Revisiting the Introductions series in my blog, my intent to introduce you to bloggers whose stories and/or advice I have enjoyed or found most helpful. Frugal Dad is one of my favorite PF bloggers around. His advice is wise and sound, but really hits home with a lot of topics that are interesting to me and many other everyday people. His posts focus not just on finance, but on the real life applications of the decisions involving finances.
I recently exchanged emails interview-style with the Frugal Dad. This is the story (did you just hear the Law & Order "dum-dum"? I did)...
Me: Please tell my readers a bit about what Frugal Dad is all about.
Frugal Dad: FrugalDad.com started nearly three years ago as a sort of catharsis - a chance for me to get years of financial frustrations off my chest. I used to work in the financial industry and saw first-hand the pain caused by being buried deep in debt. Despite those examples, I followed a similar pattern, borrowing debt to go back to school, living a spendthrift lifestyle, and basically wasting away my twenties. Fortunately, my wife and I survived, financially, had two kids and decided at 30 it was finally time to grow up.
Me: You mentioned your work in the finance industry, you have an interesting perspective on debt since you once worked there. Can you give my readers a little insight into what goes on behind the scenes?
Frugal Dad: Most people think that credit card companies are essentially soul-less entities whose primary mission is to make as much money from customers as possible. They're right. Actually, that's not entirely true. Some credit card companies are worse than others. I worked mostly in back-office operations and software development, but my interactions with marketing and other executives affirmed my belief that 90% of the company's mission was to dream up new fees they could legally add to cardholder's statements. Yes, I happen to have worked for a particularly lousy credit card company, and the predatory practices, fees bordering on usury, and general lack of a corporate moral compass caused me to quit the company - the entire industry, in fact.
Me: Wow...I cannot imagine working in that type of environment. You also mentioned your personal debt story. Did you have a big uphill climb out of debt or was it relatively painless?
Frugal Dad: We had a relatively small climb to get out of debt, compared to others, but it was still plenty painful. During our journey to debt freedom we had our second child, changed jobs, relocated, I lost my mom at 53 after a year-long medical and financial crisis following a stroke, and of course there was the Great Recession. At times, things got pretty lean. But we fought, we clawed, and we pulled it off.
Me: It seems that everyone's story of debt freedom has some of Murphy's Law involved. Based on your experience, what method of debt elimination do you recommend personally?
Frugal Dad: I personally recommend the 80-hour workweek method. The fact is, it doesn't matter whether you snowball debt, tsunami debt, make two payments a month, or tackle the high-interest debts first, the most important thing you can do is increase your income. Easier said than done. During our journey to debt freedom I wrote freelance articles, started my own blog, answered surveys, mowed yards for friends and family and tried (unsuccessfully) to land a part time job. Actually, I'm glad the part time job thing failed because it left me more time to pursue becoming an entrepreneur.
Me: Ahhh...you really hit on the root of the solution. Do you find people feeling pity towards you since you are not suckered into the debt-dependent life that so many in our culture adhere to?
Frugal Dad: Five years ago, yes. Now, being frugal is all the rage. Actually, I think attitudes have shifted such that people tend to feel sorry for those out collecting material items to fill some void in their personal lives. Internal happiness and contentment are the new envy. Unfortunately, I'm not convinced it will last.
Me: I know...maybe people (including me!) will learn and stick with it, but that's really not human nature, is it? On Frugal Dad, what types of posts do you find elicit the most responses from readers?
Frugal Dad: Kids and money posts are always popular for getting the lurkers to join us on the comment threads - particularly anything related to allowances. I never realized people had such strong opinions on allowances!
Me: That's funny! What do you personally enjoy writing about most?
Frugal Dad: I especially enjoy writing about family preparedness and self-sufficiency. I'm not a Chicken Little by any stretch, but I do think it is prudent to take some actions to better prepare your family for emergencies. To what extend you take that advice is up to each individual family. Some will save a couple hundred dollars at home and maybe put up a few cans of vegetables. Others buy thousands of dollars of dehydrated foods and build a bunker in their backyard filled with gold bullion and gallons of water. Like everything, there's a balance somewhere in between that works for most families.
Me: What's next for Frugal Dad?
Frugal Dad: I used to have grand visions of quitting my day job, blogging full-time and writing a book. Then I realized that blogging was still fun, and if I had to do it for several hours, every day, to put food on the table, that it would start to look too much like work. Besides, since my wife is a stay-home mom, having two income streams helps keep us more diversified. I still kick around the book idea, but it’s a lot of work, and for now I’m content sharing ideas at the blog.
Me: That's quite practical and well thought out! Who are your favorite bloggers to read? Where do you draw inspiration from?
Frugal Dad: The first blogger I read in the personal finance blogger space was Trent Hamm at The Simple Dollar. While recovering from rotator cuff surgery one December, I stumbled upon The Simple Dollar and was immediately hooked. I think I spent the better part of two days reading every single post available in the archives. Since then, I've discovered several other great bloggers that I read almost daily including J.D. Roth from Get Rich Slowly, Brett McKay over at The Art of Manliness, and anything Philip Brewer posts - but mostly his stuff over at Wise Bread. I’m also lucky to be part of two blogging networks with a number of skilled writers, The Life Skills Network and The Money Writers. I’m the junior member of that latter group, which tells you a lot about the quality and longevity of the other eight member bloggers.
I am sure that the Frugal Dad would love to see you over at his site. You can add some comments about allowances if you want. =) Of course you can always bookmark him or search for him, but once you visit and find the great posts there, you are likely to subscribe like I do! You can choose email or RSS feed. Also, don't miss reading his e-book, The 7-Day Turnaround: One Week to Change Your Family’s Financial Future. You can also follow him on Twitter or Facebook. If you want to totally stalk him, you can do all of the above. Now stop reading here and go check him out!
Showing posts with label Introductions.... Show all posts
Showing posts with label Introductions.... Show all posts
Thursday, July 15, 2010
Thursday, May 27, 2010
Introductions...J. Money from Budgets Are Sexy
In this (recently neglected) series of interviews, my plan is to introduce you to bloggers whose stories and/or advice I have enjoyed or found most helpful. Budgets Are Sexy is a fun, sometimes snarky, but always informative blog that so often feels like you are having a discussion over a cup of coffee with its author, J. Money, rather than reading a blog. The posts are full of information and real life-application type stuff while allowing you to feel as if you are not reading a textbook on finance (gag).
I finally got a chance to virtually "sit down" with J. Money (okay, so he doesn't really sit down a lot...he's not really content with being still it seems) via email and talk. This is the result:
Me: I really appreciate you talking with me about your blog. Please tell my readers a bit about yourself and what Budges Are Sexy is all about.
J.: Budgets Are Sexy is all about making finance un-boring :) There are a lot of great sites out there that dish knowledge and statistically correct ways to save here and cut debt there, but I learn a lot better when entertainment is mixed in more - and hopefully others do too!
Me: Honestly...that's one thing that locks me in as a subscriber. I can't handle the textbook type stuff; I need something readable and you've got it. What keeps you motivated to continue writing your blog?
J.: Oh man, I just think it's fun! It's like you build this entire site from scratch - all from your brain - and then people read and respond to it! Haha...Plus, it's yours to keep. It's really a product you're building out there. I think it's great that we're helping people too. I don't get any sense of accomplishment with my 9-5 job, so this blog really breathes some life into me. Now if only there's a way to go full time!
Me: I know what you mean by not feeling a sense of accomplishment at work. I envy those people who LOVE to go to work everyday. What do you think would bring that joy? Blogging full time?
J.: Oh yeah, I'm pretty sure blogging & doing side projects related to blogging would help me be more excited as far as career goes. I've loved everything about it so far (the writing, the commenting, the networking, etc etc) and going full-time would be my first move shall anything ever happen with the current 9-5. I might even plan to try it out in the next 6 months either way ;)
Me: Looking at your budget, I see you are contributing 90% of your paycheck to your 401k. That's insane! What (other) financial moves have you made that people have thought you were crazy?
J.: Haha...well, the 401(k) one is definitely the biggest of the bunch. Other than that it's probably been the stories about the opposite of me saving ;) Like the time I spent $40 on a bottle of water, or the weekend I tried out the $100 Lottery Challenge (you'll have to click to see what that one was about...we learned a lot!)
