Sunday, February 6, 2011

Debt Free for Life Review

There are only a handful of blogs I read everyday and Financial Samurai is one of my top five favorites.  There are a few things that I really find intriguing in a blogger, the ability to relate to their readers and the willingness to respond to comments by engaging in thoughtful discussion and feedback.  Sam at Financial Samurai does all of the above.  Make sure you take time to check out his latest blog:

As someone who has personally been on the debt-to-freedom and back again plan I have used financial blogs as a validation and source of strength when my own bills felt overwhelming.  There have been times in my life when I was $15,000 in debt while only making $20,000 a year and other times when I was completely debt free just to turn around and buy a house and two cars, hello $200,000+ in debt.

There are many reasons why people get in debt, but at the end of the day each person needs to make the decision to get out of debt.  I think American's struggle with debt because it is ingrained in our society, our own government is set to vote soon on raising the debt limit above 14.3 Trillion dollars, no wonder the average person can't figure out a way to live within their means.  We see over indulgence everyday in politics and are almost paralyzed by the concept of doing something about it.

I am proud to say that I am hosting a Super Bowl party today and I was able to buy all the food and drinks with cash.  There is nothing worse than going into debt to finance a consumption event that will have no lasting tangible asset when it is over.  I saved for this day, I still have my mortgage, but I feel better entertaining my family and friends in a conservative and responsible way.