Debt Destruction Archives - Traveling Wallet

01Feb 2016 by The Roamer 4 Comments

Trust the system

Continuous improvement, Debt Destruction, Freestyle

Systems What does that mean anyway? It means a set path. Following steps. That if you do A it will lead to B and then C. But I am having trouble with this one. See I'm taking an online course. Or should I say retaking it because last time I got stuck... Lost momentum and then stopped. Trust the system I said to myself after watching the video. What the heck does that mean anyways? (more…)

11Dec 2014 by The Roamer 16 Comments

Over 100K paid off in 3.5 years

Debt Destruction, Finance, Saving

When I started this blog, Traveling Wallet, I wasn't in the death grip of debt. Actually I was about to make my escape. I have written a few posts about my debt and my repayment journey. But I really wanted to take the time and give you the whole big picture. When I look at the numbers it just really amazes me. And I think its inspirational. That is why I am sharing. Like I've said before when I graduated I had a ball and chain of student debt attached to me to the tune of $46,695. With $10k of it at a horrendous rate of 10.75%. Can you say Wow! But that wasn't all. I had a car and no mechanical experience. To translate I knew nothing about this…

11Sep 2014 by The Roamer 3 Comments

Why I don’t endorse student loan forgiveness

Debt Destruction, Finance

Are you telling me you want to exempt and forgive people from paying student loans that they consciously got into of their very own volition. Have you ever heard the phrase necessity is the mother of invention. In plain English that means if you need it you will figure out a solution. As a person who just recently conquered student debt I have to ask myself, Why is this topic even on the table? The truth is the real problem is that so much money is being borrowed so let address the real issue not the symptom. People being way in debt is not the cause of the problem it's the result. The real problem is that students go into college not really understanding how money works and what it…

22May 2014 by The Roamer 5 Comments

University Debt Freedom

Debt Destruction, Finance

Hello Sunshine, Hello breath of fresh air, Hello Freedom! Today was the day, I recently sent in the last payment on my last student loan and today I received the marvelous confirmation that proves it all. When I started this student loan repayment journey it was 2011 and I was over $46,000.00 in the hole. The school loan companies(government included) in all their infinite wisdom gave me 10 years to pay it all off. How thoughtful and generous of them?? Let me see I thought I am 23 soon to be 24+10=34. I would be 34 years old when I would finish paying off my loans! 34! really? No thank you. Plus what about all the interest? Lets see if I did my math right it would come out to…

30Apr 2014 by The Roamer No Comments

Happy New Year Debt!

Debt Destruction

Narrator Note: So I've been pondering how best to make this post. I know it's an important one and highly needed to set the baseline of what I, The Roamer, am working with in regard to debt and to better highlight any accomplishments. So, I decided to take the plunge and just keep it short and to the point. The Start of 2014 greeted the Roamer clan with the following debt numbers, savings, and retirement contributions. Student loan debt $9046.44 with 6% Toyota loan $8902.75 with 2.99% Honda loan $17,479.69 with 1.99% That's a grand total of $35,428.88 With a joint saving account with ~ $11,000.00 Actively contributing to a 401k 15% of one earners income so less than 15% of our total earnings. But more significantly was the mindset…

05Apr 2014 by The Roamer 2 Comments

Break the Mold (Family, World and Riches)

Debt Destruction, Finance, Parenthood, Travel

Thanks for visiting me at traveling wallet. This Blog is about money and its relationship(role) to Parenthood, Travel and Early Retirement. (See tag line ;) ) I'm here to talk about my journey in working to optimize these 3 areas. Currently we (spouse and I ) are working parents. My current goals in life are to spend more time with my family( i.e. kids) and still save enough money to Travel and reach Early Retirement. But the first thing is to get rid of all my/our debt. The GOALS - Destroy Debt! - Actually raise our children -Travel (1-2 trips a year any combination of in state, out of state, and international) -Early Retirement (as in 50 or younger shooting for 45) So lets talk about why savvy spending and savvy saving…

Category: Debt Destruction