While doing some “get out of debt” research the other day, I stumbled on this site. Started by a guy named Adam Baker, he and his family have publicized their credit card debt (and payments) as well as all of the possessions they own in an effort to motivate people to, according to his website, “Sell your crap. Pay off your debt. Do what you love.” They’ve been successful in paying off their credit card debt – and made a lot of money along the way.
Obviously, this caught my attention. His idea is amazing: sell everything you have that’s not helping you reach your goals. Get rid of it, and you will have more energy (and money) to put towards what you really want to do. That’s definitely the mindset I want to have right now.
Still, I wonder how much is “too much,” especially with little ones. Selling the Wii was radical enough for us, but what if I told them, for example they could only keep three toys each and we were selling the rest? What if Jeremy & I did the same thing? Would we be better for it, or would we all go crazy – and drive each other crazy as well?
So I want to hear your opinion: Is this the best way to get out of debt? Or is this going too far?