Man Vs. Debt: How Far Would You Go to Get Out of Debt?

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?

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2 Responses to “Man Vs. Debt: How Far Would You Go to Get Out of Debt?”

  1. Ashley Cox says:

    I know it's just not practical for most to live like that, but I really like that train of thought. I am all about simplicity. It's so much more important to me to be able to travel and experience the world with my kids than to have a big house full of stuff (that I would end up spending all of my time cleaning up!). I don't go to the extreme that he does but I try to keep things simple. Sometimes I start to feel a little guilty that my boys don't have all of the latest 'stuff' but it usually doesn't last too long. :) And they have really never complained about it.

  2. Granny says:

    I'm not quite liking this kind of thinking altogether. There are reasons you have "stuff". Sometimes gifts are given to you from Granny and other family members, etc. that they want you to have. If you start looking at all of your blessings as just stuff and crap, you are almost idolizing the opposite of possessions. I'm not saying we don't have a lot of stuff, but when I look at mine with the mindset of getting rid of it just because I have bunches, I look at each individual piece and remember where it came from, the person who gave it to me, the emotional attachment I have to it. If I can't remember all that, then sure, ditch it. But having things can also be blessings and getting rid of them all just to get money so we can buy different stuff – whether it is travel or whatever, makes no sense to me. Getting out of debt is certainly the goal and you do whatever you have to do to get the peace you need financially. But don't through away your blessings to do it – only what you don't really have attachment to or the love that was shown by someone to you in giving you gifts. I think the best way is to just not buy anymore – but be careful with what your throw away or sell just to get a little money.

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