Our personal finance/personal development blogger this week is D R White of Motivating Minutes. As many of our readers know, we believe in the Law of Attraction. We believe that our thoughts create our reality. Negative thoughts create a negative reality. Likewise, positive thoughts create a positive reality.
D R White’s blog includes numerous motivation snippets, as we call them. Many are motivational videos. These are just enough to put our attitude in the right place when it’s in a bad place.
We’re working very hard to turn Debt Free Guys into a success. This requires a lot of time and effort on our part. As can be expected, some days it’s hard for us to stay positive and focused. One of D R’s posts that we like is “It’s Not Over Until You Win”. If this doesn’t get you motivated enough to get back to work, we don’t know what will. We, also, keep in mind that, as with many aspects of life, it’s about the journey and not the destination. D R’s video post “The Journey” is a great reminder of that.
1. What’s your story?
I remember distinctly the first time I ever really “used” my credit card. I had just graduated from college and moved in with a roommate. I had been using a cot for a bed and my roommate used to make cracks because I didn’t have an adult bed. So, after looking around at different furniture stores I found the most beautiful wooden sleigh bed which cost me nearly $1,000 dollars after delivery, taxes and the warranty was thrown in. It was the first time I’ve ever purchased something I couldn’t pay back in one paycheck. I felt so proud of myself I had just used “fake” money and only had to pay it back …someday. Fast forward 6 years and I was over in over $16,000 consumer debt. I would only bother look at the minimum payment since the balance and interest being charged to me scared me to death to even think about. There used to be a PSA that talked about debt and visualized it as a stickman being enclosed into an ever-shrinking box. I would immediately identify with that stick man and changed the channel. After going to credit counseling agency and becoming really annoyed by the fact that they wanted to charge me $50 a month to pay my bills for me I made a decision I could do this myself and resolved to become debt free. I read what the finance experts taught from Dave Ramsey, Suzie Orman and Lynnette Khalfani-Cox – I’ve also really enjoyed reading up on great PF bloggers such as the Debt Free Guys. Within 2 years of hard work I sacrifice I was debt free.
2. What’s your point of view, as a personal finance blogger?
I consider myself a personal development blogger most of all. That being said, I believe debt is just a modern day form of slavery. The key difference between the slavery of the 1800’s and the slavery of the 2000’s is that is completely optional. With the tragic exception of medical debt – I believe most people get into debt (consumer/student loans/car loans) in order to impress people who really don’t care that much about them in the first place. People who truly care about you don’t care if your watch is a Rolex or a Seiko, your education is GED or Ivy League and they would feel as comfortable riding in your Mazda as they would if you have a Mercedes.
3. In one sentence, what’s one piece of sage advice from your personal finance background that you’d like to share with our readers?
Keep a budget.
Visit D R White’s website, Motivating Minutes, sign up for his RSS feed and subscribe to his newsletter. His posts are very inspiring and we’re sure you’ll be inspired.