Blog Your Way Out of Debt and Toward Financial Success
No, this isn’t a post about how to make thousands from advertisements or pay-per-posts on your blog. In fact, I haven’t made a single dollar directly from my blog. However, my blog has been the essential factor in my debt-repayment success. This Friday, with my paycheck, I’ll be able to pay off the last $961 of my $8,771 in credit-card debt. Along with that, I also completely paid for our wedding. All told, I came up with a total of $13,306 dollars in seven months and will pay off my credit cards six months ahead of schedule. How?
Since I got my first credit card at the age of twenty-one, I have always carried a balance. For most of my twenties, I was cavalier in the use of credit, seeing it as a way to enjoy fun clothes, dinners out, theater tickets, and travel. I would charge cards up, send in big payments, and charge a little more. In spite of all my plans to pay off the cards, I always ended up with a balance that slowly got higher and higher. It is only with the advent of my blog that I’ve been able to conquer that debt and significantly change my habits. Why was the blog the key to my success?
Mind Over Money
My use of credit was a bad habit in my life. It wasn’t essential to survival, and I didn’t go into debt from a job loss, health scare, or other life emergency. All in all, I’ve been very lucky. For me, debt was like junk food. Instead of pounds, I was packing on extra dollars to make myself feel better. To really change, I had to find a way to change my mental attitude toward money and alter mindless habits, like my pick-me-up trips to Target.
Writing Forces You to Analyze
By day, I teach freshman composition and literature at a small university. I constantly tell my students that they have to take all these writing courses, not to become better proofreaders, but to become better thinkers. The act of writing takes you deeper into a topic, forcing you to organize your thoughts, dwell on the complexities, and come to a conclusion. Of course, I didn’t always practice what I preached. What has surprised me most about the blog is how writing has forced me to organize my thoughts about my money habits, dwell on how I got here, and come to conclusions about how to change.
Blogging Forces You to Write Regularly
Once your start getting an audience for your blog, it becomes a lot more fun! You look forward to posting and start looking for content. For me, I needed to figure out ways to pay off my credit cards so that I’d have something to post. I called my credit card companies to ask for a lower interest rate , even though I was terrified, because I knew it would be a great post. That call saved me over $1,000, and is something I never would have done without the blog. I looked for ways to sell things, earn extra money, and save money in my budget, all for posts. While I was having fun doing it and trying to inspire others, I was also consistently paying down my cards.
Blogging Keeps You Accountable
Especially in the beginning, keeping a blog really forced me to change my habits. I had made the commitment to reveal all that I spent, so I felt cheating would let my readers down, even just the few friends who were my first readers. Early in the blog, there’s a whole series of posts about avoiding spending money in the airport, one of my serious money pits. While the posts seem sort of silly now, I also see that I was starting to realize the ways that I would overspend to compensate for anxiety. By blogging, I’ve also become part of a great support network where fellow bloggers inspire and encourage each other.
If you’re looking for a way to really get control of your finances, jump in with a blog! They’re easy to set up, and you can get started for free or for very little money. Don’t think you’ll make lots of easy cash quickly with a blog, but do realize that committing to one can help you reach your financial goals. If you don’t have the time and inclination, just commit to reading and commenting regularly. You’ll be surprised how much this network of PF bloggers can help you!
Photo by MCL Abigail.
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Author
By Contributor, on Nov 13, 2008 Amy is the blogger at My Daily Dollars. She writes about reducing her debt and her journey to a healthier relationship with money.Freebies
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I'm just an average mom, trying to live a frugal life and get out of debt. I write about things that have (and haven't) worked to improve my family's financial situation. What works for me may or may not work for you, and you should always consult a financial advisor before making important financial decisions.
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When I looked that the title, I thought it was about your blog earning money but when I read in your post, I found out that it changed your habits.
This has to be the best post post I’ve read lately. I liked it so well I decided to write a short post to tell about it on my blog. I have learned the same thing in my blogging! The daily writing is helping me think better and save more money!
Like Pokeberry Mary, I have learned the same thing in my blogging. It really has been a wonderful tool for inspiration and motivation. Thanks for the great post!
I would have added, “worth of freedom” to the end of this post’s title. Ir is spot-on. Another great post, and another good blog for my daily reading.
Ditto to Dawn and Pokeberry Mary. My blog is only a few weeks old and I am really learning to keep myself accountable. Thanks for the great post!
I just like reading them all :)
And checking in keeps it in my mind that where I am is where I want to stay – debt free.
And hopefully I can sometimes add some encouragement.
I guess in a way it keeps me accountable also – because I couldn’t respond if I didn’t feel I had the right to – meaning if I don’t stay debt free, then I would have no right to say that I was. So, I guess it helps me also! Thanks gals/guys!
I enjoyed Amy’s post! Writing certainly does help me stay more accountable to myself, and to my readers. When I’m facing a particularly tempting spending decision I stop and think, “What would Frugal Dad say?”
Amy-congrats on paying off the debt!
I loved this post. It really hits close to home, writing does make think
thanks
congrats on your acomplishments, thanks for writing :)
The thing I love about blogging is that it forces you to “practise what you preach.” Think about it, how can someone who writes hours of content on saving money spend it foolishly? Blogging especially makes you feel accountable to all of your readers..
Very nice article. A reminder that there is now magic formula for debt reduction, just effort and mind over matter.
In addition to the benefit that you’ve received from blogging – you and others who are blogging on the same topic are helping people like me who want to do the same thing. Writing helps you to analyze and focus. Reading all of the analysis done by the bloggers helps me to realize that I’m not alone and that others have great ideas to help me. This year I sold my house, paid off $40K in credit card debt and now have only a car payment and small student loan payment.
Reading the frugality blogs has been a huge source of support as I continue to work toward being debt free.
Blogging has earned me about $800 in two weeks! It’s all accountability. We decided to stop spending money for 2 weeks, and although the theme of my blog is more about Africa than frugal living, I decided to blog about it. In the first week of not spending any money, we saved close to $600. We’re on Day 12 today and I’m sure we have saved at least $200 this week. Come read about it: http://www.planetperspectives.blogspot.com
Enjoy! -Katy
Absolutely right on! I just started blogging 8 days ago and am finding the same thing. More than anything else, it’s making me think about money and my spending habits EVERY DAY. I already expect I’ve saved $50-100 on money not spent, being more frugal on groceries, cooking at home, and buying at thrift stores.
Great article!
Excellent post and so true :)
I totally agree that blogging keeps you accountable. I paid off my credit card debt and since then, I always pay the balance in full each month. If I didn’t blog about it, I probably would be tempted to carry a balance sometimes.
Great post!
Since I started my blog, it has totally changed my behaviour.
There’s nothing like putting your own mistakes in black and white AND getting feedback from other people to keep you humble.