Comments on: Net Worth – January 2010

By: Lillie

Lillie — Thu, 11 Feb 2010 18:23:30 +0000

Thanks for the graphic outline. It sounds like you’re off to a good start. One of the best things that I like about the site is that you said it will help others to avoid making the same mistakes that you did. Too often people don’t like to discuss their financial issues/concerns openly. This is an excellent resource that I will share with others. Good luck.
Lillie´s last blog ..Looking for good financial advice on a budget?

By: Forest

Forest — Tue, 02 Feb 2010 16:46:14 +0000

Thanks, will do.
Forest´s last blog ..9 Ideas To Stay At Home On Saturday Night

By: Jeffrey Kosola

Jeffrey Kosola — Tue, 02 Feb 2010 16:46:14 +0000

Thanks Ryan,

Yeah, work has me slammed so the post will be up later

By: Jeffrey Kosola

Jeffrey Kosola — Tue, 02 Feb 2010 16:45:14 +0000

Good luck with the debt management plan. I’d love to know how it works out, keep me posted.

By: Ryan @ Planting Dollars

Ryan @ Planting Dollars — Tue, 02 Feb 2010 09:47:18 +0000

That’s a nice dent you put in this month, very nice. I look forward to seeing your millionaire list soon and appreciate the compliment on my site!
Ryan @ Planting Dollars´s last blog ..The Part Time Job Search

By: Forest

Forest — Tue, 02 Feb 2010 08:15:08 +0000

Awesome stuff…. I am starting from scratch as I just put my debts into a debt management plan so need to establish an emergency fund and then can look at other savings options from there.
Forest´s last blog ..9 Ideas To Stay At Home On Saturday Night

By: Paul @ FiscalGeek

Paul @ FiscalGeek — Mon, 01 Feb 2010 23:57:01 +0000

There simply isn’t much of an argument against free money especially if you are focused. It’s funny but at least in my case, the very traits that lead me to get in debt in the first place I was able to use for good to dig myself out quickly. Funny how that works.

As to what’s next, we are busting our emergency fund, and it feels sooooo good to be able to shovel that money into a pile rather into the furnace. No purpose lost at all, rather my new focus is to get out of my current job and be running my own show. So if anything we have the same if not more focus. I’ve been able to use my side gig money to pay for our tickets to the Olympics which I’m really stoked about and I just got a new pair of ski’s. The Kung Fuja’s. We are focused and it’s cool because my wife keeps asking me when I think we’ll be able to pay off the house. From here on out we’re building our net worth and I love it.

Great job on your own for what it’s worth I’m proud to see how hard you are working at it. You’re inspiration in your own right.
Paul @ FiscalGeek´s last blog ..A New Way to Save When Grocery Shopping

By: Jeffrey Kosola

Jeffrey Kosola — Mon, 01 Feb 2010 23:43:24 +0000

I’m glad it’s worth it. You and your wife KNOCKED DEBT OUT OF THAT PARK. I so very happy for you.

I ran a bunch of numbers on the 401K choice. I’m trying to look long term and work short term. Since my company just started matching us again, I didn’t want to loose the long term benefits of adding to the 401K. When I started the plan I went to zero on the contributions and it did give me a small kick in income. Since then my wife and choose to start again, while looking 20 years down the road. Yeah is sucks right now, but I’m willing to hustle a little bit more to get there.

So what’s next Paul? Did you loose any purpose once the debt was paid, or has it turned you into a money saving net worth building machine??

By: Jeffrey Kosola

Jeffrey Kosola — Mon, 01 Feb 2010 23:36:00 +0000

That hardest part about getting out of debt is realizing that it will take time and sacrifice. DR shows us how to change our behavior. Once you start on the path and your behavior is modified, it just becomes a numbers game. I know I’m not going back into debt. I know how to work my tail off to eliminate it. After those thing are figured out, the normal smallest to largest snowball doesn’t quite matter anymore. We’ve got some easy wins that have showed us how to work the process. It now becomes, what is the best way for our families to finish the process. For me, it’s about building a little extra cushion and paying that 2nd mortgage off (my largest debt). DR has shown me the light, I’m just choosing the next tunnel over Oh yeah, that tunnel has Kool-aid too…

By: Paul @ FiscalGeek

Paul @ FiscalGeek — Mon, 01 Feb 2010 23:29:00 +0000

Way to kill it Jeff that’s some good progress right there. As someone just recently hitting debt freedom it is so worth the effort to bust it. Myself I followed the D.R. plan to the tee but as I told Matt I’m a rule follower and that $1000 covered us but if the Spousal Unit is not happy then the plan changes, simple as that. Have you considered dropping your 401k contributions while you are focusing? Seems to me you’re working your tail off by day and night and that extra 4% would help you get there that much faster to be back with your family. No right or wrong way just some thoughts.
Paul @ FiscalGeek´s last blog ..A New Way to Save When Grocery Shopping