Who Am I and What Do I Know About Debt?

As the name of this site implies, I am married with debt. This does not mean I am married “to” debt – actually we are getting a divorce!

But seriously, I just recently turned 30, have been married for 7 years, and have two daughters (age 6 and 1.5). I am currently an overworked state employee working for my state legislature, and my wife teaches 2nd Grade in a private school.

A few years ago we seemed to be on the upward mobility trajectory. Then my wife lost her well-paying job as a public school teacher, and our earnings were sharply reduced. At that point I nearly freaked out and lost my mind, preparing myself for homelessness and the soup kitchen. At that time we only had one child, yet I was absolutely terrified – we had no emergency savings and tens of thousands of dollars in debt, including a large credit card balance. We were lucky to land on our feet as my wife found a (lesser paying) job, we never missed a bill payment or did without the necessities.

After the near-disaster, I began to tackle our debt. We paid off approximately $20,000 in credit card debt, but bought $40,000 in new vehicles and took $5000 worth of vacations. Back to square one – or square zero. Now we have paid off both vehicles, have no credit card debt, and are aggressively paying off our student loans, with the next milestone to be debt free (minus the house) in about a year from now.

At the age of 30, my mind is now consumed with dreams of early retirement, and fears of saving for my daughters’ private high school tuition, and whether I will give them any money for college.

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