The CreditFairy and how I really got rid of all my debt in 2 years! A true story!
I used to be all about social status and impressing others. Where I live here in Austin Texas this is the norm as everyone lives way beyond their means. We dine at the best restaurants, wear the finest clothes and drive cars that used to be reserved only for millionaires like Mercedes-Benz, BMW and even Aston Martins.
But what does this lifestyle really get you? It makes you a part of the affluent in crowd that will disown you in a heartbeat if you were to ever lose your job or your status. The worst thing about this in crowd is that you have to always “keep up with the Joneses”. What that means is that if your friends upgrade to a newer Mercedes-Benz or more expensive car then you’re expected to do the same and if you don’t you risk being ostracized.
These aren’t real friends and all you end up with in the end is a load of debt. I had over $50,000 in credit card debt, a $1300 per month car payment, and never-ending bills that kept coming in. I had finally grown sick and tired of the in crowd and I no longer wanted to live this high debt lifestyle. When I was younger I wanted to be the Reggie from Archie comics and be chasing after Veronica (the rich heiress).
Instead I began to find that true happiness does not exist in living beyond your means to keep up a false lifestyle. So I would rather be Archie and stick with Betty (the hot blond that did not need a sugar daddy and was happy with Archie just because he was Archie).
So 2 years ago I took it upon myself to figure out all the debt that I had and I created an Excel spreadsheet to track it with. I took 20% of my earnings from every paycheck and put it towards paying down my debt. That was the minimum. If I found that I had excess funds for whatever reason it went to paying down my debts.
My goal was to be financially free and out of debt as soon as possible. Now I was really seeing the costs of all those $15 martinis, $100 shirts and other expensive frivolous items that I had purchased throughout the years. If only I had been smarter and not taken on this debt, but enough of the wishing. I was going to change things now permanently.
I did not buy anything frivolous and kept a very good watch on what I spent. I paid down the debts which had the highest interest rates first. I also downsized and got rid of my Mercedes Benz. I went to a used Nissan Maxima and found that not only did I save big on the car payment but I also save big time on my car insurance.
I found a nice 1998 Nissan Maxima that was well cared for and paid cash for it so I no longer had a $1300 a month car payment. I also found my car insurance was now one fourth of what it originally was with the Mercedes-Benz. And again any extra monies I had a put back in to paying down my debts.
It was hard at first to do this. It was kind of like quitting smoking. It was very hard on me for the first couple of months and yes, just like I had thought, the in crowd had ostracized me and laughed at me. Well, exactly two years later, three years ahead of schedule, I made my last payment on my debts and became 100% debt free! Let me tell you that was an unbelievable feeling!
Now since then we’ve had this huge recession and many of the people in the in crowd that ostracized me have filed for bankruptcy, lost their jobs and had all sorts of financial nightmares in their lives as they continue to spend well beyond their means and live a false affluent lifestyle. I am happy. I have no debt. And I’ve also found my Betty! I found a beautiful woman that doesn’t need nor want the rich lifestyle.
She’s happy with me just as I am. She doesn’t care that I drive an old Nissan Maxima or that I don’t wear the fanciest fashion clothes. I don’t dress like a slouch, but I also don’t pay $100 for a shirt anymore. I have learned to shop at stores like T.J. Maxx, Marshalls and Ross’s to get great deals on clothes and more. I actually like saving money and even though I’m out of debt I have no desire to get back into debt.
With a little perseverance and determination you too can become debt free. The CreditFairy.org is a resource that shows you what you can do to save some money and try and reduce your debts and increase your credit score, but what you really need to do is up to you. You need to take action and change your lifestyle. You cannot go on living beyond your means and expect everything to be fine and dandy forever. You can’t expect an Obama bailout every time. Eventually this credit fairy tale ends with a ton of debt.
I am so glad I’m out of debt completely and I will never let myself get into debt like that ever again. There are lots of books and websites out there that promise to help you get out of debt. Whether you use a website like CreditFairy.org or a book like the Automatic Millionaire, in the end these things can’t do it for you. You need to make a lifestyle change and only you can do this. I wish you luck in your endeavors and hope you can become debt free just like me – it’s the best feeling in the world – next to having found my Betty – of course!
