Debt Is A Journey

I hate to break it too you, but there is no magic wand for getting out of debt. Debt will only be gone if you pay down your debts and follow a strict budgeting plan, and create a plan to defeat your liabilities. These liabilities can create stress in relationships with friends or family because most people do not understand the frustrations that come with trying to get out of debt. It may seem impossible, but just think about what you could do without a car note, or student loan payment. Imagine a life free of credit card debt… wow!

Debt Is A Journey

Debt can effect your ability to obtain a loan for buying a home, new car, or even get some renovations done around the house. With the right plan and discipline you will not have to worry about debt anymore. There are tons of debt coaches and strategies out there who will tell you exactly how to beat debt. For me it has been a mix of strategies, and a very personal mission. A few weeks ago I broke down my plan, for everyone here.

Debt is a journey, a hard one. I started this with a five part plan which consisted of: Making minimum payments, taking advantage of splitting payments with simple interest, using the blizzard method on my high interest debt, condensing my debts via refinance, or balance transfer, and lastly working on making my income bigger. but here is where I am at today.

So Far

So far I have laid out a plan to begin paying on a split payment this next month. I was able to refinance almost 90% of my credit card debt into a single monthly payment which has simple interest! That refinance move kind of eliminated the blizzard method, but I still have some high interest accounts to tackle. Made all my minimum payments last month, and I haven’t quite made my income jump through the roof yet, but it’s all a work in progress.

In 2021 we live and die by our credit score. It decides what we can afford for a cell phone, car, and house. Credit is what modern America runs on, and everyone seems to just be going with the flow. Debt is a great tool, and you can use it to accomplish your goals, and get ahead. What you have to remember is going with the flow can lead off the edge of a waterfall so many can never climb back from. stay disciplined, and keep up the progress! Stay tuned for more on my debt journey with the Free Market Nightcap. None of this is financial advise, just my informed journey so far.


Written by Caleb Hogan from on September 14, 2021

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