Tuesday, April 28, 2009

Blogging My Debt

For those who don't know me very well I have an abiding interest in money, wealth, and how one can be a good steward of the resources one receives. Part of being a good steward is becoming debt free. IMO there are two kinds of debt, good debt (debt for something that will bring in more money such as rental property) and bad debt (consumer debt- credit cards, car loans, etc.).

I believe that by keeping a log of my progress of becoming debt free and building up a reserve I will be more inclined to do what I say here. For starters I currently have a debt of $1,100 to pay off. I wish to build a reserve consisting of $12,000 in the bank and $5,000 in I Bonds. I will continue to log my monthly progress (or set backs) here. Any words of encouragement or advice are greatly appreciated.

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