Me: I read the Lottery Challenge. I'll have to check into that bottle of water post. What types of posts do you find elicit the most responses from readers?
J.: The ones that are PERSONAL. And personal in a way that gets you to say "Yeah, me too!" or "What the...? I do NOT agree and here's why ____ ." The thing with all these personal finance sites is that we all convene here to learn and be around like-minded individuals - particularly those who have the thirst to become financially free! Many blogs do an excellent job of throwing out facts and a lot of great in-depth research, but if you want good discussions going you really have to connect with your readers. And nothing does that better than emotions. Or giveaways ;)
Me: I can honestly say that is where I have dropped the ball in the past. What do you personally enjoy writing about most?
J.: Whatever has *JUST* occurred. I really don't enjoy writing at all to be honest with you, but I LOVE sharing my experiences and thoughts exactly as they are happening. When I jump on the computer ASAP I find the words just flow out and I can really put a lot of thought & energy into the posts. If I wait a few hours though (or a few days/weeks which is usually the case when I'm busy), it's not nearly as fun for me - even if the lesson learned or shared hits home. I like blogging because it's right here and NOW - not like magazines and the bunch.
Me: One of your pieces of advice is to get rid of all "bad" debt. What do you consider "good" or acceptable debt?
J.: That's a good question actually. The old me would have said "bad" debt was car loans and credit card debts. Now I think it's really anything you personally just can't stand. You can get into a lot of the numbers and say "well this debt's at 5% and the other's at 25% so such-and-such is the good one" but overtime I've come to realize that it's almost always a personal reflection. And that most debt is bad debt when it comes down to it ;) Except for maybe a loan on a Porsche. I think for a guy that really brings a lot more joy than the opposite.
Me: Awesome answer--money is such an emotional subject for everyone. Now...you're known for your Million Dollar Club. Tell us about the it.
J.: Sure, the Million Dollar Club is pretty simple really - it's all about making a decision to get from point A (your current financial situation) to point B (a million dollars). Now, every person I know wants to be a millionaire, but unfortunately most people we know don't put a GAME PLAN into action to get there. So what the million dollar club does is basically just get you to spell out the methods you'll be taking to reach that glorious end. It might take 20 years or it might take 50, but the point is you've got a few steps in place now that you can start following.
Me: You know...that really simple...and BRILLIANT! Who doesn't want to be a millionaire. It has always seemed like just one of those unreachables, but it really is not when you think about it. So, once you've accumulated your wealth and are financially comfortable, what are your goals for enjoying the fruits of your labor?
J.: Oh that's an easy one! To do WHAT I want, when I WANT to do it ;) Every year my hobbies and passion change (I've got major A.D.H.D.), but the one thing I have always cherished is the ability to be free. Free to blog, go on walks, donate money, play poker, travel, even work if I really wanted to. The thing about money is that it gives you options to do whatever it is you're passionate about. So I'ma keep on working at it until I'm free as a bird, baby!
Me: I totally get it. I can't wait until we are no longer slaves to our debts and can feel free! Last question...what blogs are you reading?
J.: Favorite bloggers to read: Free Money Finance, Bargaineering, and Enemy of Debt. The passion those guys have is just amazing (and I'm close friends with one of them!)
I am sure that J. Money would love to have you join him over at Budgets Are Sexy. You can always just click over to read, but you'll find yourself there day after day, so you might as well just subscribe as I do, via RSS feed or sign up for his VIP newsletter. You can also follow him on Twitter--if you are into that kind of thing. Or you can hook up with him on Facebook or LinkedIn. If you do all of the above, I think you might need to join some type of addiction support group though, so pick a couple and go with it!
I finally got a chance to virtually "sit down" with J. Money (okay, so he doesn't really sit down a lot...he's not really content with being still it seems) via email and talk. This is the result:
Me: I really appreciate you talking with me about your blog. Please tell my readers a bit about yourself and what Budges Are Sexy is all about.
J.: Budgets Are Sexy is all about making finance un-boring :) There are a lot of great sites out there that dish knowledge and statistically correct ways to save here and cut debt there, but I learn a lot better when entertainment is mixed in more - and hopefully others do too!
Me: Honestly...that's one thing that locks me in as a subscriber. I can't handle the textbook type stuff; I need something readable and you've got it. What keeps you motivated to continue writing your blog?
J.: Oh man, I just think it's fun! It's like you build this entire site from scratch - all from your brain - and then people read and respond to it! Haha...Plus, it's yours to keep. It's really a product you're building out there. I think it's great that we're helping people too. I don't get any sense of accomplishment with my 9-5 job, so this blog really breathes some life into me. Now if only there's a way to go full time!
Me: I know what you mean by not feeling a sense of accomplishment at work. I envy those people who LOVE to go to work everyday. What do you think would bring that joy? Blogging full time?
J.: Oh yeah, I'm pretty sure blogging & doing side projects related to blogging would help me be more excited as far as career goes. I've loved everything about it so far (the writing, the commenting, the networking, etc etc) and going full-time would be my first move shall anything ever happen with the current 9-5. I might even plan to try it out in the next 6 months either way ;)
Me: Looking at your budget, I see you are contributing 90% of your paycheck to your 401k. That's insane! What (other) financial moves have you made that people have thought you were crazy?
J.: Haha...well, the 401(k) one is definitely the biggest of the bunch. Other than that it's probably been the stories about the opposite of me saving ;) Like the time I spent $40 on a bottle of water, or the weekend I tried out the $100 Lottery Challenge (you'll have to click to see what that one was about...we learned a lot!)
Me: I read the Lottery Challenge. I'll have to check into that bottle of water post. What types of posts do you find elicit the most responses from readers?
J.: The ones that are PERSONAL. And personal in a way that gets you to say "Yeah, me too!" or "What the...? I do NOT agree and here's why ____ ." The thing with all these personal finance sites is that we all convene here to learn and be around like-minded individuals - particularly those who have the thirst to become financially free! Many blogs do an excellent job of throwing out facts and a lot of great in-depth research, but if you want good discussions going you really have to connect with your readers. And nothing does that better than emotions. Or giveaways ;)
Me: I can honestly say that is where I have dropped the ball in the past. What do you personally enjoy writing about most?
J.: Whatever has *JUST* occurred. I really don't enjoy writing at all to be honest with you, but I LOVE sharing my experiences and thoughts exactly as they are happening. When I jump on the computer ASAP I find the words just flow out and I can really put a lot of thought & energy into the posts. If I wait a few hours though (or a few days/weeks which is usually the case when I'm busy), it's not nearly as fun for me - even if the lesson learned or shared hits home. I like blogging because it's right here and NOW - not like magazines and the bunch.
Me: One of your pieces of advice is to get rid of all "bad" debt. What do you consider "good" or acceptable debt?
J.: That's a good question actually. The old me would have said "bad" debt was car loans and credit card debts. Now I think it's really anything you personally just can't stand. You can get into a lot of the numbers and say "well this debt's at 5% and the other's at 25% so such-and-such is the good one" but overtime I've come to realize that it's almost always a personal reflection. And that most debt is bad debt when it comes down to it ;) Except for maybe a loan on a Porsche. I think for a guy that really brings a lot more joy than the opposite.
Me: Awesome answer--money is such an emotional subject for everyone. Now...you're known for your Million Dollar Club. Tell us about the it.
J.: Sure, the Million Dollar Club is pretty simple really - it's all about making a decision to get from point A (your current financial situation) to point B (a million dollars). Now, every person I know wants to be a millionaire, but unfortunately most people we know don't put a GAME PLAN into action to get there. So what the million dollar club does is basically just get you to spell out the methods you'll be taking to reach that glorious end. It might take 20 years or it might take 50, but the point is you've got a few steps in place now that you can start following.
Me: You know...that really simple...and BRILLIANT! Who doesn't want to be a millionaire. It has always seemed like just one of those unreachables, but it really is not when you think about it. So, once you've accumulated your wealth and are financially comfortable, what are your goals for enjoying the fruits of your labor?
J.: Oh that's an easy one! To do WHAT I want, when I WANT to do it ;) Every year my hobbies and passion change (I've got major A.D.H.D.), but the one thing I have always cherished is the ability to be free. Free to blog, go on walks, donate money, play poker, travel, even work if I really wanted to. The thing about money is that it gives you options to do whatever it is you're passionate about. So I'ma keep on working at it until I'm free as a bird, baby!
