The Author: Male / 34 years-old / White / Gay / Adopted / Gemini / Lawyer / former New York BigLaw associate / raised Byzantine Catholic . . . and, of course, Laid-Off.
The Goal: To completely eliminate my debt by 8/9/10.
The Project: Each day I post my net income (Total Black) and total debt load (Total Red). Total Black includes checking and savings account balances, PayPal accounts, a mutual fund account, and possibly a few additional options I may stumble across on this journey. Total Red includes student loans (both privately financed and government secured), credit cards, personal loans, and back taxes. I do not calculate monthly expenses like rent and utilities in with total debt numbers. On the 10th of each month, I will break out the amounts of total black and red by individual accounts to chart my progress in both saving and paying down my debt.
I intend to accomplish my goal without debt cancellation or loan forgiveness of any kind. I don’t plan to meet with debt management consultants or debt consolidation programs. I’ll meet this goal through my own efforts . . . and maybe a few generous strangers along the way. I will be as honest and upfront in my entries as possible in writing about myself, my debt, my feelings and finances, my spending, and, of course, my progress and set-backs in meeting this goal. I will not color my truth or shade my stories. If something is embarrassing or unflattering but relevant, I’ll still share it.
I believe this goal is achievable despite the size of my debt. You can read more in my initial blog entry: In Medias Res.
If you have questions, please email me: Laidoff.Lawyer@gmail.com