Day 1| Paid: $0 | Remaining Debt: $63,117.27
I am in debt. Bad debt. Crushing debt. Yes it could be much worse, but it never should have happened in the first place.
So this year I am on a mission to erase my debt. I want to crush it and completely destroy it.
I would love to say that my goal is to be 100% debt free by December 31st, but that is unrealistic and improbable. That is a stretch goal that I am going to try like hell to reach.
I do have other personal and relationship goals that need to be achieved this year, and those all have a financial cost which has to be factored in as well. However I think I have a plan to destroy the vast majority of my debt this year, set myself up to easily pay off the remainder in 2023, and still achieve my other goals in the meantime.
I don’t except anyone to actually read this blog. This blog is primarily to hold myself accountable. Perhaps someone will discover this and it inspire them or help them destroy their own debt. I do hope that happens, but even if it doesn’t I am looking forward to documenting my progress here.
Over the next few days I will be giving an overview of my financial situation and my plan. We will start with my debts, then take a look at my income, my expenses, and my plan to decrease expenses, increase income, and pay off my debts. I expect I will post fairly frequently for the first week or two, and then this will become a weekly or perhaps monthly log of my journey.
I am not a financial genius (otherwise I wouldn’t be where I am today) and I have no background in accounting, finance, or business so I suspect that I will occasionally use improper terminology, forms, formulas, and processes. Please forgive me now, I am still learning, and I am open to feedback, suggestions, and improvements. Ultimately though this is my own journey, and the process I am going through to achieve this goal needs it to work within my own knowledge, skills, experience, and psychology or else it won’t be achieved.
Join me tomorrow where we will take a closer look at the debt I am trying to destroy, and you will get a better sense of how f*cked I really am.