Welcome to Debt Reckoning, home to the chronicles of my personal mission to rid our family of the evils of debt, in all forms. I also hope to insipire others to do the same.
Over time, I’ll share updates of our journey to debt freedom, and pass along the things work, and a few that don’t.
Along the way, I also hope to learn more about the world of personal finances and investing (so I’ll know what to do once my debt is paid off).
Here are just a few topics I hope to cover in the first few weeks:
- Should we pay off our mortgage early?
- Should we pay off our car loan, even though it is financed at 1.99%?
- Do interest rates matter when ordering debts for pay off?
- Should we pay off debt or invest for retirement?
- Is it OK to continue using credit cards if we pay them off every month?
- Ways to save money around the house.
- How to increase your income.
Getting out of debt is tough – no doubt about it. But reducing debt is really just a function of spending less than we earn, and applying the rest towards our debt.
Of course, results come quicker for those who are able to increase their income and cut their expenses even deeper.
For that reason, a good portion of my ramblings here will be focused on both sides of that equation – finding ways to increase our income and finding ways to lower our expenses.
A larger part of my mission is to spread the debt free message to other families in the hopes that the idea will catch on and spread across our country.
We have survived, as a nation, far too long on borrowed money, and the day of “debt reckoning” is surely in our future.
For that reason, some of my writing here will take on a preparedness approach, as I believe every family has a responsibility to prepare for rainy days, because friends, the storm clouds are on the horizon!
Hope you will follow along here DebtReckoning.com, either by dropping by the site each day, or subscribing for free to our feed, or via email delivery.
Please feel free to leave comments and join in the discussion.