Me: I totally get it. I can't wait until we are no longer slaves to our debts and can feel free! Last question...what blogs are you reading?
J.: Favorite bloggers to read: Free Money Finance, Bargaineering, and Enemy of Debt. The passion those guys have is just amazing (and I'm close friends with one of them!)
I am sure that J. Money would love to have you join him over at Budgets Are Sexy. You can always just click over to read, but you'll find yourself there day after day, so you might as well just subscribe as I do, via RSS feed or sign up for his VIP newsletter. You can also follow him on Twitter--if you are into that kind of thing. Or you can hook up with him on Facebook or LinkedIn. If you do all of the above, I think you might need to join some type of addiction support group though, so pick a couple and go with it!
Thursday, April 22, 2010
Introductions...Christine from Money Funk
In this (still) new series of interviews, my plan is to introduce you to bloggers whose stories and/or advice I have enjoyed or found most helpful. Money Funk is a real life success story in process. Christine and her family are currently working to free themselves of $85,000 of debt. Through habit changes and frugal living, they are doing it and writing it all down as they go with pointers for you and me. We're all learning together, and Money Funk is one of those places where it just feels real.
I recently spoke with Christine via email about her blog and life.
Me: Please tell my readers a little about your personal life.
Christine: I was already a single mom of two children from a previous relationship. Who found love and married in 2007 to my now current husband. I came into the marriage with some credit card and student loan debt of about $40,000. My husband and I decided to pay off our past credit card debts with a Home Equity Line of Credit (HELOC), so that we can start our life fresh and new.
Well, we may have wiped out the credit card debt with shiny $0 balances, but we didn't wipe out the behavior. We re-racked up that debt and fell even further. Not a way to start a marriage by putting yourself deeper into debt. *sigh*
Me: Unfortunately it happens to many of us. We were completely out from under debt once before too. But we weren't inspired to change. And so we're back there again. What inspired you personally to get out of debt?
Christine: One day, I read an article in Redbook Magazine on Mary Hunt's 10-10-80 Formula (Save 10 percent, give 10 percent and live on the rest). Well, that article sat and pounded itself into my head. I got up the next morning to literally declare, "I am going to fight to own my money. My family is going to fight to own their money. We are going to live a better life this day forward!"
The words "own my money" were such strong bold words. Money wasn't going to drive my life, I was going to drive my life!
Me: Wow...I like that idea (owning your own money). Foreign to most of us. What was the most extreme measure that you have taken in paying off debt?
Christine: I think the most extreme measure has not been in paying my debt, but in NOT ACCRUING MORE DEBT, by having a Cash Only Christmas last year. Paying off debt has been automated by a snowball schedule. So as long as we are on track then our family is doing good. But, not accruing more debt can be difficult to keep up all the time; especially during the holidays.
Brad, from Enemy of Debt, was holding a Debt-Free Christmas Challenge. It was then I became very adamant that our family NOT accrue any new debt this last Christmas; very adamant. It was for real this time. See, might not sound like much, but our family did not prepare in saving for the holiday. So, Christmas money was strictly coming out of our weekly cash allotment. Which was not much. And when you have two children with gold and glitter in their eyes for Christmas, it can be a depressing outlook knowing you can't buy them all they want (a parent's guilt).
My husband and I made a list on how much money was going to be spent per person. And we stuck to it. You have to be real picky about the gifts. So, I chose to do most of my shopping online. Where I could compare prices, find coupons through RetailmeNot.com for discounts and free shipping, and get the best prices. I actually really enjoyed doing most of my Christmas shopping online; outside the hustle and bustle of the stores.
Me: I guess we're shooting for a cash only Christmas this year since we've sworn off credit cards. I hope we're as success as you were!
Christine: Having a debt free Christmas was by no means easy. Even my daughter grumbled after she was done opening her presents that 'she didn't get a lot'. Ah, crush my heart. But we all survived the stress having a cash Christmas brought on. My word of advice for a Cash only Christmas: start socking away $25 - $30 a week. Makes a huge difference during the holidays!
Me: Start planning early...great advice! What keeps you motivated on your journey to becoming totally debt free?
Christine: Blogging, both reading and writing, definitely keeps me motivated on my journey to becoming totally debt free. I love listening to bloggers writing about how their lives have expanded on a spiritually fulfilling level for them. I want that in my own life, too! Just think... if I don't have debt, then I can make more of a choice about where my time is spent. I wouldn't need to work, work, work all the time. I could use more of that time to spend with my family.
Me: Which debt are you most excited about being free of (either now or in the future)?
Christine: All of it! If I had to pick one, then it would be my auto loan. My husband and I have decided to be aggressive with that debt loan this year. Especially, because my stupid financial choices have me paying $29,000 for a car loan that is only $12,000. Ouch!
Me: I think very few people realize how much it truly costs to finance a new car. How has blogging influenced your drive to become debt free?
Christine: Blogging holds me accountable for my journey. There is so much enthusiasm and support to make it a successful journey. I think its wise to use that support for its full potential.
Me: I like the accountability of blogging too. How do your readers and commenters inspire you to live and/or blog?
Christine: I don't always have all the answers. Readers and Commenters have given their inspiring resolutions to financial questions I've had. I love all the thoughts that are shared; especially because I like to get the big picture on a situation.
And when I get comments about how I am helping someone on their financial journey... I feel so thankful and inspired. How could I not want to continue inspiring?
Me: What is your favorite financial story shared with you via blogging (from a reader or another blogger)?
Christine: Oh, this is an easy one. Flexo, from Consumerism Commentary, wrote a piece at the start of the new year called, Start the Decade off Right: Do Something you Love. For some reason it was just so inspiring to me because I have so many passions and inspirations that I want to live them all (most people find me crazy for that reason - always coming up with new ideas). I think this post, subconsciously confirmed its okay to try it all. And that one of those things I try will be my golden shiny star.
Me: I just read that piece and wow...you are right. Awesome post! So to wrap it all up, who do you go to for good reading: Who are your favorite bloggers to read?
Christine: A Gaishan Life, Investor Junkie, Monevator, Experiments in Passive Income, Man Vs Debt (who you just saw around here just last week!), Financial Samurai, Small Moments of Great Rewards , and Musings of a Midlife Mom:
Christine would love to have you join her over at Money Funk. You can always just click over to read, but you'll find yourself there time and time again, so you might as well just subscribe as I do, via RSS feed or email. You can also follow her on Twitter--if you are into that kind of thing. Or you can fan her on Facebook. Or you could wrap yourself in a blanket of social media and do all of the above! Either way...she'd love to see you around and see what you have to say!
By the way...she also has a HUGE rockin' blogroll of (mostly) personal finance blogs. It's going to take a WHILE to check all of those out! I think I'm up for the challenge though! You know how much I like finding new blogs to read!
Thanks again, Christine!
I recently spoke with Christine via email about her blog and life.
Me: Please tell my readers a little about your personal life.
Christine: I was already a single mom of two children from a previous relationship. Who found love and married in 2007 to my now current husband. I came into the marriage with some credit card and student loan debt of about $40,000. My husband and I decided to pay off our past credit card debts with a Home Equity Line of Credit (HELOC), so that we can start our life fresh and new.
Well, we may have wiped out the credit card debt with shiny $0 balances, but we didn't wipe out the behavior. We re-racked up that debt and fell even further. Not a way to start a marriage by putting yourself deeper into debt. *sigh*
Me: Unfortunately it happens to many of us. We were completely out from under debt once before too. But we weren't inspired to change. And so we're back there again. What inspired you personally to get out of debt?
Christine: One day, I read an article in Redbook Magazine on Mary Hunt's 10-10-80 Formula (Save 10 percent, give 10 percent and live on the rest). Well, that article sat and pounded itself into my head. I got up the next morning to literally declare, "I am going to fight to own my money. My family is going to fight to own their money. We are going to live a better life this day forward!"
The words "own my money" were such strong bold words. Money wasn't going to drive my life, I was going to drive my life!
Me: Wow...I like that idea (owning your own money). Foreign to most of us. What was the most extreme measure that you have taken in paying off debt?
Christine: I think the most extreme measure has not been in paying my debt, but in NOT ACCRUING MORE DEBT, by having a Cash Only Christmas last year. Paying off debt has been automated by a snowball schedule. So as long as we are on track then our family is doing good. But, not accruing more debt can be difficult to keep up all the time; especially during the holidays.
