You Too Can Be Debt Free

You too can be debt free like the Muldoon family in Washington state. They recently payed off over 46K in credit card debt. After mailing off the last check they held a party at a local community center with a cake that had the debt amount on it. Here’s an excerpt from the article on CNN:

Muldoon said the soaring costs of their nine credit cards left them with two options: Either file for bankruptcy or make a drastic lifestyle change. They opted for the latter, she told KUSA.

“We changed everything … to bare-bones minimum,” Muldoon told CNN. “Basically, if it wasn’t essential to support life, we didn’t do it.”

The Muldoons are part of a national trend in easing off credit card use.

Muldoon said she found a way to make money by doing extra jobs, including teaching fitness classes at night and cleaning office buildings on the weekends.

“Dan says I’m obsessed. I prefer the term ‘focus-driven,’ ” Muldoon told KUSA. “There were times last winter when dinner was white rice and gravy. That was what there was. We weren’t starving to death, but I can’t tell you the last time I had a steak.”

BMWK in these tight times have you cut back and how?


About the author

Lamar and Ronnie Tyler are the creators of the award-winning blog BlackandMarriedWithKids.com . They also are behind the Amazon.com bestselling DVDs Happily Ever After: A Positive Image of Black Marriage, You Saved Me and Men Ain’t Boys that explores manhood in the African American community. The Tylers are also the proud parents of four children.



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  • http://politicalmusic.wordpress.com Political Pete

    Good work. But don’t forget to save.

    Political Petes last blog post..Naturally 7: One of the Most Talented Groups Ever

  • http://www.mrkingjames.blogspot.com King James

    Yeah… Pete. Good stuff. Glad to see some folks setting goals and getting there.

    Too lazy to click the CNN article.. but hope they shared how they got there and what will be done now.
    Great story.

    King Jamess last blog post..Thank God that Easter is gone!

  • http://www.ICompleteMeBlog.com Felicia – I Complete Me

    I’m so happy for them. If only I can get my husband to live on the bare minimums.

    Felicia – I Complete Mes last blog post..Your Opinion Counts| Motherhood vs. Marriage

  • http://ambitionzazawriter.izfree.com/wordpress/ MDUBB

    I’m pretty insulated from the whole economy thing cause I’m a Government drone, who gets his checks twice a month like clockwork.

    MDUBBs last blog post..Lost Moments

  • http://www.mochadad.com Mocha Dad

    I wrote a similar post on my blog http://www.mochadad.com/2009/04/15/a-legacy-of-financial-security

    Mocha Dads last blog post..Not So Easy Rider

  • NaturalOasis

    @ Felicia- I agree with you, if only I could get my husband on board!

    We were just talking about cutting back last week and I had to remind him that he lives somewhat of an extravagant lifestyle. Prior to us getting married I was 25 years old living on my own. I had a cell phone but because I was rarly in my apartment I didn’t feel the need to have a home phone or cable.
    Now fast forward a couple of years and my husband feels it is a must to have the entire DirecTV sports package. I’ll step back and watch him enjoy his sports package since I have managed to find ways to cut cost. We recently noticed that neither one of us use the house phone so I terminated the service saving $45 per month. I also noticed that we had been paying an additional $39.99 per month on our cell phone for the ability to watch tv. That was yet another service we could do with out. We also made the decision to purchase a deep freezer so that we can start going to the market and purchasing our meat in bulk and then marinating and freezing them in family size servings.
    I feel that small steps such as these have been beneficial in helping to save money as long as we continue to be mindful of our day to day actions.

  • http://www.debtconsolidationsolutions.net/ dave

    Wow, 46k. That’s impressive.
    .-= dave´s last blog ..Report: Consumers To Blame For Financial Crisis =-.