She stands slowly, hearing the scrape of the chair sliding back on the tile floor. As she raises her head and looks around the room, she isn’t really comforted by the somber, yet encouraging faces, waiting for her to speak. After taking a deep breath, she says: “My name is Mrs. Modern Tightwad, and I have debt.”

Have you noticed that even in this economic turbulence, the country had debt and poor savings, people have debt and poor saving, but hardly anyone steps up and says, “I’m one of those people.” I don’t want to be like that so I want to say: I’m one of those people. I have debt.

How do you ring up $50,000 in debt? First, I was a chronic spender, who decided to try and find my identity in a closet of different styles. I tried to buy a personal identity that I lacked. Second, I tried to take care of friends and loved ones to my own detriment (they were not aware, I just couldn’t say “no”). Lastly, I started paying for an education that I didn’t know if I wanted, because I didn’t even know what I wanted to do.

Why am I not discouraged? Because I remember thinking that we’d never be below $50,000. I remember when we didn’t have even one month’s emergency expenses saved (we now have two). I remember when we hadn’t planned for our annual expenses, and kept being “blindsided” by expenses we should have known were coming, and ended up putting everything on credit card. They are all budgeted for, with money set aside.

I don’t feel bad about my debt, merely because I’m not in the habit of abusing myself, and I’ve already felt guilty enough. I’ve found far more benefit in being productive to change the situation then mourning my bad choices. And I realize I’ve made bad choices. I certainly don’t wish I had the debt, and I want it gone!

I would still be a modern tightwad if I didn’t have the need, but I do have the need. Many of the tricks I try are designed to save money and reduce our cost of living. If we keep our cost of living low, once our debt is paid off, we will be able to save more, and possibly retire sooner.

I currently estimate the conditioner fabric softener will save us at least 10 cents a load, so for each load of wash we do, I’m going to put a dime in a jar, and use it to pay down debt. I will do the same thing for each new money saving trick and post it for you.

I will also be posting a “woot,” “woo-hoo,” “yippee,” or “bummer” each month. If I pay down $500, I will “woot,” $1000, I will “woo-hoo,” all of my debt, I will “yippee” and cry “bummer” if it goes up.

Let me know if you want to toot your own horn too. E-mail me at [email protected] by the 5th of the month, and I’ll post your success for us to cheer!

Andi B.

Andi B.