Our FIRE Movement & Debt Free Goals

The Definition of Insanity

Albert Einstein is widely credited with saying, “the definition of insanity is doing the same thing over and over again, but expecting different results”

Listen, I’ve fallen victim to this. Big time. I shared a post from Dave yesterday that simply said, “Don’t Borrow Money”. From as early as I can remember, borrowing money was the norm. I didn’t learn budgeting (I mean I learned how much money I could spend without going broke…that count? Lol), I didn’t learn that cash is king, I learned credit scores and interest rates. Essentially the only way to succeed was having a high credit score to get the best/lowest interest rates. Same for anyone else?

Shameful Purchases

Look, as shameful as it is to admit today, back in 2007…I borrowed money to buy a $3000 Jetski. I borrowed money for a TOY. The good news is, I did pay it off (2 years later, but paid another $1500 or so in interest) on a Jetski that I ended up selling for $2200. Now, I came out ok in the end, because Meredith and I bought a Tempurpedic King Bed with that cash and we still have that bed today.

Down the Rabbit Hole…Again

But as that definition above says, I went down the borrowed money rabbit hole several more times. Same result. Paying a good chunk of money in interest…BUT, BUT my CREDIT SCORE will be AWESOME! 👎🏻.

What if you bought everything with CASH?

Think about this…how would you live if everything you owned was bought with Cash including your home? Unless you really loved to climb the corporate ladder, what would be the point? I could think of 3 other careers I’d do with zero stress, I pick my hours, & the only income needed would be for food, gas, and vacations.

Unpopular Opinion, there is ONLY BAD DEBT!

We used to believe there was good debt and bad debt. Which is completely subjective based on who you talk to, but over the last 19 months, we sincerely believe ALL debt is bad debt. As Dave Ramsey says, “a borrower is slave to the lender”. So true. We don’t want to be slaves anymore, which is the whole point of our journey.

Money is ONLY a Tool

“Money is just a tool. You’re either its Master or its Slave. When money has the power over you, that’s the path to slavery. When you use money, and don’t let money use you, that’s the path to freedom”. —Daniel Cerescu.

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