allowance?

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Allowance divided

As someone who has worked so hard to pay off $62,000 in debt in four years and is now living a debt free lifestyle, I sometimes worry about how I’ll pass on a debt free legacy to my children. How can I teach them about money so they don’t make the same mistakes as their parents? So far, I’ve spent a lot of time modeling good money management to them and talking openly with them about money. I’ve resisted giving my kids any kind of allowance because I didn’t want to send the message that they are entitled to anything. […] Read more »