I suspect a lot of people will relate to my feelings on this topic but also suspect being in debt has, and does, feel very different for everyone.
At the same time, there are many people out there who have never experienced debt and really have no idea what it’s like living with debt.
Our debt comes in the form of a mortgage, car loan, DMP (0% consolidated ‘consumer’ debt) and student loans. Though the majority of our debt is in the form of a mortgage, it’s still debt. It kills my soul a little every time I hear ”but it’s good debt”. No, it’s debt, and in my mind all debt sucks ass. Yes, I guess in terms of priorities, our mortgage is the lowest priority but I don’t want to be in my 60′s still paying it off.
How Does It Feel?
I had someone actually email and ask me this a few months ago. She wanted to know how it felt. Verbalize how the near 300k debt-load felt, everyday when I woke and went to bed.
Being in debt sucksssss. It is suffocating and totally controls all aspects of our life. Our entire life revolves around making debt payments. Yes, we make good money and are able to live a bit of a life while getting out of debt, but it still consumes every. single. thought.
I honest-to-God can’t make a single purchase without thinking about my budget, our debt and how said purchase will be effecting my budget, funds and debt. I hate this feeling. I can’t wait to be debt free and know that my money is my money and I can (responsibly) do whatever I want! I won’t lie, I have a huge list of wants and I will have them (don’t worry they’re all reasonable) but I can’t and won’t buy them until our debt is paid off and we can really enjoy them. (I won’t lie, I cannot WAIT to write a post about it either!)
Being in debt totally redefines my outlook and purpose in life. I have a career, one that I enjoy, but when I go to work, my current mentality is to make money to pay off debt and provide for family. When I become debt free I will work for enjoyment and to buy things I want and need. Not hand over my paycheque to someone else.
What we’re doing about ass-sucking debt.
I feel like debt is only ok if you have a plan of attack. One we currently have. We’re guilty of ‘wasting’ three baby-free years of making minimum-only payments, but we’re finally on track! I don’t have an exact debt-free date yet since it depends on my extra income which is SO variable it’s tough to say. Now that I have a few concrete staff writing jobs though, I feel like I”m finally able to calculate this date though, one I will share with you all as soon as I do. I can tell you it will be within five years MAX though. I don’t want to say it too loud but I have a very conservative goal in mind which is a lot sooner than that…Shhh.
I realized our incomes alone weren’t going to be enough to get the debt paid down so started looking for ways to make more money. I never thought it would be online but I’m slowing carving away at my little piece of the internet to help our efforts even more. Sometimes our extra money comes in the form of additional days worked but it’s usually from mine and hubby’s blogging. It’s not much but it all helps!
Debt blows, there’s nothing good about it other than the fact that it has taught me many life lessons. Lessons I can then share with my daughter. So though I hate my debt, I appreciate it for the values it has instilled in me.