I was drawn to this quote by Confucius when I saw it at a recent seminar for my MBA. As I sat in the class and viewed this quote on the screen, I thought of my family’s debt. The debt that was growing with each day that I studied on my expensive MBA, planned our holidays, and paid our bills. And it dawned on me that I did not have to tackle our debt head-on as I always had in the past, recklessly failing each time in frugal exhaustion. I could, instead, disassemble our debt mountain one small stone at a time. This is what I hope to do, and I want to capture it on this blog.
A blog will be good for me. I often find myself speaking about my personal finances with friends and family. I am open with my money and have no problem blurting out my debt, net worth, monthly bills or anything else. However, the response I get is usually silence (in a very polite and British way), but silence nonetheless. I soon realise, after awkwardly changing the subject, that what I desperately seek is a kindred spirit financially, someone to bounce ideas off, someone who wants to listen but also share. I am drawn time and time again to personal finance bloggers who pour their monetary hearts out. I like to read about successes and failures and to know that paying off debt is not only possible but achievable!
The purpose of this blog is to hold me to account. To help me reach the ultimate goal for my family, which is to be debt-free in 10 years. And I am talking completely debt-free: no student loans, no personal debt, no mortgage, nothing. This is a huge task! Our debt at the end of April 2017 is just shy of £285,000! Based on my calculations paying this off in 10 years is a stretch, but with some support from the online community, I think I can get there.
I also have made the decision to write anonymously on this blog. I have written blogs in the past and happily disclosed my identity on those, which worked well for those blogs. However, for a finance blog I want the freedom of anonymity. I want to talk openly and honestly and anonymity will give me that for now.
I plan to post net worth updates to start and basic posts about how we budget, what our plan is to pay off our debt and any financial changes that we make to help us towards our goal.
Welcome to our journey!