Debt Free Questionnaire!
30 Oct, 2022
For many years I’ve published the responses to my Net Worth Millionaire Questionnaire. With 163 (and counting) responses, it continues to be a well-read part of my blog.
But there has been another questionnaire I’ve wanted to add for a very long time. I want to create a supportive space where people can come to share that they have successfully paid off a single debt or become completely debt free.
I have wanted to add a debt free questionnaire to my blog for a long time. I’m inspired in part by the Debt Free Screams I have heard over the years on The Dave Ramsey Show.
I don’t think I could ever convince a Kiwi to go on camera and do such a thing!
I am unashamedly in favour of people getting out of debt because it is a pivotal step in becoming financially independent. The reason for this is relatively simple. People with no debt appear happier and less complicated, experience fewer financial setbacks, are more generous with their time and money, and enjoy more freedom. What’s not to like?
I don’t think of ‘good or bad’ debt; in my mind, it is all money you owe someone else. Whatever you owe and to whom, I’m always interested in the exit plan people create for their debt, which gives them a road map for when exactly they plan on becoming debt free.
I absolutely understand that debt is unavoidable for most, particularly when it comes to a home. Still, I constantly get the opportunity to hear from people who have found themselves, just little by little, in all sorts of consumer debt too. Often this weighs heavily on them.
Many decide to do something to change the situation they find themselves in, and they embark on the long journey to become debt free. How people go about it is fascinating to me.
A welcome and unintended consequence of my blog is that many people privately email me to share the exciting news that they have become debt free, and I always find it a shame that others can’t hear about their success and how they did it.
Emails often begin with, “I didn’t know who else to share this with, but I thought you would be excited for me, Ruth”!
They write to tell me they have paid off all sorts of things:
Mortgage
Student loans
Rental property
Credit cards
Holiday
Store cards
Personal loans
Car
Why tell me?
Because they know that I’m an advocate of taking control of your money, becoming debt free, and having financial independence. They know I’ll be incredibly excited for them, which I always am! I have a lot of understanding about the physical, mental and emotional work that goes into paying off debt. Much like training to run a marathon, becoming debt free takes a considerable amount of work and discipline.
When they share their fantastic news with me, they are not boasting; they recognise that I know how hard they have worked and are keen to tell someone they know will be excited about their achievements. They want to share why they decided to do it and what they learned. And how good they now feel! Because paying off debt is not so much about interest rates and math, it becomes emotional for many.
I’ve been emailing some people for years as they dig themselves out of all kinds of debt. My favourite email streak has the subject line: Keep Going JO!!! Creating this questionnaire is done with people just like Jo in mind. I want Jo to see the progress that others are making.
I love getting updates about progress and commiserating about the setbacks. I do my best to provide encouragement, motivation, and information to keep them moving forward.
I am all about celebrating financial success. If you have achieved a considerable milestone, such as paying off a car, credit card, student loan, designer dog or mortgage, I’m creating a space to share your exciting news!
You ought to know the following:
I will never share your personal information with others.
I may lightly edit your response to remove spelling errors and improve the layout.
Readers of your responses are looking to take away advice they can use in their money journey, so please feel free to add as much detail as you feel comfortable.
Even if you have paid off one debt but have others to go, feel free to share!
As with my Net Worth Millionaire Questionnaire, responses come in slowly and they build up over time, so I’d encourage you to check back in from time to time.
Thanks, in advance, to those who fill it out.
And more importantly, CONGRATULATIONS FOR BECOMING DEBT FREE! You are awesome!
