Wow! It’s already May. This year is simply zooming by — especially since I have so much going on.
But, I have a confession to make… As it stands right now on paper, I am not debt free. But, I have a plan, a plan that I’m following, and I will be 100% debt free.
You’re probably asking how could I have possibly gotten myself back into debt. Trust me, my plan was to never go into debt again… then stuff happened…
My mother passed away. Her final wishes were that she be buried in California next to Dad. The funeral home wanted payment in full before they would do anything. Services in Arkansas, transportation to California, and services there were expensive. All of Mom’s money was tied up in her estate. So, the only way I could finance everything was through a 401K loan.
NOT what I would recommend, but I simply didn’t have thousands of dollars piled up in savings. I will be repaid out of Mom’s estate once all of that is settled, but for now, I have a substantial amount of debt.
Last Fall I underwent major surgery and, while I have health insurance, there were still co-pays and deductibles that I was responsible for.
I tried to stretch my old Geo Prizm as long as I could. After several breakdowns, and a couple thousand dollars of repairs and then yet another breakdown, I finally gave up and bought a “new to me” car. I didn’t go upside down in it, and it’s only a 2-year loan, but still, it’s debt.
So, why am I making this confession? Simple. First, I believe in being transparent and I’m not going to pretend to be something that I’m not.
Second, I thought what better way to show how to deal with debt than to share my journey back out of debt with you. They say the third time is the charm, right? As my journey progresses, I’ll tell you how I got my mother out of $30,000 of debt, then got myself out of $30,000 of debt, and I’ll also share my current journey back out of debt again.
Third, by being open and honest about my circumstances, I am making each and every one of you my accountability partners.
Finally, I’d really be thrilled to see “I’m Debt Free” develop into a community in which people feel free and supported to ask for advice or share their own personal stories. So, I’m going to invite you to “Like” my Facebook page, also called “I’m Debt Free“.
Well, there you have it. I hope you aren’t too disappointed in me, but that’s my story.
What’s your story?