Comments on: I’m a Big, Fat Hypocrite: Our Updated War on Debt

By: Jonathan Drake

Jonathan Drake — Fri, 02 Apr 2010 05:19:52 +0000

and yes it ( mantravelsaroundtheworldwhilehepaystheminimumonhisstudentloans.com ) is available.

Great Site.

-Jonathan

By: Caroline

Caroline — Sun, 14 Feb 2010 12:58:21 +0000

I think it was good you went – better to actually do the thing you most wanted to do than keep delaying and copping out the other way – by not even going. That said, I’m leaving my b/f after 5 years to go do what I’ve always wanted to do – grad school abroad. I helped him cut his $55k debt down to $28k over the past 4 years, but screw it. I’m done waiting for him to catch up to my level of frugality and desire for minimalism. Yes, it’s Valentine’s Day. He’s a good person, we’re just not on the same page. I don’t think I could live with the regret of not doing what I really want to do.

By: Elysia

Elysia — Thu, 11 Feb 2010 15:29:57 +0000

Adam,
I just had to say how impressed I am at your sharing all of this with everyone. No one even reads my blog and although I put up the total number, I don’t list out the separate debts, because I am completely and totally embarrassed to have them. (We’re 39 if that helps for clarity.)
I think the thing I’m struggling with most right now is that I have a plan, I’m paying down debt (credit card #2 gets flushed this month) and if (as we hope) all goes according to plan, we could have everything paid off including our mortgage in about 8.5 years. It’s slow… it’s frustrating… but hell, we got ourselves into this and we’re getting ourselves out. But we also have two kids (4 and 6) and we need and want to spend time with them, and I feel like we need to still be saving some for retirement/college. I *know* the return on paying off the debt is higher (and guaranteed), but I still want to contribute to my 401k. And I feel like I should be saving for college. If I wait 5 more years (payoff last student loan date) to start saving for that, my kids will be 9 and 11, that doesn’t feel like enough time to save for college .
I just feel like so much of the advice out there says I can’t or shouldn’t save for college and retirement while I have debt, but if I have a plan, and I’m not compromising that plan, and everything will be paid of in 8.5 years (which is a long time, but not *sooo* long if you’re including a mortgage), is it really that irresponsible?

By: Jessica

Jessica — Tue, 02 Feb 2010 17:50:53 +0000

Yes, that is an INCREDIBLE amount of debt, and I don’t think you should be traveling. You should be putting away money for your daughter’s education–so that she doesn’t face the same problems. Sure, work hard for another 2 years–and THEN travel. Then all the money funneled into minimum payments can be going to a retirement fund and a college fund.

I am working through graduate school right now, and everyone thinks I’m insane. “Working full time? And going to school full time? Why don’t you just take out a LOAN?” Because when I’m done, I’ll be debt-free, with $10,000 in my pocket. Student loans are pure, pure evil perpetuating a never-ending cycle of poverty.

By: confused

confused — Sun, 13 Dec 2009 04:15:17 +0000

Baker,

I am constantly having fights with myself about what I am doing with my life. Traveling has become a passion of mine over the past few years in college. I now have a good paying full-time job fresh out of college. I am on track to pay off all of my student loans by July. I am in a job that I know I won’t want for the rest of my life, but earning money is addicting. I am on track to setting myself up for a nice financial future. Now the problem is that staying in a job like this obviously limits my travel. I would love to go to Asia or South America for longer term (2 or 3 months). But when I think of putting my career on hold, it really forces me to forget about traveling. But of course I want to see the world. This cost/benefit analysis drives me crazy. Continue building for a great financial future? Or see the world while I am young and without responsibilities? Obviously you cannot provide the answer for me, but what was the thought process you had when making your decision?

By: Agile Living Blog Carnival: November Roundup « Mine Your Resources

Agile Living Blog Carnival: November Roundup « Mine Your Resources — Tue, 03 Nov 2009 06:00:17 +0000

[...] Blog Carnival this month. Here are my favorite submissions for this month: Adam Baker’s post, I’m a Big, Fat Hypocrite: Our Updated War on Debt posted at Man Vs. Debt is a great (and honest!) example of the sorts of values conflicts and [...]

By: Simple Living News Update: Week of October 26th

Simple Living News Update: Week of October 26th — Mon, 02 Nov 2009 13:34:07 +0000

[...] I’m a Big, Fat Hypocrite: Our Updated War on Debt [...]

By: Married with Luggage » How to Create a Budget for Big Savings or Debt Reduction

Sun, 01 Nov 2009 01:30:01 +0000

[...] with fewer wrinkles and small human companion). You can read their personal finance blog to get the skinny on their continuing battle with debt vs. living the dream as well as enjoy occasional tidbits about their new [...]

By: Baker

Baker — Wed, 28 Oct 2009 06:54:18 +0000

The biggest issue is the transportation. It’s the peakest of peak seasons during the only time we can go. The cheap rental options are from $24-27 per day, not including insurance or gas. The cheapest campervan options are $80-99 per day, and some of these we can use because we need three seatbelts and room for a car seat.

As far as hostels go, there ARE some decent options. Keep in mind that we can’t (or rather aren’t willing) to stay at many of the cheapest of cheaps with our daughter. We also can’t do bunk options and have to get solo rooms (even though we’ve still found very cheap great deals).

If it were Courtney and me only, I shudder at how cheaply we could tour even in peak season. We are planning on doing Milford, Fox Glacier, and Nevis Bungee. Those are the biggest ticket items. A lot of rental places offer 2 for 1 Milfords, although if we both do Nevis that’s 450-500 right there.

The bungee is something that is hit or miss for me. I’m sure it’ll be an experience we will remember for a lifetime being on of the biggest jumps in the world. Of course, there’s always more we can do and always something we are going to miss.

Working with a couple companies to try to find ways to cut corners or cut down from 3 weeks to 2 weeks and remove some of the cities and driving, etc… We’ll see!

By: quinsy

quinsy — Wed, 28 Oct 2009 06:32:30 +0000

I have to admit I would also like to know why your South Island trip is so expensive, considering it is a car tour… I took a monthlong car tour of South Island 2 years ago and we really didn’t spend much at all since the BBH hostels are generally so nice and cheap for members (for anyone who has not been there, the BBH hostels in NZ tend to be like quaint small hotels rather than rooms full of bunk beds). I guess there is the car part, that could be a big deal since you said you don’t have a car now and renting or purchasing are both expensive. Otherwise perhaps just a lot of skydiving in Queenstown? The only thing I missed out on with my tour was doing the Milford track with the pricey trek option, we are saving that for someday… but I assume you’re not doing a trek with a toddler.