Brad, from Enemy of Debt, was holding a Debt-Free Christmas Challenge. It was then I became very adamant that our family NOT accrue any new debt this last Christmas; very adamant. It was for real this time. See, might not sound like much, but our family did not prepare in saving for the holiday. So, Christmas money was strictly coming out of our weekly cash allotment. Which was not much. And when you have two children with gold and glitter in their eyes for Christmas, it can be a depressing outlook knowing you can't buy them all they want (a parent's guilt).
My husband and I made a list on how much money was going to be spent per person. And we stuck to it. You have to be real picky about the gifts. So, I chose to do most of my shopping online. Where I could compare prices, find coupons through RetailmeNot.com for discounts and free shipping, and get the best prices. I actually really enjoyed doing most of my Christmas shopping online; outside the hustle and bustle of the stores.
Me: I guess we're shooting for a cash only Christmas this year since we've sworn off credit cards. I hope we're as success as you were!
Christine: Having a debt free Christmas was by no means easy. Even my daughter grumbled after she was done opening her presents that 'she didn't get a lot'. Ah, crush my heart. But we all survived the stress having a cash Christmas brought on. My word of advice for a Cash only Christmas: start socking away $25 - $30 a week. Makes a huge difference during the holidays!
Me: Start planning early...great advice! What keeps you motivated on your journey to becoming totally debt free?
Christine: Blogging, both reading and writing, definitely keeps me motivated on my journey to becoming totally debt free. I love listening to bloggers writing about how their lives have expanded on a spiritually fulfilling level for them. I want that in my own life, too! Just think... if I don't have debt, then I can make more of a choice about where my time is spent. I wouldn't need to work, work, work all the time. I could use more of that time to spend with my family.
Me: Which debt are you most excited about being free of (either now or in the future)?
Christine: All of it! If I had to pick one, then it would be my auto loan. My husband and I have decided to be aggressive with that debt loan this year. Especially, because my stupid financial choices have me paying $29,000 for a car loan that is only $12,000. Ouch!
Me: I think very few people realize how much it truly costs to finance a new car. How has blogging influenced your drive to become debt free?
Christine: Blogging holds me accountable for my journey. There is so much enthusiasm and support to make it a successful journey. I think its wise to use that support for its full potential.
Me: I like the accountability of blogging too. How do your readers and commenters inspire you to live and/or blog?
Christine: I don't always have all the answers. Readers and Commenters have given their inspiring resolutions to financial questions I've had. I love all the thoughts that are shared; especially because I like to get the big picture on a situation.
And when I get comments about how I am helping someone on their financial journey... I feel so thankful and inspired. How could I not want to continue inspiring?
Me: What is your favorite financial story shared with you via blogging (from a reader or another blogger)?
Christine: Oh, this is an easy one. Flexo, from Consumerism Commentary, wrote a piece at the start of the new year called, Start the Decade off Right: Do Something you Love. For some reason it was just so inspiring to me because I have so many passions and inspirations that I want to live them all (most people find me crazy for that reason - always coming up with new ideas). I think this post, subconsciously confirmed its okay to try it all. And that one of those things I try will be my golden shiny star.
Me: I just read that piece and wow...you are right. Awesome post! So to wrap it all up, who do you go to for good reading: Who are your favorite bloggers to read?
Christine: A Gaishan Life, Investor Junkie, Monevator, Experiments in Passive Income, Man Vs Debt (who you just saw around here just last week!), Financial Samurai, Small Moments of Great Rewards , and Musings of a Midlife Mom:
Christine would love to have you join her over at Money Funk. You can always just click over to read, but you'll find yourself there time and time again, so you might as well just subscribe as I do, via RSS feed or email. You can also follow her on Twitter--if you are into that kind of thing. Or you can fan her on Facebook. Or you could wrap yourself in a blanket of social media and do all of the above! Either way...she'd love to see you around and see what you have to say!
By the way...she also has a HUGE rockin' blogroll of (mostly) personal finance blogs. It's going to take a WHILE to check all of those out! I think I'm up for the challenge though! You know how much I like finding new blogs to read!
Thanks again, Christine!
Thursday, April 15, 2010
Introductions...(Adam) Baker from Man vs. Debt
In this new series of interviews, my plan is to introduce you to bloggers whose stories and/or advice I have enjoyed or found most helpful.
Man vs. Debt is an inspirational blog of a family who stared their debt in the face and decided that they wanted more out of life than the slavery that debt brought them. Baker and his wife Courtney sold off all of their excess belongings to pay off consumer debt and stockpile cash. They used this money so that they and their toddler daughter, Milligan, could travel abroad for one year. Their story is certainly out of the norm and proof that you can do anything you set your mind to when you are not tied down by materialism!
I recently spoke with Baker via email about his blog and life. This is how it went:
Me: You have an outstanding personal life. Please tell my readers a little about your interesting livings/travels.
Baker: Ha ha, well...thank you! My wife and I recently sold all of our possessions, paid down a bunch of debt, and spent a year traveling through Australia, New Zealand, and Thailand with our 1-year-old daughter.
It was a blast (lots of ups AND downs) and we learned a lot about ourselves and what we wanted in the future!
Me: How incredibly liberating was it to be free of the consumer debt? Did it weigh more heavily or less than student loans?
Baker: Yes, it weighed much more heavily. We ended up paying down $18,000 in consumer debt. Even though we still have $50,000 in student loans, it still felt like a HUGE accomplishment. Our consumer debt represented a lot of bad decisions and a lot of "stuff" that limited our freedom.
It's extremely liberating to have it gone. We never want another car payment, jewelry payment, or credit card. We aren't done with the battle yet and our student loans are next. The consumer debt was a big first step and very motivating!
Me: I've never thought about debt representing bad decisions, but that must be why it is so liberating to be free from it! Do you ever feel "guilty" about traveling before being free of the student loans and having no retirement plans at the moment?
Baker: At first we struggled with it. Lately, though, I've very proud of how we handled it. We set-up a goal to explore overseas, but we did so responsibly. We set out to eliminate our consumer debt and ended up saving over $17,000 in cash, too. Sure we could have fought for another 2 years to eliminate ALL our student loans, but I think we found a great balance.
We are ready for the next chapter of the fight now, having spent the last year abroad. I'm looking forward to knocking out our student loans and then having the full power of our income to save/invest in the best way we can!
Me: I love seeing how responsible you did travel--how you stuck with a severe budget just like you had to when paying off your debts. Quite responsible! Do you find you have more supporters or more nay-sayers that comment on your family's plans?
Baker: 99.9% far, far, far more supporters. I've worked very hard and been very lucky to build a community that generally loves to see people become empowered. They love to support people, including our own journey.
Anytime you share as much details as we have, you'll always have negative people come out of the woodwork. It's part of life. But these people can't even come close to the power of all the supporters and fellow people on their own journey towards freedom.
Me: That's awesome. Do you plan to travel abroad again once retirement comes around or is this your "once in a lifetime"?
Baker: We plan for travel to be a sustained part of our life, forever. That being said, it will most likely be much slower now. We would ideally prefer a 6 months home, 6-month traveling type of schedule. Maybe even 6 months in one location. We love the lifestyle, but still want the eventual security of a place called "home".
We certainly won't be waiting for retirement, though. We aren't huge fans of the traditional outlook on "retiring". :-)
Me": It doesn't look like you guys have a traditional view of pre-retirement either. =) When you were getting out of (consumer) debt and saving for your travels, what is the most extreme move you made to accomplish your goal?
Baker: Some people consider cutting up and canceling all of our credit cards to be extreme. It really wasn't for us, but I understand why it may appear that way to some. There were a few months during our "intense" period, where we spent very, very little money. We didn't eat out, we didn't go out (elected for board games with friends), and we were selling our possessions like maniacs!
It's not a pace we'd want to keep for any sustained period, but these brief moments of intensity helped us reach our goal ahead of schedule!
Me: What did you do to keep yourself motivated when attacking your finances so fiercely?
Baker: We kept framing our journey as giving us the freedom to travel abroad. By framing it in this way, it was much easier to stay motivated. We weren't just getting out of debt to get out of debt. We wanted to empower ourselves to live a certain lifestyle. By setting and keeping clear goals it helped us out!
