Comments on: Personal Debt Update: $177,266 to go…

By: Waltereo

Waltereo — Wed, 14 Oct 2009 04:10:31 +0000

Nice site and nice job.

A question how did you manage to go from a debt of over 300k in January to 177k in September ??

By: Financial Samurai

Financial Samurai — Thu, 08 Oct 2009 04:55:03 +0000

DK – Way to claw yourself out of debt! I’m glad you are so focused on paying back your mom and taking care of her. Family is most important!

Best to you.

By: Jonathan

Jonathan — Tue, 06 Oct 2009 09:14:51 +0000

Wow man, this is an amazing blog. I’ve got so much from reading your story. Orginally came across this link in relation to Caseys story, though you two couldn’t be further apart….

By: chris

chris — Tue, 22 Sep 2009 20:18:39 +0000

nice work i like you have your site put together again also

By: debt kid

debt kid — Fri, 18 Sep 2009 22:28:59 +0000

Thanks Jessica. My software business has a pretty long lead time. IE, we may build something that takes 4 months or more to see any revenue. So that cash cushion is important in case I ever needed to put money into the business. I shouldn’t have too, but cutting things close cash flow wise isn’t appealing to me! I’d rather be safe, and payback the debt a little slower.

By: jessica w

jessica w — Thu, 17 Sep 2009 20:49:14 +0000

I like the new logo a lot too! It looks like it’s “fast” (for lack of a better term) like the smooth lines in a sports car. Good choice.

I’m curious about your method of debt repayment–I think I’ve missed this ealrier. Are you going highest-interest first, or lowest balance first? Also, why are you maintaining so much in savings when you could be paying down debt? I’m only curious–not criticizing.

By: debt kid

debt kid — Thu, 17 Sep 2009 20:42:48 +0000

Thanks for the kind words!!

By: imho

imho — Thu, 17 Sep 2009 02:42:28 +0000

DK – GREAT JOB. You really are doing great – you have the right attitude, work ethic and follow through. So inspiring.

Just wondering – is the $100k savings meant to tide you over for a certain number of months if the business does not do so well, or is it just an amount you picked out? Agree 100% on paying off the IRS ASAP. Unless there is a tax advantage with studen loans these days, it seems to make sense to lower your savings goal to $50k and pay off the student loan at 6.5%. I understand not hurrying to pay off 4.5%. Is the state tax paid off? What about all the credit cards you used to list? I seem to recall some were personal and some business; even if you don’t want to post the specifics, it would help understand the big picture you could update a general status on those.

I used to wonder about your Mom’s opportunity cost in not having her money invested during the payback period of your 0% loan, but it sounds like you plan to more than pay her back. You are an honorable man.

By: debt kid

debt kid — Tue, 15 Sep 2009 19:35:27 +0000

Ha! Just upload a picture to gravatar.com and then you’ll have your own avatar!

By: Sallie's Niece

Sallie's Niece — Tue, 15 Sep 2009 19:26:08 +0000

Oh no, why did it give me an angry face? I want a happier avatar!