Dear Debt Letter from Morgaine

by Melanie January 10, 2014

Hello! How is the first week of the New Year treating you? Are you staying on track? Need some inspiration? Enjoy this debt fighting antidote to rid you of your worries. This letter is from Morgaine, the author of the blog http://morgaineandmoney.com. She has been blogging about debt and taking control over her finances since 2010. You can follow her on twitter @morgainemoney

Dear Debt,

We first met when I was young and green. I was introduced to you through school.

I thought I could use you and then drop you. I thought I was in control. Oh how I was wrong.

I tried hard over the years to get over you and in June of last year I thought we were done for good. Debt, why can’t I quit you?

You must have known that I was dumping you so you made yourself even more tantalizing to me. You offered me a low interest rate so I could buy even more stuff for our new house. You offered me Airmiles to book our trip for free next year. You offered me to have what I wanted now and pay for it later.

I’ve been working hard to build up my willpower and I think I am finally ready to give you up.

Well, Debt, it’s been fun but I need to quit you for good. And I never want to see you again.

Goodbye for good,

Morgaine

Author
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Melanie

Melanie Lockert is the founder of the blog and author of the book, Dear Debt. Through her blog, she chronicled her journey out of $81,000 in student loan debt. She is also the co-founder of the Lola Retreat, which helps bold women face their fears, own their dreams and figure out a plan to be in control of their finances. She is passionate about empowering women, helping others get out of debt, and focuses on the intersection of debt and mental health. Every September she organizes a Suicide Prevention Awareness Blog Tour, to help share resources for those struggling with debt and suicide. In addition to her love of personal finance, art and music, she is also a karaoke master and a cat mom to Miles and Thelonious.

7 comments

Morgaine January 10, 2014 - 1:29 pm

Thank you for this opportunity Melanie! 🙂

Alicia @ Financial Diffraction January 10, 2014 - 2:17 pm

Love the Brokeback reference 🙂 It’s making me a little giddy at work…

Morgaine January 18, 2014 - 5:19 pm

Hi Alicia,

I didn’t even realize that I did until you mentioned it! I’ve seen the movie but wasn’t thinking of it when I wrote the post.

But debt certainly can be a very intense relationship 😉

Thanks for your comment!

Tonya@Budget and the Beach January 10, 2014 - 3:17 pm

I think it’s easy to say once you’re out of debt you will never get back in debt, but that’s just not true. It can be easy to slip up. I hope you’re back on track and getting rid of it for good!

Morgaine January 18, 2014 - 5:22 pm

Hi Tonia,

Yes, definitely easier said than done! My main problem was that I had used up the bulk of my savings to buy a house and then the rest to pay off the remaining debt, so when it came to buying new things for the house, it went on debt. We will be finished paying off the joint LOC by the end of this month and then I have $1300 on a personal LOC to pay off which I hope to by the end of next month. Then it’ll be save, save, save so this won’t (*fingers crossed*) happen again!

Thanks for your comment! 🙂

anna January 10, 2014 - 8:30 pm

Credit cards for sure lure you with rewards… if it can be managed effectively then great, but if not, then it’s best to stay away (no matter how tantalizing the rewards)!

Morgaine January 18, 2014 - 5:24 pm

Hi Anna,

Yes, we’re planning on taking a big trip in 2015 and the more miles to help pay for it the better but to pay interest on those purchases is just dumb! So I’ve resolved only to use the credit card for things I have money in the bank to pay for. Rewards plus no interest = win/win! 🙂

Thanks for your comment! 🙂

Dear Debt Letter from Morgaine

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