Me: Do you ever find yourself wanting more of the "stuff" that you rid yourself of previously?
Baker: Absolutely. It's easy to head back to crutches that we've always lived with.
On the road it was hard to accumulate a lot more, because we had to carry it. If it didn't fit in the backpack, we didn't take it. Fairly simple!
Since being back home in Indiana for a couple months, we can feel the old urge creeping back in. It's so easy to starting filling back up closets and rooms with random "stuff". We are doing are best to fight it off!
Me: Who are your favorite bloggers to read?
Baker: Chris Guillebeau is by far my favorite blogger to read and my biggest role model when it comes to blogging/business.More of my current favorites include, J.D. Roth, Gary Vaynerchuk, Leo Babauta, Jonathan Fields, Brett McKay, Glen Allsop, Corbett Barr, Dave Navarro, and Steve Kamb.
Thanks again for participating and letting my readers get more acquainted with you.
If you are more interested in learning about Baker's travels and methods, please visit him over at Man vs. Debt and browse around--you can even see where they have documented all of their belongings and how they are both eliminating and adding those as needed--how awesome is that?! You can also purchase Unautomate Your Finances, his ebook that has received rave receives across the personal finance blogosphere. At his site, you can now purchase it for a reduced price!
If you want to follow Baker and his family down the road of the rest of their journey, join his MvD Militia, follow him on Twitter, and/or fan Man vs Debt on Facebook (and add Baker as a friend too!). Or you could just get his feed through your favorite reader or email like I do. I can't wait to see where life takes them next!
Man vs. Debt is an inspirational blog of a family who stared their debt in the face and decided that they wanted more out of life than the slavery that debt brought them. Baker and his wife Courtney sold off all of their excess belongings to pay off consumer debt and stockpile cash. They used this money so that they and their toddler daughter, Milligan, could travel abroad for one year. Their story is certainly out of the norm and proof that you can do anything you set your mind to when you are not tied down by materialism!
I recently spoke with Baker via email about his blog and life. This is how it went:
Me: You have an outstanding personal life. Please tell my readers a little about your interesting livings/travels.
Baker: Ha ha, well...thank you! My wife and I recently sold all of our possessions, paid down a bunch of debt, and spent a year traveling through Australia, New Zealand, and Thailand with our 1-year-old daughter.
It was a blast (lots of ups AND downs) and we learned a lot about ourselves and what we wanted in the future!
Me: How incredibly liberating was it to be free of the consumer debt? Did it weigh more heavily or less than student loans?
Baker: Yes, it weighed much more heavily. We ended up paying down $18,000 in consumer debt. Even though we still have $50,000 in student loans, it still felt like a HUGE accomplishment. Our consumer debt represented a lot of bad decisions and a lot of "stuff" that limited our freedom.
It's extremely liberating to have it gone. We never want another car payment, jewelry payment, or credit card. We aren't done with the battle yet and our student loans are next. The consumer debt was a big first step and very motivating!
Me: I've never thought about debt representing bad decisions, but that must be why it is so liberating to be free from it! Do you ever feel "guilty" about traveling before being free of the student loans and having no retirement plans at the moment?
Baker: At first we struggled with it. Lately, though, I've very proud of how we handled it. We set-up a goal to explore overseas, but we did so responsibly. We set out to eliminate our consumer debt and ended up saving over $17,000 in cash, too. Sure we could have fought for another 2 years to eliminate ALL our student loans, but I think we found a great balance.
We are ready for the next chapter of the fight now, having spent the last year abroad. I'm looking forward to knocking out our student loans and then having the full power of our income to save/invest in the best way we can!
Me: I love seeing how responsible you did travel--how you stuck with a severe budget just like you had to when paying off your debts. Quite responsible! Do you find you have more supporters or more nay-sayers that comment on your family's plans?
Baker: 99.9% far, far, far more supporters. I've worked very hard and been very lucky to build a community that generally loves to see people become empowered. They love to support people, including our own journey.
Anytime you share as much details as we have, you'll always have negative people come out of the woodwork. It's part of life. But these people can't even come close to the power of all the supporters and fellow people on their own journey towards freedom.
Me: That's awesome. Do you plan to travel abroad again once retirement comes around or is this your "once in a lifetime"?
Baker: We plan for travel to be a sustained part of our life, forever. That being said, it will most likely be much slower now. We would ideally prefer a 6 months home, 6-month traveling type of schedule. Maybe even 6 months in one location. We love the lifestyle, but still want the eventual security of a place called "home".
We certainly won't be waiting for retirement, though. We aren't huge fans of the traditional outlook on "retiring". :-)
Me": It doesn't look like you guys have a traditional view of pre-retirement either. =) When you were getting out of (consumer) debt and saving for your travels, what is the most extreme move you made to accomplish your goal?
Baker: Some people consider cutting up and canceling all of our credit cards to be extreme. It really wasn't for us, but I understand why it may appear that way to some. There were a few months during our "intense" period, where we spent very, very little money. We didn't eat out, we didn't go out (elected for board games with friends), and we were selling our possessions like maniacs!
It's not a pace we'd want to keep for any sustained period, but these brief moments of intensity helped us reach our goal ahead of schedule!
Me: What did you do to keep yourself motivated when attacking your finances so fiercely?
Baker: We kept framing our journey as giving us the freedom to travel abroad. By framing it in this way, it was much easier to stay motivated. We weren't just getting out of debt to get out of debt. We wanted to empower ourselves to live a certain lifestyle. By setting and keeping clear goals it helped us out!
Me: Do you ever find yourself wanting more of the "stuff" that you rid yourself of previously?
Baker: Absolutely. It's easy to head back to crutches that we've always lived with.
On the road it was hard to accumulate a lot more, because we had to carry it. If it didn't fit in the backpack, we didn't take it. Fairly simple!
Since being back home in Indiana for a couple months, we can feel the old urge creeping back in. It's so easy to starting filling back up closets and rooms with random "stuff". We are doing are best to fight it off!
Me: Who are your favorite bloggers to read?
Baker: Chris Guillebeau is by far my favorite blogger to read and my biggest role model when it comes to blogging/business.More of my current favorites include, J.D. Roth, Gary Vaynerchuk, Leo Babauta, Jonathan Fields, Brett McKay, Glen Allsop, Corbett Barr, Dave Navarro, and Steve Kamb.
Thanks again for participating and letting my readers get more acquainted with you.
If you are more interested in learning about Baker's travels and methods, please visit him over at Man vs. Debt and browse around--you can even see where they have documented all of their belongings and how they are both eliminating and adding those as needed--how awesome is that?! You can also purchase Unautomate Your Finances, his ebook that has received rave receives across the personal finance blogosphere. At his site, you can now purchase it for a reduced price!
If you want to follow Baker and his family down the road of the rest of their journey, join his MvD Militia, follow him on Twitter, and/or fan Man vs Debt on Facebook (and add Baker as a friend too!). Or you could just get his feed through your favorite reader or email like I do. I can't wait to see where life takes them next!
Thursday, March 25, 2010
Introductions...Ninja from Punch Debt in the Face
In this new series of interviews, my plan is to introduce you to bloggers whose stories and/or advice I have enjoyed or found most helpful.
Punch Debt in the Face is a blog that I've been reading for about 3 months now. I really enjoy his take on finances as well as reading about his personal life. And as a bonus, each post comes with its very own original stick figure artwork. I recently spoke with Ninja, the author and illustrator of this blog, about his life, blog, and financial advice:
Me: Please tell my readers a little about your personal life.
Ninja: Well, I do blog anonymously (out of fear some crazy blog reader will stalk me, cut my skin off, and wear it) I am open to sharing a few things about myself. I'm a 24 year old dude, living in San Diego. I've worked for the federal government as an investigator for a little over two years now. I'm newly engaged, and look forward to my wedding this August. Besides that I love Dr. Pepper, personal finance blogs, playing tennis, and Dove cucumber and green tea body soap. I hate cats (sorry cat lovers), chocolate, and negative people. If you want to know more, check out my "About Me" page.
Me: So why the name "Ninja"?
Ninja: That is a really good question. One that I don't have the answer to. Ninjas are pretty awesome though and I guess I just wanted to be a little awesome!
Me: You're very financially wise for your age. Where did you learn financial responsibility at such a young age?
