Reasons Why I’m Paying Off Debt

reasonsBy now most of you know that I have a lot of debt that I’m working on paying off. I managed to get it under $70,000 last year which was a decent start. When I tell people that I’m paying off my debt I get some crazy responses sometimes. I’ve heard that it’s not possible to pay it off. I’ve also been told that I only need to pay the minimum because I will have debt forever. When I hear stuff like that I choose to simply ignore it. In today’s post, I share with you the reasons why I’m paying off my debt.

Not Normal

Having debt is something that has become very normal in this country. I don’t want to be normal. There is nothing cool or fun when it comes to owing companies thousands of dollars. I want to eliminate this debt so that I’m not considered normal anymore.

Tired of Sallie Mae

Luckily, I’ve been able to make my monthly payments to Sallie Mae (Navient) for a while now without any problems.  I haven’t received any harassing phone calls from them during this time, but I can remember when they used to bug the hell out of me at least 5 times a day. I still get a monthly statement from them and honestly, I can’t wait until its history. I dislike Sallie Mae so much that I’ve come up with a t-shirt design to show people how I really feel. Check it out here. It’s an update from the design that I tried selling last year. If you decide to purchase one I would be happy. The proceeds are going towards my debt repayment.

Not Able to Save or Invest that Much

With all this debt that I have, I’m not able to save or invest that much money. I’ve made it a point to save a lot more money this year. I increased the amount of money that I’m saving from each paycheck. I also need to learn more about investing. If you have any beginners investing tips please share them with me.

Travel More

Traveling is very important to me. It truly is my anti-drug. When my debt is eliminated I will be able to do more of it. Besides completing another cross-country trip, I would be able to visit other destinations such as Hawaii, Egypt, and Rio de Janeiro. It would be much easier to book those trips without having to worry about paying my debt first.

Do More for my Family

Without my debt, I’d be able to do more for my family. I’d also be able to assist them with paying off their debt if they needed it. I’d also be able to pay for a family trip by myself. This is something that I’m looking forward to.

Show others it Can Be Done

The final reason that I want to pay off my debt is to motivate and show others that it can be done. Once the debt is gone I want people to realize that if JB from Atlanta can do it then so can you! I know that this won’t be the easiest task, but I’m ready to make it happen.

If you have debt, why are you paying it off?

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  1. I’m paying off my debt for similar reasons. I would to travel more, save and invest more and just be able to control my own money and where it goes better.
    Chonce recently posted…December Online Income ReportMy Profile

  2. You are so wise to have adopted this attitude. We’ve become numb to debt in this country. This huge election looming, and few of the candidates ever mention the 80 trillion dollar debt that carries grave consequences for this country. But that holds true for all of us a individuals. I wish debt carried the stigma of some other four-letter words!
    Jacqeline Gum recently posted…A Break For Where’s The JusticeMy Profile

  3. Good for you! It’s sad how normal debt is. It’s good to be unconventional 😉
    Melanie @ Dear Debt recently posted…How I Plan to Help You Pay Off Your DebtMy Profile

  4. I feel the exact same way, I can’t imagine being in debt for the rest of my life! I don’t even think I’ll get a car until I’ve saved enough to pay at least 75% upfront. Debt ain’t cute!
    Lauren recently posted…3 FREE Sites You Probably Haven’t Used to Learn LanguagesMy Profile

  5. On my blog, I’m recording my progress in achieving my goals. One of those goals is also to be financially free. I’d like to travel more as well, however I’d just like to have more money to invest in the overall health and well being of me and my children.

  6. I can’t even imagine how is to be debt free. I have lived all my life with a loan. This is my goal too, to pay off my debt. Thank you for your thoughts.

  7. Congratulations to you on taking steps to pay off sent. Dont listen to the naysayers who say you can’t do it. Remember misery loves company. It will be such a great and liberating experience when you are out from under that burden. 🙂
    Susan cooper recently posted…Columbia Crest Two Vines Cabernet: #WineMy Profile

  8. I want to show people it’s possible too! We have law school friends who either have aggressive pay off plans or see the debt somehow disappearing after 10 or so years. I want to pay off our debt in 3-5 years. With two incomes, I think it’s defiantly possible. Good luck.
    Mrs Lewis recently posted…$ave Dat Money- Caution Explicit ContentMy Profile

  9. Your determination continues to inspire, Jason!
    Yes to ignoring the people who say don’t bother, that you’ll always have debt. At this time, we have a mortgage payment (for a couple of more years) and that is it. We are not wealthy people, but we don’t buy anything we can’t pay for–even though we use a credit card for nearly every purchase. We do that to get points.

    My parents taught us: If you need a new..washer…buy it either outright or on a plan, pay it off and do not buy anything else until it is paid off. They were amazing with their money management.

    You can do it, too and all those trips will become reality!
    Rose Mary Griffith recently posted…Hawaiian Hiking – Part 2 – Hawaii “The Big Island”My Profile

  10. Jason, I applaud you for wanting to get out of debt. You can not listen to people in debt.

    Just like you can not take investing advice from a wino.

    I have debt and a plan as well. I plan to be debt free in 3 years.
    Michael Belk recently posted…Is Washington Redskins QB Kirk Cousins The Most Frugal NFL Player?My Profile

  11. I have followed your posts with very much interest for I too, am on the same path.
    For me, it is an accomplishment to do, something to be proud of when you finally get out of debt.
    Thanks for sharing this with us, and I will continue to follow you and wish you luck in getting that debt down.

  12. We’re all rooting for you on this Jason and share your pride when you report some progress.

  13. All great reasons Jason – With your determination, your plan and your goals you will get there – All the best to you.
    lenie recently posted…Vegetable Gardens for Small Space GardenersMy Profile

  14. Great attitude! You are not admitting defeat and have a plan to clear your debt in a certain period of time.

    When you owe, you feel bound to a person or organisation. Hope you plan to do something extravagant on clearing all your debts!
    Phoenicia recently posted…Saint Valentine’s Day – Yay or Nay?My Profile

  15. Like some of the others who have commented here, I too think you are wise and responsible to work at paying off your debt. You’ve made great progress over the time I’ve been reading this blog. I admire your determination and common-sense approach. Good luck.

  16. Besides the reasons given above, I would point out that repaying a debt is in most cases a form of “paying it forward” that will make it easier for your creditor(s) to offer credit to someone else who may want to buy what you bought. (However, I can see how you wouldn’t feel this way with a creditor like Sallie Mae.)
    Andy recently posted…From Point A to Point BMy Profile