My Journey out of Debt

Featured customers currently enrolled in a CareOne Debt Relief Plan, share journey to become debt-free; hear how they juggle family, finances, and more.

Sacrificing to Become Debt Free

Rate This

It's hard to sacrifice.  We're a full year into our projected five-year Debt Management Plan to get out of debt, and after all the budget cutting, downsizing, and life-simplification projects, I'm finding that I'm not yet done cutting the excess fat out of my life in order to effectively live within my means. 

Six and a half years ago, my wife and I built a new house.  Within a year, we added a large concrete patio with a hot tub.  It was delivered on Valentine's Day, 2005.  Can you imagine?

I got my wife a hot tub for a Valentine's Day present.  I thought I was being creative.  It took some creative financing, that's for sure. 

Download a Free Budget Planning Guide


Those were very different economic times.  The mailbox was full of credit card offers with low introductory rates.  If you wanted to make a large purchase, there was always zero percent financing available, with low monthly payments.  It was almost as if businesses were willing to accommodate anyone, making it easy to say, "yes" to purchase anything, no matter the long-term consequences.   

The salesman said that it would have a nominal effect on my utility bill.  Of course I took his word for it.   We had it delivered during the winter of our first year in the new house, so I never really got a feel for the baseline of what our utility bill could be.  Only within the month did I compare utility bills with my neighbor. 

I was shocked to find out our electricity bill was over $100 more than my neighbor's, who has almost an identical sized house.  This is during the summer when daytime temps are in the 80s.  I can only imagine how much I was paying to heat 500 gallons of water when it was below zero outside in the dead of winter. 

Then came the repair bills.  We had things go wrong with it before, but it had been under a five-year warranty.  That warranty has now expired, and we just found out that the electronics panel needs to be replaced to the tune of $750.  Between the utility bill, the maintenance chemicals, and now a repair bill I can't afford, I just cannot justify keeping it. So, we are investigating selling it back to the store we bought it from, or having them sell it on consignment. 

In the overall grand scheme of things, it's not a life changing event.  A hot tub is a luxury item that we can certainly live without.  The thing that makes it hard is that the hot tub was one of the very few large items that we had purchased with creative financing that we actually had followed through with a plan and paid off. 

Here we are, having to get rid of it because of all the other poor choices that we've made.  It is a reminder, twelve payments into our Debt Management Plan, that we have to constantly re-evaluate our financial situation and sacrifice when necessary, to continue to live with a budget. 

When the hot tub is taken away, I will look at the empty spot it occupied and think about all the good times we've had while sitting in the hot tub with friends and family, as well as  the relaxing late night soaks by myself gazing at the stars above.  I will also think about the future, when we are out of the grasp of unsecured credit card debt, and will hopefully be able to afford a hot tub and fill that space again. 

Do you have things that you've had a hard time giving up since you've joined the Debt Management Plan?  Share your experiences with the community! 

Related Posts: 

Life Simplification

Running the DMP Marathon

Communication

Travis Pizel

Travis is a contributing writer for the My Journey Out of Debt blog and is a very active member of the community forums. Travis is currently enrolled in a CareOne Debt Management Planand in his posts he shares his personal journey to pay off his debt and the tips he's learned along the way. As a father and husband he provides a unique perspective on balancing debt, finances, and family. Compensated CareOne Blogger.

To follow us click here

Your comment has been posted.   Close
Thank you, your comment requires moderation so it may take a while to appear.   Close
Leave a Comment
  • * Please enter your name
  • * Please enter a comment
  • Share
  • Not many companies can say that their customers were so passionate about being customers that they would take two days out of their lives, vacation time from work, and time away from their families to speak to what they believe has been their financial

Page 20 of 20 (286 items) «1617181920
Your comment has been posted.   Close
Thank you, your comment requires moderation so it may take a while to appear.   Close
Leave a Comment
  • * Please enter your name
  • * Please enter a comment
  • Share