Ninja: Honestly, I learned it from a friend. He is a financial analyst for a major bank and has his stuff together. We had a conversation about compound interest one day and how awesome it is. I don't ever plan to have a uber-high paying job, so I needed to figure out how to get rich on a blue collar salary. I decided to start reading some PF books and blogs. After a few months of taking in all that I could, I figured I wanted to join on the fun and start my own blog that caters to the twenty something crowd.
Me: Being so far "ahead" of other people your age financially, when do you hope/plan to retire and just enjoy the fruits of your savings?
Ninja: I don't know if I'll ever retire. I'm too darn active to just sit on my butt all day. After all, one can only play so much golf before they want to do something else...right? That said, I would like to have the ability to "retire" at 50. I put retire in quotes because I won't necessarily stop working, I'll just have the ability to do something else, like work part time, or work for a non-profit. I have laid out my plan to being filthy stinkin' rich here.
Me: If only I'd been as knowledgable at your age (but I guess you hear that all of the time).... What advice would you give those younger than you to help them see the importance of getting a good start financially?
Ninja: Quit waiting for tomorrow. Most of my friends don't contribute to retirement, they don't pay down their debt, and they don't live within a budget. They think that they can wait until "tomorrow" to do that. Sad thing is, tomorrow never comes for them. They keep living outside of their means. When they are 60 years old and realize they only have $20 in their retirement accounts, they will realize the mistake they made. Ask anyone over the age of 40, if they wish they would have saved more when they were 20 and see what they say. The time to get your financial act together was yesterday, yeah that's right yesterday. Quit reading this stinkin' interview and go put some money in your savings account.
Me: Do you consider any debt "good" (or worthwhile) debt?
Ninja: Umm, I actually wrote a post about this called "Good debt is for dumb people". So to answer your question. No. While I can understand why people would take out student loans to get an education or take on a mortgage to buy a house, I wouldn't call that debt "good". I prefer to think of it as "less bad." I plan to take out a loan when I buy my first house, but I'd be lying if I said I was super excited about taking on hundreds of thousands of dollars of so-called "good" debt. People often forget that a degree does not guarantee a higher income, or that their house will not ALWAYS increase in value. So please don't go in to debt, just because some bank has convinced you school loans/mortgages are good.
Me: Would you consider taking some money from savings (not retirement) and paying a huge chunk of it as a down payment? Living in CA, I doubt you would probably 100% pay for it up front, but was curious how much you'd be willing to put down on a house?
Ninja: Ya know, I've done a lot of thinking about how much I want to be able to put down when I purchase my first home. I don't really have a set amount or percentage that I will actually put down as that will depend on the market, interest rates, location, etc. Ideally, I'd be have $100K in the bank come time to purchase a home, but I don't know if that means I'd put $10K down or $50k down. One thing is for sure, I don't plan to rent forever.
Me: What is your thinking in keeping student loans while you have enough cash to cover them (even before the engagement!)?
Ninja: Ah, the student loan dilemma. I have blogged numerous times about this issue. On November 18th, 2009 I finally had the ability to pay my $15K student loans off in full. I outlined why I decided to hold on to the loans for a bit longer in this article. Basically I'm in a period of transition and am waiting for things to settle down a bit more before I deplete the majority of my savings account. In my defense, I would like to mention that, even though I haven't paid the loans off, I have still reduced them greatly. I brought them down over $10,000 last year. Had I paid only minimum payments, I would have only contributed about $2,000 towards them. I have made a resolution to pay them off by the end of the calendar year.
Me: I love reading the various topics (including, but not limited to financial topics) on your blog. What topics usually get the most feedback on your blog?
Ninja: I've found that I tend to get the most feedback when I come up with an article that everyone can contribute to. I wrote an article asking people to share their Financial Secrets and it was wildly popular. People also seem to enjoy when I rant about something like my honeymoon or the role of men and women in a relationship. Stirring a little personal finance controversy definitely gets people to chime in with their two cents. People don't really respond when I write about investing, saving, or debt. Nope, they want my engagement story or why I think being a girl is worst than being a boy (financially speaking of course).
Me: Congrats on the engagement! What is your biggest fear about combining finances with Girl Ninja when you two are married?
Ninja: For those that don't know, Girl Ninja is my fiance. I honestly am not scared at all about combining my finances with her. In fact, I can't wait. She is debt free which is super sexy. She is a teacher and makes a decent living. I'll be 25, she will be 23 when we marry. Our combined income will be between $80,000 and $100,000 (depending on if she gets a teaching contract). I'm pretty excited about sharing all of my life with her, including my money. She wouldn't be debt free if she had bad spending habits, so I have nothing to worry about.
Me: Who are your favorite bloggers to read?
Ninja: I basically read any personal finance blog I can find. I don't have a favorite as enjoy reading multiple points of view. Before I started my blog though, I was consistently reading Budgets Are Sexy and The Simple Dollar. If you (the reader) have a personal finance blog, drop me a line 'cause I would love to check it out.
You can find Ninja and his artwork over at his blog, Punch Debt in the Face or on Twitter at @punchdebt. Go pay him a visit. You will be entertained by his writing and his commenters (including his mom, Mom Ninja). If you're really smart, you'll add him to your blogroll, reader, or however you keep up with the blogs you read. Personal finance really is fun around his site.
Punch Debt in the Face is a blog that I've been reading for about 3 months now. I really enjoy his take on finances as well as reading about his personal life. And as a bonus, each post comes with its very own original stick figure artwork. I recently spoke with Ninja, the author and illustrator of this blog, about his life, blog, and financial advice:
Me: Please tell my readers a little about your personal life.
Ninja: Well, I do blog anonymously (out of fear some crazy blog reader will stalk me, cut my skin off, and wear it) I am open to sharing a few things about myself. I'm a 24 year old dude, living in San Diego. I've worked for the federal government as an investigator for a little over two years now. I'm newly engaged, and look forward to my wedding this August. Besides that I love Dr. Pepper, personal finance blogs, playing tennis, and Dove cucumber and green tea body soap. I hate cats (sorry cat lovers), chocolate, and negative people. If you want to know more, check out my "About Me" page.
Me: So why the name "Ninja"?
Ninja: That is a really good question. One that I don't have the answer to. Ninjas are pretty awesome though and I guess I just wanted to be a little awesome!
Me: You're very financially wise for your age. Where did you learn financial responsibility at such a young age?
Ninja: Honestly, I learned it from a friend. He is a financial analyst for a major bank and has his stuff together. We had a conversation about compound interest one day and how awesome it is. I don't ever plan to have a uber-high paying job, so I needed to figure out how to get rich on a blue collar salary. I decided to start reading some PF books and blogs. After a few months of taking in all that I could, I figured I wanted to join on the fun and start my own blog that caters to the twenty something crowd.
Me: Being so far "ahead" of other people your age financially, when do you hope/plan to retire and just enjoy the fruits of your savings?
Ninja: I don't know if I'll ever retire. I'm too darn active to just sit on my butt all day. After all, one can only play so much golf before they want to do something else...right? That said, I would like to have the ability to "retire" at 50. I put retire in quotes because I won't necessarily stop working, I'll just have the ability to do something else, like work part time, or work for a non-profit. I have laid out my plan to being filthy stinkin' rich here.
Me: If only I'd been as knowledgable at your age (but I guess you hear that all of the time).... What advice would you give those younger than you to help them see the importance of getting a good start financially?
Ninja: Quit waiting for tomorrow. Most of my friends don't contribute to retirement, they don't pay down their debt, and they don't live within a budget. They think that they can wait until "tomorrow" to do that. Sad thing is, tomorrow never comes for them. They keep living outside of their means. When they are 60 years old and realize they only have $20 in their retirement accounts, they will realize the mistake they made. Ask anyone over the age of 40, if they wish they would have saved more when they were 20 and see what they say. The time to get your financial act together was yesterday, yeah that's right yesterday. Quit reading this stinkin' interview and go put some money in your savings account.
Me: Do you consider any debt "good" (or worthwhile) debt?
Ninja: Umm, I actually wrote a post about this called "Good debt is for dumb people". So to answer your question. No. While I can understand why people would take out student loans to get an education or take on a mortgage to buy a house, I wouldn't call that debt "good". I prefer to think of it as "less bad." I plan to take out a loan when I buy my first house, but I'd be lying if I said I was super excited about taking on hundreds of thousands of dollars of so-called "good" debt. People often forget that a degree does not guarantee a higher income, or that their house will not ALWAYS increase in value. So please don't go in to debt, just because some bank has convinced you school loans/mortgages are good.
