Am I a Hypocrite? We’re Going Back Into Debt

whole life insurance sucks - sun setting

I’m dead serious. This isn’t a guest post where someone comes along and rants about good debt vs. bad debt. This is me, Derek Sall, and all the reasons why I’m about to go back into debt after 3.5 years of complete debt freedom.

Am I a Hypocrite? Why We’re Going Back Into Debt

“Whoa, Derek. You just blew my mind a little. You, Mr. No Debt, are talking to the banks about taking out a loan? What happened?”

I know, I know. Never in a million years did I think I’d write a post that was titled, “We’re Going Back Into Debt”… I vowed to myself that I would never take on debt again. But you know what? This site is called Life And My Finances for a reason. Not every decision can be made based on financial common sense. Surprisingly enough for some of us math nerds, life is also a major factor…

The Situation

No, we’re not diving into debt because we want a fancy sports car or take an elaborate vacation (you should know me better than that!). We’re not even getting into debt because of . . . → Read More: Am I a Hypocrite? We’re Going Back Into Debt

Did We Really Just Go Back Into Debt?

signs of a spending problem


If you have followed my story at all, you know that my wife and I started our lives together with $18,000 in debt and struggled to make ends meet. After a brief financial scare, we realized that debt was not our friend and we did everything possible to get rid of it. 14 months later, our hard work paid off. We were completely debt free – vowing never to go into debt again…

And then, it happened. I didn’t even see it coming, but all of the sudden we had a balance on our credit card, and we weren’t able to pay it off. We were $750 in debt and it freaked me out.

How Did We Slide Back Into Debt?

A few months ago, my wife was left without a job. Since we were renovating our house, we did not have a lot of money in reserves, but we still weren’t worried. After all, our budget allowed us to live comfortably on my income alone.

We still continued to tackle our house project (which costs money of course) and we also decided to buy some living room furniture. . . . → Read More: Did We Really Just Go Back Into Debt?