What is The $60K Project?The $60K Project is my attempt at making sense of how and why I came to owe so much money and making every possible attempt to get rid of it. I am a well-educated person who brings home a very good salary every year. Yet I still feel poor. Cash poor. A lot of my income is consumed by monthly payments towards cars, student loans and credit card debts. The remaining balance in my checking account seems to disappear into thin air - where does it all go? My savings is meager and in a sense I am living paycheck to paycheck. I finally realized I was going down a treacherous path towards continuous money struggles, feeling stuck in a job just to pay bills, and general feelings of unhappiness and anxiety about finances. Money, not me, was dictating my life's direction. I had to do something. The $60K Project captured one year of my life devoted to paying off sixty thousand dollars in debt in hopes of finding a better way to live.
The $60K Project challenge started on October 15, 2010. Ten months later - and two months ahead of schedule - $60,000 of our debt was gone. Paid off.
Why Should I Read This? I am inspired by personal triumph. My favorite day of the week is Friday because I get to hear people call in to Dave Ramsey's radio show and announce how much debt they paid off to become debt free. My hope is that The $60K Project will not only help to keep me inspired to attain my goal, but will also inspire readers to take control of their finances and eventually be able to live the life they really want to live by getting rid of debt. I want readers to learn enough to confidently question the so-called "financial advice" fed to us through various media outlets every day. Finally, I just want to inspire at least one person to make some changes in their life and work towards becoming debt free.
Explore, laugh, cry, comment, ask questions, have fun!!Where Should I Start? Want to learn more about the successes and challenges in store for those of you trying to successfully pay off all of your debt? Start at Day 0 and work your way forward or look through my archives for individual posts you think sound interesting. If you are ready to begin your debt payment plan, take a look at Twelve Steps to Debt Freedom - a guide to help you and me find the best way to get rid of those loan balances.