Me: Would you consider taking some money from savings (not retirement) and paying a huge chunk of it as a down payment? Living in CA, I doubt you would probably 100% pay for it up front, but was curious how much you'd be willing to put down on a house?
Ninja: Ya know, I've done a lot of thinking about how much I want to be able to put down when I purchase my first home. I don't really have a set amount or percentage that I will actually put down as that will depend on the market, interest rates, location, etc. Ideally, I'd be have $100K in the bank come time to purchase a home, but I don't know if that means I'd put $10K down or $50k down. One thing is for sure, I don't plan to rent forever.
Me: What is your thinking in keeping student loans while you have enough cash to cover them (even before the engagement!)?
Ninja: Ah, the student loan dilemma. I have blogged numerous times about this issue. On November 18th, 2009 I finally had the ability to pay my $15K student loans off in full. I outlined why I decided to hold on to the loans for a bit longer in this article. Basically I'm in a period of transition and am waiting for things to settle down a bit more before I deplete the majority of my savings account. In my defense, I would like to mention that, even though I haven't paid the loans off, I have still reduced them greatly. I brought them down over $10,000 last year. Had I paid only minimum payments, I would have only contributed about $2,000 towards them. I have made a resolution to pay them off by the end of the calendar year.
Me: I love reading the various topics (including, but not limited to financial topics) on your blog. What topics usually get the most feedback on your blog?
Ninja: I've found that I tend to get the most feedback when I come up with an article that everyone can contribute to. I wrote an article asking people to share their Financial Secrets and it was wildly popular. People also seem to enjoy when I rant about something like my honeymoon or the role of men and women in a relationship. Stirring a little personal finance controversy definitely gets people to chime in with their two cents. People don't really respond when I write about investing, saving, or debt. Nope, they want my engagement story or why I think being a girl is worst than being a boy (financially speaking of course).
Me: Congrats on the engagement! What is your biggest fear about combining finances with Girl Ninja when you two are married?
Ninja: For those that don't know, Girl Ninja is my fiance. I honestly am not scared at all about combining my finances with her. In fact, I can't wait. She is debt free which is super sexy. She is a teacher and makes a decent living. I'll be 25, she will be 23 when we marry. Our combined income will be between $80,000 and $100,000 (depending on if she gets a teaching contract). I'm pretty excited about sharing all of my life with her, including my money. She wouldn't be debt free if she had bad spending habits, so I have nothing to worry about.
Me: Who are your favorite bloggers to read?
Ninja: I basically read any personal finance blog I can find. I don't have a favorite as enjoy reading multiple points of view. Before I started my blog though, I was consistently reading Budgets Are Sexy and The Simple Dollar. If you (the reader) have a personal finance blog, drop me a line 'cause I would love to check it out.
You can find Ninja and his artwork over at his blog, Punch Debt in the Face or on Twitter at @punchdebt. Go pay him a visit. You will be entertained by his writing and his commenters (including his mom, Mom Ninja). If you're really smart, you'll add him to your blogroll, reader, or however you keep up with the blogs you read. Personal finance really is fun around his site.
Thursday, March 18, 2010
Introductions...Brad Chaffee from Enemy of Debt
In this new series of interviews, my plan is to introduce you to bloggers whose stories and/or advice I have enjoyed or found most helpful.
One of the blogs that I have really enjoyed reading recently is Enemy of Debt. I recently spoke with Brad Chaffee, the brains behind this blog, about his life, blog, and his financial advice. This is how it went down:
Me: Please tell my readers a little about your personal life.
Brad: I'm a 35 year old husband and father of three beautiful children. I recently quit my job so that I could be a SAHD/WAHD and work on starting my financial counseling business. I love being a father and take every chance I can to spend time with my kids. We are also debt free (except for the house), after paying off just over $26k of debt in 20 months.
Me: How awesome to be debt free! What inspired you personally to get out of debt?
Brad: One man inspired me, but what he really did was help us understand why it was so important to get out of debt. It all started with Dave Ramsey's book The Total Money Makeover. The book just made complete sense and made us feel like we could do it after all. after that Financial Peace University kept us motivated and taught us a lot about ourselves in the process. It was the very best decision we have ever made and THE only New Years Resolution we ever completed.
Me: That book was our inspiration to really ramp up our efforts as well. Do you still read/listen to Dave Ramsey to stay on track or are you pretty self-motivated now?
Brad: Actually I do. I have his audio book The Total Money Makeover, and I listen to it regularly, but the main thing is I coordinate and lead Financial Peace University at my church. When you throw my God given passion, those classes, and my wonderful readers into the mix, it definitely helps me to stay motivated. That's not to say I do not have my occasional mishaps, because I do, but they tend to be more controlled these days. ;)
Me: What was the biggest change in your life that made getting out of debt possible?
Brad: Intensity and focus made it possible but first we had to address the very problem that caused us to be where we were at the time. Our behaviors needed to change, and once we did that, it was all she wrote. We started a budget, stopped borrowing money, sold our "stuff", and became intensely focused on saving money and paying off our debt. We learned a lot about contentment during that time, which was what gave us the strength to get rid of our beloved "stuff".
Me: Clutter is such a stress for me. Do you find your home (and life) less cluttered now after selling all your "stuff" and better evaluating purchases?
Brad: Well, we did sell all of our expensive stuff but the rest of the clutter we have, we just now started to get rid of. Just like with our debt, it took us a while to realize we were collectors of stuff, even if it was cheap stuff. The problem for us isn't buying a lot of things anymore, as much as it is not getting rid of the things once they lose their usefulness. Baby clothes, toddler clothes, our clothes, you name it, we had extras. We are seeking to become minimalist in every way, even if it is not to the extreme of others. I'm looking forward to it.
Me: What was the most extreme measure that you and your wife took in paying off debt?
Brad: We sold everything we could! Our car, big screen tv, my XBOX 360, and anything else we could get our hands on. Probably the most extreme thing, at least in most people's eyes was that we did not go on vacation, buy each other gifts, and we cut up the credit cards for good. This year was the first time we bought each other birthday presents in 2 years. We made them good ones too, because we earned them. The sacrifice was worth it!
Me: Did people think you had lost your mind? Did you find any unexpected support in the process?
Brad: I of course had my non-believers, but for the most part they were co-workers and friends. My boss for example said he didn't need a Total Money Makeover at first, but after hearing me tirelessly rant about it, he became convinced he was wrong. Now he's paying off debt like a champion. Best part is, he's getting married soon, and him and his fiancee are on the same page. I have more than a hunch, that they will end being very successful in life. I'm very proud of them both!
There were people that said I was crazy for cutting up my credit cards to never borrow again, and I did receive some emotionally confused looks from others during that process. My dad for instance said that you just can't live without a car payment, or credit cards. He's of course got the mindset that he "is" his credit score. I'm financially responsible and I use cash, but my credit score is not calculable. I'll live. :)
Me: What is your personal spending weakness?
Brad: It used to be video games, electronics, books and eating out. Since becoming debt free we have slipped a little in the eating out department but we are still maintaining our plan to save our Fully Funded Emergency Fund of $15,000 by the end of 2010. We are almost half way there already so we should reach that goal. We ask ourselves a lot more questions before we buy anything these days. Do we need it? Can we wait? How will it affect our plan if we buy it?
Me: Those are all great questions for any purchases. What did you find to motivate you when you got sick of living meagerly in order to knock out your debt?
Brad: We took a break for one month. All the money we could have thrown at our debt snowball went to doing something nice. we took a small weekend trip to Washington D.C. (Free zoo, and museums made that trip nicer, but we still spent a pretty penny on hotels. was it worth it? Absolutely! We were refreshed and ready to get back on the train when we returned to the plan the following month. I would say that month saved us because we were close to getting burned out. Usually when that happens to people they never return, so I recommend a ONE MONTH break. Then it's back to business!
Me: Taking a month off is a great tip...especially if it is going to be a long haul. I would expect that it takes a lot of discipline to get back rolling though.
