As you might already know, most people today are drownining in debt.
If that’s you, I’d like to introduce you to a nomad (that’s what she calls herself) that got fed up with the system and decided to do something about.
Over on her blog, I found this nice little post that she talks about how she went from $60k in debt (give or take) and in about 18 months ended up with a net worth of about $180k.
It makes for a nice read. Here’s a few points that struck a chord with me:
“1. Being sick of my debt”
“I was disappointed, no, DISGUSTED with my unorganized finances. I couldn’t believe I let myself rack up that much debt, and I knew I could have done better.
Letting bygones be bygones, I used that disappointment to motivate myself to make a change for the better.
Every time I looked at that number, I would feel even more motivated to watch it go down, and I was scrutinizing every purchase I made, because it had an impact towards my end goal of being debt-free.”
Obviously, this is the first step. You never do something about something that you tolerate. And for most people in debt, they tolerate the system and habits that put them there.
Here’s another one:
“2. Being obsessed with understanding my money”
“I read about people’s spending, their lifestyles, tips, tricks.. anything I could get my hands on. I became obsessed with trying to understand my money by reading what other people did with theirs, and seeing how it made me feel.
The top 5 things that stood out to me were:
1) No one else has a better interest in your money than you do
2) $1 of your net income saved is $2 of your gross income earned
3) You WILL make mistakes: don’t get mad, just learn from them
4) Compounding interest is magical
5) You need emergency savings (at least 3-6 months)I also credit this whole personal finance obsession of mine to reading a single book that changed my outlook on life: The Millionaire Next Door by Stanley & Danko.”
This is where I am right now. For too long I didn’t know where my money was going and all that has changed. I created my own spreadsheet and I am becoming meticulous about every penny being tracked.
It’s amazing what happens when you do that. You start to find out about your spending habits and your funds begin to increase.
Now that’s only 2 of the 7 steps that she talks about and I’d encourage you to read the other 5.
It’ll serve as some true motivation for getting out of debt and staying out.
If you enjoyed it, leave me a comment please. 
