Six Figure Debt

Now that Mrs Bad Spender and I are employed and in the process of debt reduction we have put together a budget to accomplish our goals.  Our goals are to be debt free in 12 months, start contributing to our children’s college funds again, save for a vacation and to begin rebuilding our wealth.  This […]

It’s pretty obvious that we are going to take many years to get to the point where we are debt free.  We understand the road ahead and aren’t overly uptight about it. We see this journey as a series of steps toward a debt-free life.  My debt snowball estimates we will be debt free in […]

Our debt reduction plans took a small hit this week as we were hit with $300. in unexpected medical bills.  It isn’t anything we can’t handle but it put a serious crimp in our debt repayment this month.  Looks like the minimum payments for at least one of the three credit cards.  We will still […]

This is easy for the wife and I, we are very focused on our goals.  They are…..in order!
1.  Eliminate 25% of our total revolving debt.  This amounts to about 25k between January 1, 2008 and December 31, 2008.  We can do this, we are making enough money and have more on the way when our […]

Here are a couple of great suggestions from my favorite site about how to save money and have a great frugal Christmas holiday.
–Trent at The Simple Dollar lists twelve things he’d like to see under the Christmas tree under $10.  I personally love a “memory stick full of memories.”
–We’re in Debt lists a receipe for “Cheap […]

While I attack my debt I am also exploring options to make extra money on-line.  Here are 5 that I have used and have already starting to see a little income from after just a month.
1.  Blogging.  There are many ways to monetize your blog.  The best for me so far is Google Adsense.  I […]

HELOC                              $ 61,622.16
Credit Card # 1                $  15,000.00
Credit Card # 2                $ 11,206.94
Credit Card # 3                $ 21,209.65
Misc. Attorney fees         $ 28,000.00

Debt to be repaid.                 $  137,038.75
A large portion of the money we owe, 40k is a loan that we made to ourselves from our home equity line of credit to start our new business.  It […]

I started this BLOG because I was inspired by a couple of web sites and the writers honesty and willingness to share their stories.  Check them out.  I have made them my first two blogs on my blog-roll.  
It’s been a rough go for me and my family over the past two years, but likely not unlike the trials […]