Brad: You can't just take a month off and go wild, there still needs to be self control and the understanding that you still have goals. Spend a few hundred dollars on a 2-3 day trip somewhere, enjoy yourself and get back to it. I would be very careful when putting a specific time frame on it though because then it makes your attempt to get back on more challenging. I say just be realistic. when I talk about taking a month off I just mean for you to take a month's worth debt repayment money, and spend it on some frugal family fun. We didn't spend quite all of our debt snowball for that month, but we did blow about $500.
Me: What inspires you to want to help others become debt free?
Brad: Hope! I want to inspire and motivate people to find the hope that being in debt steals from people. That hope is hard to find when you have tons of debt, no savings, and someone waiting for your each and every one of your paychecks. Debt has a funny way of making you believe you cannot do better for yourself. Inspiring people to become debt free is my passion and my purpose, and I intend on changing lives a little each day.
Me: What an awesome goal. What is your favorite success story that has been shared with you?
Brad: There really is not one single story that stands out the most, because to me success no matter what, is something to celebrate. But I would have to say that the best debt free stories are the ones where the person loved debt, credit cards, and everything else that made them broke, only to do a complete turn-around after realizing they were doing it wrong. The stubborn ones make for the best stories!!
Me: Now we want to know what you are reading. Who are your favorite bloggers to read?
Brad: I enjoy reading Budgets Are Sexy, Punch Debt in the Face, Deliver Away Debt, Out of Your Rut, and Engaged Marriage. Those are the ones I most consistently read each week, but there are tons more I make sure to check up on from time to time. .
You can find Brad anytime at his blog, Enemy of Debt. He also contributes to the Self Reliance Exchange and can create some custom graphics for you at Logos4You. Go pay him a visit. Better yet...add him to your blogroll, reader, or however you keep up with the blogs you read. I guarantee that you'll learn something while you're there.
Thanks again, Brad! I'll be there (debt free) with you one day...soon!
One of the blogs that I have really enjoyed reading recently is Enemy of Debt. I recently spoke with Brad Chaffee, the brains behind this blog, about his life, blog, and his financial advice. This is how it went down:
Me: Please tell my readers a little about your personal life.
Brad: I'm a 35 year old husband and father of three beautiful children. I recently quit my job so that I could be a SAHD/WAHD and work on starting my financial counseling business. I love being a father and take every chance I can to spend time with my kids. We are also debt free (except for the house), after paying off just over $26k of debt in 20 months.
Me: How awesome to be debt free! What inspired you personally to get out of debt?
Brad: One man inspired me, but what he really did was help us understand why it was so important to get out of debt. It all started with Dave Ramsey's book The Total Money Makeover. The book just made complete sense and made us feel like we could do it after all. after that Financial Peace University kept us motivated and taught us a lot about ourselves in the process. It was the very best decision we have ever made and THE only New Years Resolution we ever completed.
Me: That book was our inspiration to really ramp up our efforts as well. Do you still read/listen to Dave Ramsey to stay on track or are you pretty self-motivated now?
Brad: Actually I do. I have his audio book The Total Money Makeover, and I listen to it regularly, but the main thing is I coordinate and lead Financial Peace University at my church. When you throw my God given passion, those classes, and my wonderful readers into the mix, it definitely helps me to stay motivated. That's not to say I do not have my occasional mishaps, because I do, but they tend to be more controlled these days. ;)
Me: What was the biggest change in your life that made getting out of debt possible?
Brad: Intensity and focus made it possible but first we had to address the very problem that caused us to be where we were at the time. Our behaviors needed to change, and once we did that, it was all she wrote. We started a budget, stopped borrowing money, sold our "stuff", and became intensely focused on saving money and paying off our debt. We learned a lot about contentment during that time, which was what gave us the strength to get rid of our beloved "stuff".
Me: Clutter is such a stress for me. Do you find your home (and life) less cluttered now after selling all your "stuff" and better evaluating purchases?
Brad: Well, we did sell all of our expensive stuff but the rest of the clutter we have, we just now started to get rid of. Just like with our debt, it took us a while to realize we were collectors of stuff, even if it was cheap stuff. The problem for us isn't buying a lot of things anymore, as much as it is not getting rid of the things once they lose their usefulness. Baby clothes, toddler clothes, our clothes, you name it, we had extras. We are seeking to become minimalist in every way, even if it is not to the extreme of others. I'm looking forward to it.
Me: What was the most extreme measure that you and your wife took in paying off debt?
Brad: We sold everything we could! Our car, big screen tv, my XBOX 360, and anything else we could get our hands on. Probably the most extreme thing, at least in most people's eyes was that we did not go on vacation, buy each other gifts, and we cut up the credit cards for good. This year was the first time we bought each other birthday presents in 2 years. We made them good ones too, because we earned them. The sacrifice was worth it!
Me: Did people think you had lost your mind? Did you find any unexpected support in the process?
Brad: I of course had my non-believers, but for the most part they were co-workers and friends. My boss for example said he didn't need a Total Money Makeover at first, but after hearing me tirelessly rant about it, he became convinced he was wrong. Now he's paying off debt like a champion. Best part is, he's getting married soon, and him and his fiancee are on the same page. I have more than a hunch, that they will end being very successful in life. I'm very proud of them both!
There were people that said I was crazy for cutting up my credit cards to never borrow again, and I did receive some emotionally confused looks from others during that process. My dad for instance said that you just can't live without a car payment, or credit cards. He's of course got the mindset that he "is" his credit score. I'm financially responsible and I use cash, but my credit score is not calculable. I'll live. :)
Me: What is your personal spending weakness?
Brad: It used to be video games, electronics, books and eating out. Since becoming debt free we have slipped a little in the eating out department but we are still maintaining our plan to save our Fully Funded Emergency Fund of $15,000 by the end of 2010. We are almost half way there already so we should reach that goal. We ask ourselves a lot more questions before we buy anything these days. Do we need it? Can we wait? How will it affect our plan if we buy it?
Me: Those are all great questions for any purchases. What did you find to motivate you when you got sick of living meagerly in order to knock out your debt?
Brad: We took a break for one month. All the money we could have thrown at our debt snowball went to doing something nice. we took a small weekend trip to Washington D.C. (Free zoo, and museums made that trip nicer, but we still spent a pretty penny on hotels. was it worth it? Absolutely! We were refreshed and ready to get back on the train when we returned to the plan the following month. I would say that month saved us because we were close to getting burned out. Usually when that happens to people they never return, so I recommend a ONE MONTH break. Then it's back to business!
Me: Taking a month off is a great tip...especially if it is going to be a long haul. I would expect that it takes a lot of discipline to get back rolling though.
Brad: You can't just take a month off and go wild, there still needs to be self control and the understanding that you still have goals. Spend a few hundred dollars on a 2-3 day trip somewhere, enjoy yourself and get back to it. I would be very careful when putting a specific time frame on it though because then it makes your attempt to get back on more challenging. I say just be realistic. when I talk about taking a month off I just mean for you to take a month's worth debt repayment money, and spend it on some frugal family fun. We didn't spend quite all of our debt snowball for that month, but we did blow about $500.
Me: What inspires you to want to help others become debt free?
Brad: Hope! I want to inspire and motivate people to find the hope that being in debt steals from people. That hope is hard to find when you have tons of debt, no savings, and someone waiting for your each and every one of your paychecks. Debt has a funny way of making you believe you cannot do better for yourself. Inspiring people to become debt free is my passion and my purpose, and I intend on changing lives a little each day.
Me: What an awesome goal. What is your favorite success story that has been shared with you?
Brad: There really is not one single story that stands out the most, because to me success no matter what, is something to celebrate. But I would have to say that the best debt free stories are the ones where the person loved debt, credit cards, and everything else that made them broke, only to do a complete turn-around after realizing they were doing it wrong. The stubborn ones make for the best stories!!
Me: Now we want to know what you are reading. Who are your favorite bloggers to read?
Brad: I enjoy reading Budgets Are Sexy, Punch Debt in the Face, Deliver Away Debt, Out of Your Rut, and Engaged Marriage. Those are the ones I most consistently read each week, but there are tons more I make sure to check up on from time to time. .
You can find Brad anytime at his blog, Enemy of Debt. He also contributes to the Self Reliance Exchange and can create some custom graphics for you at Logos4You. Go pay him a visit. Better yet...add him to your blogroll, reader, or however you keep up with the blogs you read. I guarantee that you'll learn something while you're there.
Thanks again, Brad! I'll be there (debt free) with you one day...soon!
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