Friday, October 19, 2007

Here are some things I could do

Ana at DebtFREE Revolution asked what people would do if they were debt free. Here are a few things that come to mind, but it’s by no means the complete list.

My kids’ college education would be fully funded (and they WILL be fully funded by the time they go). They each have a 529 account, but there’s only enough money in there to buy them books for their first semester. We need to start throwing money into that every month.

I’ve heard the argument that “you shouldn’t save up any money because if you have a lot then you won’t qualify for student loans.” That’s my point…I don’t want to use student loans. Pool Boy and I were both fortunate enough to have our education funded by our parents, and we feel strongly that we provide the same opportunity for our kids. I don’t want my boys spending half of their life trying to dig themselves out of student loan debt.

If I had no payments, I could be generous in my donations to the organizations I choose to support. We currently donate to kids organizations whenever we can, but there’s always a need when it comes to kids. It’s more fun to be on the giving side instead of the receiving side.

Role Model
If I were debt free, I could be a role model to my boys and show them how much fun life is without debt. I would also like to be a role model to friends and family, to prove that it can be done and it is SO worth it. I’d love to be a
FPU instructor some day.

Real Estate
I love real estate and the thought of owning real estate. But that goal is out of our reach until we clean up the mess we’ve made with our debt. I really want to own real estate in a fun place, like Colorado or on the coast somewhere. Not that Iowa isn’t fun, but…you know.

I tag all of you, especially Iowa Mom since I know she’s tasted the Kool-Aid.