Comments on: Are You Willing to Sacrifice to Succeed? http://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#utm_source=rss&utm_medium=rss&utm_campaign=are-you-willing-to-sacrifice-to-succeed A personal finance blog teaching you how to live debt free and use credit wisely. Fri, 10 Feb 2012 15:18:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Kevinhttp://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#comment-19821 Kevin Sun, 03 May 2009 20:07:53 +0000 http://www.nodebtplan.net/?p=2578#comment-19821 @Jennifer: Great! That's $11,000 per year or nearly $1,000 per month. Awesome job! @Jennifer: Great! That’s $11,000 per year or nearly $1,000 per month. Awesome job!

]]> By: Jenniferhttp://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#comment-19171 Jennifer Tue, 28 Apr 2009 14:14:47 +0000 http://www.nodebtplan.net/?p=2578#comment-19171 I agree that it does take sacrifice to reach your goals. We paid off $22,000 of debt over the past two years. We are actually refinancing our mortgage today to get a lower interest rate and include our home equity loan, so by tomorrow I will officially be debt free except for the house! But one of the ways we reached our goal was by increasing our income. I started a business selling handcrafted pendants on Etsy. It has brought in some great extra income and hasn't been a sacrifice at all - it has actually been a lot of fun! I agree that it does take sacrifice to reach your goals. We paid off $22,000 of debt over the past two years. We are actually refinancing our mortgage today to get a lower interest rate and include our home equity loan, so by tomorrow I will officially be debt free except for the house!

But one of the ways we reached our goal was by increasing our income. I started a business selling handcrafted pendants on Etsy. It has brought in some great extra income and hasn’t been a sacrifice at all – it has actually been a lot of fun!

]]> By: Kevinhttp://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#comment-18391 Kevin Thu, 23 Apr 2009 01:51:43 +0000 http://www.nodebtplan.net/?p=2578#comment-18391 @Fabulously Broke: Awesome. Wow. $60k in 18 months is huge -- what kind of income are we talking here? Also, now that you are out of debt, have you gone back to your old ways or kept the budget the same? @Irina: Thanks. Sometimes you have to stop beating around the bush. @Trevor: Good point. Getting ahead at work, building a business, etc. all require sacrifices. Luckily the goal is easily quantifiable with debt. Pay $X off and save $Y in interest. @Chris: Great progress! Again, it depends on the income you are talking about, but $19k in debt is nothing to shake a stick at. @Cathy: What sort of free entertainment were you utilizing? Always looking for more ideas. About Jamaica: I've always said that you still have to live. Don't cut out everything or then you're just a hermit. @Fabulously Broke: Awesome. Wow. $60k in 18 months is huge — what kind of income are we talking here? Also, now that you are out of debt, have you gone back to your old ways or kept the budget the same?

@Irina: Thanks. Sometimes you have to stop beating around the bush.

@Trevor: Good point. Getting ahead at work, building a business, etc. all require sacrifices. Luckily the goal is easily quantifiable with debt. Pay $X off and save $Y in interest.

@Chris: Great progress! Again, it depends on the income you are talking about, but $19k in debt is nothing to shake a stick at.

@Cathy: What sort of free entertainment were you utilizing? Always looking for more ideas. About Jamaica: I’ve always said that you still have to live. Don’t cut out everything or then you’re just a hermit.

]]> By: Cathyhttp://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#comment-18333 Cathy Wed, 22 Apr 2009 16:27:39 +0000 http://www.nodebtplan.net/?p=2578#comment-18333 I paid off $35,000 in debt in 5 years. I reprioritized my money and only spent on things that mattered to me. I didn't buy the latest gadgets, I learned to cook at home, and I found a lot of free entertainment. I still saved and paid for scuba lessons and a trip to Jamaica - that was important to me. I suppose I could have trimmed that, but it would have only saved me an additional 2 months. If my balance wasn't going down, then I wouldn't have done it. I paid off $35,000 in debt in 5 years. I reprioritized my money and only spent on things that mattered to me. I didn’t buy the latest gadgets, I learned to cook at home, and I found a lot of free entertainment. I still saved and paid for scuba lessons and a trip to Jamaica – that was important to me. I suppose I could have trimmed that, but it would have only saved me an additional 2 months. If my balance wasn’t going down, then I wouldn’t have done it.

]]> By: Chrishttp://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#comment-18265 Chris Wed, 22 Apr 2009 03:42:14 +0000 http://www.nodebtplan.net/?p=2578#comment-18265 We had let debt including mortgage blow out to $85000 so as to renovate our house and travel with our children. Just over 12 months ago we decided it was now time to clear the debt, the kids had moved on in their needs. We have moved from $85,000 to $56,000 in 13 months. We only buy stuff we need, and will still spend on family experiences and nothing else. I plan to be down to $40,000 by the end of 09. It only works if both parents agree that debt should be paid off and sacrifices need to be made. We had let debt including mortgage blow out to $85000 so as to renovate our house and travel with our children. Just over 12 months ago we decided it was now time to clear the debt, the kids had moved on in their needs. We have moved from $85,000 to $56,000 in 13 months. We only buy stuff we need, and will still spend on family experiences and nothing else. I plan to be down to $40,000 by the end of 09. It only works if both parents agree that debt should be paid off and sacrifices need to be made.

]]> By: Trevor @ Financial Nuthttp://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#comment-18210 Trevor @ Financial Nut Tue, 21 Apr 2009 18:45:47 +0000 http://www.nodebtplan.net/?p=2578#comment-18210 Getting anywhere in life takes sacrifice. But I like how you highlight the need to actually set the goal. That's one of the most important parts. Make sure it's not just a thought or an idea; make it a goal! Getting anywhere in life takes sacrifice. But I like how you highlight the need to actually set the goal. That’s one of the most important parts. Make sure it’s not just a thought or an idea; make it a goal!

]]> By: Irina Ihttp://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#comment-18209 Irina I Tue, 21 Apr 2009 18:32:51 +0000 http://www.nodebtplan.net/?p=2578#comment-18209 Great post! Gets right down to the point, without being touchy feely. People should learn to be in control of their finances, and not the other way around. And they will not be in control unless they try the sacrifice thing at least once. I am still working on it. Great post! Gets right down to the point, without being touchy feely. People should learn to be in control of their finances, and not the other way around.

And they will not be in control unless they try the sacrifice thing at least once. I am still working on it.

]]> By: Fabulously Brokehttp://www.nodebtplan.net/2009/04/21/are-you-willing-to-sacrifice-to-succeed/#comment-18192 Fabulously Broke Tue, 21 Apr 2009 14:51:47 +0000 http://www.nodebtplan.net/?p=2578#comment-18192 Yes. I did this to get out of $60k of debt. I cut down as far as I could go without noticing things were being cut, or I just changed my attitude. I snowflaked pennies towards my debt and it was done in 1.5 years Yes.

I did this to get out of $60k of debt. I cut down as far as I could go without noticing things were being cut, or I just changed my attitude.

I snowflaked pennies towards my debt and it was done in 1.5 years

]]>