If you're like most people (at least most people in America) you're raised to think you need credit to survive. The older I get (though I'm not "old" yet) I am starting to think that it is nearly unnecessary and that it is a waste of money and is what is keeping households from ever having "enough" money. Think about your situation; What would you do if you didn't have any debts to pay? How much extra money would you have every month? I know for me 27% of my income every month immediately goes out in minimum payments on credit and honestly that is quite low compared to most families!
Now I don't have a mortgage yet so that 27% was figured without a mortgage, figure what most experts say at 1/3 of your income for housing so 33%, that totals 60% of my income going right back out just to support a lifestyle I obviously can't afford because I had to put it on credit!
This blog is all about getting out of debt, and many of the posts will be about my personal struggles and trials of living frugally and cheaply in an attempt to pay off my debts before their scheduled payoff in 2017, though some will be about things I do on the side to supplement my income from my 9-5 job or other useful or interesting things that have to do with this topic.
I am in no sense a financial expert, I'm just a normal guy trying to cut back and do everything I can to get out of debt and get my finances out of control. Leave me some comments if you have any questions regarding anything covered here and I'll answer back. I'm going to document everything that I find that works and everything that doesn't so hopefully someone out there will find this useful and get their finances under control too.