Case Studies
Why I Made an Egregious Mistake
Friday, October 19th, 2007After reading Part 6 of my story, Anonymous Reader writes: “I can’t believe after all you went through, you didn’t learn your lesson. [...] What are you going to do about this egregious lapse of reason?”
It’s an excellent question, even if it is a bit hard for me to swallow. But before I begin telling [...]
Popularity: 2% [?]
The Story, Part 6
Thursday, October 18th, 2007In Part 5, it looked like I was headed for a debt-free life. I had paid off over $20K worth of unsecured debt in 11 months. But a few things conspired to put me further in the hole.
For one, I got greedy.
You see, I love motorcycles. I commuted on one for an entire summer before [...]
Popularity: 2% [?]
The Story, Part 5
Wednesday, October 17th, 2007My focus on reducing our debt paid off during late 2006.
Every time I got paid for a new copywriting project, I’d practically zero out my bank account to pay off outstanding debts. This reduced our debt fast. Here’s a snapshot of what our debt load was like when we started…
After just 11 months of intense [...]
Popularity: 2% [?]
The Story, Part 4
Sunday, October 14th, 2007We lived with my parents for five months. Then we bought a home. We qualified on my income alone (my wife stays home with our kids)… but barely. The first year was rough. We ate eggs and oatmeal a lot.
Still, I was seeking “the” opportunity that would make me rich. So I began blogging [...]
Popularity: 3% [?]
The Story, Part 3
Saturday, September 29th, 2007When I was trying to buy vending machines to start a vending business, the U.S. was in the midst of a real estate boom built on the shoulders of the Fed’s low interest rates. Second mortgages were becoming as fashionable as SUVs.
My condo had appreciated about $20,000 in a year. I had also put down [...]
Popularity: 2% [?]
The Story, Part 2
Friday, September 21st, 2007When I turned 18, I immediately joined Amway. This was before I was married. I cold-called. I drew circles. I drove all over the country to rallies and events. I must have spent a small fortune during the 3 years I tried to succeed with MLM.
Well, sometimes I’m not a fast learner. Around the time [...]
Popularity: 9% [?]
The Story, Part 1
Wednesday, September 19th, 2007My wife and I were married on September 11, 1999. When we got married, neither of us had any debt.
We both had good jobs. I worked for Merrill Lynch. My wife worked for Parker Blake, a company that specialized in commercial picture framing.
At first, we lived modestly. We drove a 1985 Saab 900 Turbo that [...]
Popularity: 3% [?]
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