One of the biggest impediments to getting out of debt is the opinions\/judgments\/attitudes of others \u2026 \u201cHow did this happen?\u201d \u2026 \u201cWhy so much?\u201d \u2026 \u201cWhere did all that money go?\u201d \u2026 \u201cCould never happen to [insert name of wise & learned person who lives free of any & all mistakes]\u201d \u2026<\/p>\n\n\n\n
So whether one wishes to keep those debt ledgers to self or share with the world (“Hi!” [waving hand<\/em>]), the most important thing is to not flog oneself whilst donning a hair shirt about it.\u00a0 Seriously.<\/p>\n\n\n\n What\u2019s done is done, what\u2019s bought is bought, what\u2019s spent is spent, so let\u2019s move forward, and work on not repeating those same mistakes \u2026 yes?<\/p>\n\n\n\n But \u2013 as Mr. Edelman is wont to say and happy to admit \u2013 simple does not mean easy. <\/p>\n\n\n\n Getting out of debt is fairly straightforward \u2026 earn more\/spend less\/don\u2019t use\/pay down aggressively \u2026 but that knowledge translated to action? <\/p>\n\n\n\n Whole new set of problems, because the solution = sacrifice. <\/p>\n\n\n\n Means a lot more \u201cno\u201d and a lot less \u201cyes\u201d\u00a0… means more gratification delayed indefinitely … means a lot of “maybe next time” that will never, ever come.\u00a0<\/p>\n\n\n\n And it requires a balancing of priorities, desires, and expectations \u2013 Mr. Edelman recounts a time when he and his wife had a failed business, and rather than continue along the path of the money pit they cut their losses and regrouped \u2026 which required downsizing from a 3,000sqft. townhouse to 900sqft. apartment and selling all their belongings apart from a kitchen table, bedroom set gifted by parents, and a sofa.\u00a0<\/p>\n\n\n\n No TV, no stereo, no other furniture. They kept their clothes and their dishes and used some donated boxes to pack their meager items. <\/p>\n\n\n\n Spent $25\/week on food.\u00a0 Used the library, parks, and other free stuff for entertainment.\u00a0 <\/p>\n\n\n\n No mention of a vehicle, or costs related to, so there\u2019s that.\u00a0 Both Mr. & Mrs. Edelman worked a lot \/ several jobs \/ to make the money and stack the cash.\u00a0<\/p>\n\n\n\n After four years of frugality, all debts paid, new home purchased, life moved onward\/upward\/better. Happy ending, loving this for them.<\/p>\n\n\n\n This is back in the 1900\u2019s \/ 1982, to be exact \/ and no kids mentioned, so totally possible. <\/p>\n\n\n\n Now?\u00a0 In the midst of these twomp-twomps?\u00a0 With theKid in private school and Half and other half splitting households and mid-range 6-figure debt and elderly parents in nursing care and and and?<\/p>\n\n\n\n Not impossible, not totally, but not very practical, or practicable for that matter.\u00a0<\/p>\n\n\n\n Not taking theKid out of private school to pay down debt. Not happening.<\/p>\n\n\n\n Not much to do about housing\/living expenses split across the country, so \u2026 what?<\/p>\n\n\n\n Totes possible to reduce grocery bills on other half\u2019s end \/ living on rice and good vibes pretty much at this point but Half must feed theKid on precipice of puberty verge so that food bill is only going up.<\/p>\n\n\n\n Heat, electricity, vehicle costs, must have internet for work AND school \u2026 and more than 40 years later, it is a muchly way different and hugely moreso expensive world.<\/p>\n\n\n\n Heard the Nobamas did not unleash their collective student loan debts from law school until he wrote & sold a best seller, so there\u2019s that. <\/p>\n\n\n\n Nice idea, tho\u2019. Rah, and rah.<\/p>\n\n\n\n Presently? For these current times? Not to be all doom, all gloom, but seems like winning the lottery, selling Shark Tank\u2019s next big pitch, writing the next Twilight (ugh, shame<\/em>), or receiving a large cash settlement from injury or injustice are the only viable ways to truly escape the debt lifestyle \u2026 otherwise, continue the grind.<\/p>\n\n\n\n Sisyphus only pushed the stone for eternity. At least we\u2019ll all be dead by then, and the debt dies with us, and unlikely to leave a bequest anyhoo. <\/p>\n\n\n\n There\u2019s some internet wisdom out there that says just live on borrowed funds, like borrowed time, and leave nothing behind for heirs. Rent, lease, borrow \u2026 the next flex?<\/p>\n\n\n\n Own nothing, and you will be happy. <\/p>\n\n\n\n Guess that depends on the definition of \u201chappy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" One of the biggest impediments to getting out of debt is the opinions\/judgments\/attitudes of others \u2026 \u201cHow did this happen?\u201d \u2026 \u201cWhy so much?\u201d \u2026 \u201cWhere did all that money go?\u201d \u2026 \u201cCould never happen to [insert name of wise & learned person who lives free of any & all mistakes]\u201d \u2026 So whether one … <\/p>\n
\u2014 \u201cDo I want to get out of debt?<\/em>\u201d\u00a0 Yes.\u00a0
\u2014 \u201cDo I want to do what it takes to accomplish that?<\/em>\u201d\u00a0 Ehhh, maybe?\u00a0 Depends.<\/p>\n\n\n\n
theKid is not going to pay with theKid\u2019s future for Half\/other half\u2019s money = mistakes.<\/p>\n\n\n\n
Cut where can, borrow to pay down then never borrow again.
Feds\/IRS are coming after the side hustle income so that seems pointless at this point as well.<\/p>\n\n\n\n