Why Have I Started “Married With Debt”?

Since this is the first post, I may as well explain why I am even doing this. There are three main reasons:


1. To give myself something to do as I pay off debt

2. To help others see how they can escape debt slavery

3. To see if readers can help me plot my financial future

Give myself something to do as I pay off debt:

First, let’s have a confession – I am obsessed with my financial situation. I look at my personal finance spreadsheet every day. It tracks my bills due and bills paid each month, and I use it to track all of my non-bill expenses such as groceries and entertainment. It also tracks how much debt I owe.

I am loosely following Dave Ramsey’s 7 Baby Steps plan, as well as his debt snowball approach to eliminating debt. I have chosen to do this instead of investing, because I want to be free from the grips of creditors, and also because having debt is like having a negative investment – if you carry a balance on a 20 percent credit card interest rate and you are investing in stocks at 5% gain, you are losing out. The interest you owe is wiping out any gains

For those who follow this debt snowball strategy, especially those with a lot of debt, it can be a slow process.  I have been working on it for years, with a few slip ups (wedding bills, international vacations, new cars). This blog will give me a chance to share my progress with you, and provide place to channel all this anti-debt energy into something productive.

Hopefully it can fill some of the idle time between the two days per month on which I pay my bills and reduce my debt.

Help others see how they can escape debt slavery:

For a few years now I have wanted to help people organize their finances, determine their goals, eliminate their debt, and reach financial independence. We live in a changing society, and we no longer have to follow the old “rules”of thumb that convince us we need to work only for the purpose of acquiring debt to rent a lifestyle we can’t yet afford.

With the lingering economic recession, more Americans are realizing that financial security is more important than Stuff. It is my intention to be transparent with my debt, spending, and what I am doing to improve.

See if readers can help me plot my financial future:

This is where I admit that I am not prepared for the future. I have generally shunned saving in favor of debt elimination, and within 12 months I plan to be debt free (except my mortgage). I already have no credit card debt and carry no balances, and we have two paid-for vehicles – all that is left for now is two student loans totaling $16,000. But I need your help on what to do when I reach that point next year when the student loans are gone, and a major cash flow opens up.

Thanks for reading and joining in on this voyeuristic journey.


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60 thoughts on “Why Have I Started “Married With Debt”?

  1. Great reasons to start blogging, and they’re very similar to my own. I started talking about my finances and getting out of debt, and most people looked at me like I was insane. So I figured I’d go to the internet, where surely I could find SOMEONE who wanted to talk money! Blogging has been a great outlet for me and I hope it continues to be one for you as well.

    Okay, time to get rid of the default comment now. 🙂
    Andrea @SoOverDebt recently posted..Weekend Reading: I Bleed Blue EditionMy Profile

    • Thanks for reading James. I hope you take a look around at my newer stuff. That Twitter post was a “blast from the past.” But it is nice for me to look back and remember why I started this.

  2. I love the idea of goal setting and being able to gather ideas on how to reduce debt. Hope to be totally debt free sooner than later!

  3. We are planning to pay off our credit cards by the end of the year and then on to attack the student loans. I can’t wait to get this monkey off our back so we can move on to the dream of owning a home, I miss having a place that is truly my own. Thanks for helping keep me motivated!

  4. I have been working Dave’s baby steps for a year now. Paid off two items and now tackling a third with a bigger snowball. Also realized I was getting too much back in taxes so took some exemptions and throwing the extra money onto debt. I update my excel spreadsheet almostly daily – i’m the nerd 🙂

  5. Thanks for creating this blog and helping to inspire me! I have about 8k left in student loans before I am debt free. I hope to have the paid off by the end of the year.

  6. I’m a new member..just joined. I’m not married but am a single parent with debt I would like to work on getting rid of. I’m also a fan of Dave Ramsey & have read a few of his books. He offers good, sound financial advice. Looking forward to reading your newsletter!
    Kim recently posted..Early Retirement ExtremeMy Profile

  7. Hey there. I’m here for some cash, but I have also enjoyed your blog. I appreciate your blending of Dave Ramsey concepts with more radical steps to get out of debt slavery, ala ERE. So give me 50 bucs!

  8. Enjoy reading your post. I share your quest to be debt free. The only thing I’m interested in buying is freedom to choose my own path.

  9. I need to really start cutting up my credit cards, and getting out of debt. Your blog looms great I love it! Thank you so much for the giveaway I really appreciate it!

    chrisziegler69 (at) gmail (dot) com

  10. Yay! Someone else who’s as obsessed with their personal finances as me. 🙂 I’m excited to see what you do and will be catching up on your site!

  11. We’re also “married with debt” and slowly climbing our way out. I’m excited to be able to get out of debt and onto investing!

  12. Seems like we are on same plan. I, too have had some setbacks, – having a baby, previous relationship financial drama, – but we REALLY want to be debt free and are trying our best to stay on track.
    We battle the inner voice that says we should have more stuff or should live a certain way – and sometimes it wins – but in the end we want to set up a stable financial future for ourselves and our son.
    Thanks for sharing!
    Jessica DeWitt recently posted..Missing in Action…My Profile

  13. I’ve been working on the snowball method as well. It’s difficult when you are trying to go to school and work part-time. Keep up the good work!
    Zach Younkin recently posted..ebatesMy Profile

  14. I’m also heading towards being debt free. Slowly but surely, it’s happening.

    Good luck towards your debt free future.

  15. I’m working on paying off my debt, too. It’s great to hear from other people going through the same things

  16. Thanks for starting this blog! Sometimes I feel like freedom from debt is never going to happen for my husband and me, but reading your tips and seeing your success is helpful.

  17. Over the last few years I get more excited about saving than I do about spending. The exact opposite of how I lived in my twenties!

  18. Excellent post! I read it aloud to Glen and he really enjoyed it…laughed out loud at this statement: “we need to work only for the purpose of acquiring debt to rent a lifestyle we can’t yet afford.” He said, “He’s a good writer and I enjoy his way of thinking.”

    We’ll join you in getting out of debt! Thanks for this great blog! 🙂 Glen & Shirley

  19. I must say this is a different kind of blog than I normally read. But I am interested to see how exactly you get out of debt.

  20. Good luck with the blog! Don’t stare at your spreadsheet too long though. I used to obsess over mine playing “What if” scenarios constantly. Now I make sure I just put in my daily expenses and do any analyses at the end of the month.

  21. Love your blog! Maybe I’ll win this giveaway. I’m so tired of debt slavery. But I’m in it for the long haul unless I win the lottery 🙂

  22. Thanks so much for the blog. I’m following your twitter to stay up with everything and learn how to become debt free quicker. 🙂

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