Every time you borrow money, you’re robbing your future self–Nathan W. Morris
Debt can destroy lives. I saw my parents struggle with mountains of debt when a business failed. I have friends that let debt drive them into bankruptcy. And my wife and I once had our share of debt. We had it all. We had credit card debt. We both had school loans. We had car loans. And we had a huge home equity line of credit.
Today, the only debt we have is our mortgage. So we know firsthand just how liberating it is to be have no consumer debt. But we also know how difficult it is to get out of debt.
You’ll make mistakes along the way; we did. You’ll get frustrated; we did. You’ll get angry at each other; we did. But hopefully you’ll persevere; we did!
And for this reason I’m happy to share with you The Debt Movement. The Debt Movement is a group of personal finance bloggers, let by my good friend Jeff Rose of Good Financial Cents and Ready For Zero.
Jeff reached out to me about this movement late last year, and I’m excited to be a part of it. Once you join the movement (it’s free), here’s how it can help you:
- Make a pledge to pay down a certain amount of debt between now and April 30, 2013.
- Follow the Debt Movement Blog as financial bloggers and experts share tips, tales and tools to help you get out of debt
- Get involved in the Debt Movement Forum of like-minded people all trying to reach a common goal.
The goal of the movement is for the community to pay off a whopping $10 million in debt. If that sounds crazy, blame Jeff, it was his idea!
But to help us reach that goal, a group of personal finance bloggers and companies have funded a scholarship to help folks pay off there debt. I’m happy to be a contributor to the scholarship. And right now we’ve generated $15,000 toward the fund! You can get more details on the scholarship here.
Finally, watch the video below from Jeff Rose about the debt movement. And then if you have debt, join the Debt Movement and start paying of your debt once and for all.