Looking back can sometimes show us the way forward

Looking back can sometimes show us the way forward

I enjoy reading about others who have achieved financial freedom, it motivates and inspires me to do the same, sometime however, it makes me impatient.  These people are where I want to be, doing things I want to be doing, and yet here I am with student loans totaling $45,668 and a mortgage balance of $113,620. I want to pay off these debts, invest in my tax advantaged accounts, and continue to grow my real estate business.  As you can see, I have several different goals, all competing for my…

Debt Avalanche vs. Debt Snowball

Debt Avalanche vs. Debt Snowball

How my wife and I lowered our student loans by $40,000 in one year, on a teacher and physical therapist income. Suddenly, I keep hearing reports that interests rates may be headed higher, since economic forecasts are less reliable then your local weatherman, I’m not to worried, but it does make for a good time to analyze any debt payoff strategy. Personally, I have shifted focus away from my student loans and towards my mortgage, both have low interest rates, but by reducing / eliminating my mortgage, I could accelerate…

Debt Demolition – Show me the money – Triathlon

Debt Demolition – Show me the money – Triathlon

If you haven’t already, read THIS first. The year was 2006, I was 2 years out of college, and searching for an athletic outlet. I had always been an athlete, participating in swimming, soccer, and basketball through high school and continuing my basketball career as a bench player in college.  Competition was a part of me, and at this stage of life, competition was missing.  Triathlon filled the void.  Quickly, I my time was consumed with swims, bike rides, and runs, my free time disappeared. I loved it. In August…

Where was the money going?

Where was the money going?

Our family goal was to eliminate over $80,000 in student debt by December of 2016. In my last post Debt Demolition: Refinance causes change of course.  I explained why we changed the focus of our project, but I also showed that if we would have stayed the course, our loan would likely have been eliminated this month, only one month after the original goal target.  Honestly, I’m amazed that we were actually this close to achieving our goal.  In my original calculations, I was to be working during the summers…

$80,000 Student loan – Why I could’ve paid it off, but didn’t

$80,000 Student loan – Why I could’ve paid it off, but didn’t

Before starting this blog, I had been writing in my notebook, with the main purpose of creating accountability and motivation to eliminate the student debt that my wife and I had accrued.  As mentioned in my other Debt Demolition posts, our student loans at one time totaled over $80,000. The lions share of this debt, at over $70,000 was acquiring interest to the tune of 7% per year. This was a financial drain that was not only washing away our finances, but was also a source of discouragement, as the…

Show me the money

Show me the money

Originally written July 2015 One families journey to demolish 80,000$ is student debt in two years or less I started selling unused / unwanted household items on craigslist, doing some freelance work on the side, and I started brewing my coffee at home.  After 14 months my 68,115$ debt was gone! Every time I read an article like this I just scream, “What!  Where are the details?”  Maybe I’m just confused because my own house is partly furnished by things that once graced my dorm room, and I don’t drink…

Debt Demolition: Smash the Debt

Debt Demolition: Smash the Debt

Originally written July 2015 One families journey to demolish 80,000$ is student debt in two years or less My favorite tool is either my sledge hammer or my 3 foot crow bar. These are tools of action, anyone wielding either of these tools will be able to showcase visual progress within minutes of beginning their chosen task. I like to see results and these tools make it happen, at the end of the day you may have a mess, but any passerby will plainly state, “there is work being done…