Blogging Away Debt - Why were you in debt?
Personal finance blogs are awesome reading. Some of my favorite blogs are ones where people are deeply in debt and working to pay it off all while detailing the journey on a blog. This really puts the personal in personal finance.
The one thing I find lacking is they very rarely determine what got them into debt in the first place. Sure they may be out of debt now but if they did not determine what was the cause of debt they very well may find themselves back into debt once again down the road.
Personally I have never really been in debt. Sure I have a car payment and a house payment but I could pay off the car right now if I needed to and my house payment is less than most people’s rent in an apartment.
I should be debt free including the house in roughly 3 years maybe 4. Not bad for a 26 year old. Likely I could slow down the 401k and IRA contributions and become debt free much sooner but I like knowing I am putting money away for when I retire.
Just remember know what got you into debt to not have to face the same issues later in life.
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