You read that correctly.

$30,000 + in debt – Twice!

To me that is a ton of debt and to others millionaires and billionaires it a relatively insignificant number.

I’ll assume that you as I do, see this amount as massive and potentially financially devastating.

As you may have learned along the way, perhaps from Tony Robbins:

Life will continue to give us the same challenges until we learn from them.

Obviously I didn’t learn the 1st time and found myself behind a massive wall of debt again.

Who are you really working for?

Not that this makes the debt any less devastating this is where all the money went:

$30,000 + in debt – The First Time

• joining a multi-level marketing company and charging $3,500 ( To Get Started)
• various audio programs, books, CD’s and attending personal growth seminars.
• airfare to visit family for the holidays.
• auto repairs.

$30,000 + in debt – The Second Time

• making mortgage payments while working on a loan modification.
• auto repairs.
• traveling to internet marketing events, airfare + hotel.
• working with internet marketing consultants.
• purchasing software.
• internet marketing courses

The reason I share how I racked up that debt is to differentiate it from most peoples debt that may look like the following:

• concerts
• vacations
• home electronics
• fine dining
• entertainment

My justification may be “it was all education … I was trying to get ahead…. I didn’t blow it on frivolous stuff like everyone else!”

Either way it’s Financial Irresponsible.

Who are you really working for?

The biggest problems here that we often overlook are:

Yes, we didn’t charge that much however the interest really racked up.
The debt is going to cripple us financially and mentally for decades to come if not solved.
We need to ask – How are we allowing ourselves to get in so much debt?

In my case, it was wishful thinking that what I would learn would yield so much income the debt would be paid off fast! – Basically wishful thinking. Delusions of grandeur.

The other part of it for me was not addressing the low income portion.

Rather than taking action on earning more income, paying off my debt faster – I spend more time on learning how to shift around credit card balance and living paycheck to paycheck.

Why am I sharing this with you?

I believe we need to share our mistakes to help others learn from them. My goal is also that you do not feel alone or “stupid’ or you don’t have what it takes to one day prosper. Sometimes we just need to hear that other people out there have made the same mistakes.

Wish you the best!

Robert

PS. Read This Post About Credit Card Debt – Who are you really working for?