I Hate Sean Cooper

For those who are not aware Sean Cooper came to the media attention a while ago when he talked about how he worked very hard to pay off his house in a short period of time (three years). Sean has also written a very interesting book (the amazon link is on this page, book is out soon).

Sean Cooper

Amazon Link for Sean’s Book


Sean’s story is not that unique in my circle of friends, I know a few folks who worked very hard to get out of debt quickly. With my friends stories, they had two solid incomes, and made it their goal to pay off their house in less than 5 years (and not in the Toronto Real Estate market). Sean’s story is a little extreme (in that he worked more than 2 jobs at times and did other extreme savings tricks) but still to be applauded.

How Can You Hate Sean Cooper ?

Do I hate Sean Cooper? Evidently the Internet does (if you look at the stories about him, the comment section is peppered with angry folks who disagree with how Sean did it, and how it is unrealistic to assume this is possible). Let me be clear, Sean’s method is possible, if you want it.

No, I do not hate Sean Cooper, I have met him at a conference, he seems like a very nice young man (remember I am an old fart). He cannot loathed for his lifestyle, he should be applauded for setting a tough goal, and then making it happen. Could I have done it? I doubt it, but I do compliment him for accomplishing his goal. Am I jealous of him? Absolutely!

Can you Do What Sean Did?

Can you do this? Positively, it is not easy, but possible (if you have a job, and a lot of self-control (if you have two incomes, why aren’t you doing this?)). Should you do this? That is up to you, but I would suggest reading Sean’s book and see that parts of his concepts you can use in your life to get out of debt quickly.

Examples of Trolls of Mr. Cooper

The CBC article had some classic troll comments about Sean’s story. These are just so amazingly venomous (and I can’t figure out why they are so pissed off at him):

  • “…Another media PR job to whitewash the economy misery of the youth. 100 hours of work a week = over 14 hours of work a day, every day. …”
  • “…On the upside, he did die a rich man. However, since he didn’t have a social life and had no children, the state took it all. …”
  • “…Why isn’t anyone asking where a 25 year old got a nearly 200,000 dollar down payment? I’d say he HARDLY was living like a pauper. …”

Reading the comments on the article is almost more entertaining (but again, why so negative?). I look forward to reading his book.

{ 0 comments }

Debt Consolidation and Tattoo Coverups

A friend of mine had a tattoo on her forearm that after a while she grew to dislike, so she decided to see a tattoo artist and have that artist (evidently a renowned artist) see what could be done with the tattoo. It was decided to cover up the first tattoo with another tattoo that might be more aesthetically appealing. What does this have to do with debt consolidation ?

debt consolidation

This tattoo says, taken advantage of (according to Hanzismatter), I guess they were

The artist did his magic, and now a simply line drawing of an amphibian, has morphed in an elaborate colorful collage with an interesting phrase. The replacement is about 300% larger than the original tattoo in terms of surface area. I hope my friend enjoys the “cover up” tattoo, but it got me thinking that this seems much like the constant refinancing, and blending of debt (into other debt vehicles) that many folks seem to be doing these days. Still no explanation on this debt consolidation angle?

Covering up debt is not making debt go away, and while consolidation loans can make it convenient to have all (or most) of your debt in one (hopefully lower interest) debt vehicle, if you continue to live the lifestyle that got you into debt in the first place, you really are only making the debt bigger (much like the tattoo).

If you are using a Debt Consolidation loan to get control of your debts, make sure you have a solid plan in place to pay down the debt, and make sure that you are not growing the debt further. Debt Consolidation loans are simply a tool, they are not a cure, and as with all tools if you are not using them correctly, you can make one hell of a mess.

Mrs. C8j has pointed out that more than a few advertisements for Consolidation Loans imply that once you get the loan, you are “Out of Debt”, but your debt has not changed it is just all in one place. You are out of debt when it is paid off.

Another good point with the tattoo metaphor, at least my friend went to a professional to get the “touch up” tattoo (and didn’t rely on a friend of a friend who did these for fun). If you are thinking of a consolidation loan, see a professional credit councilor (or a similar financial service).

 

 

{ 2 comments }

Optimize Your Budget for Any Debt Level

You’re not going to believe the trick I use while budgeting to pay down my debt load.

Optimized Budget

Your Budget Will Be Optimized

This may solve your debt problems simply and if you want to know how it works, click below.

👀 Click here if you want to find out this amazing trick 👀

{ 1 comment }

Debts are Like Weeds

A short one for today

Dandelion

Bloody Weeds

Debts are so much like Weeds, removing them (one by one) seems like an insurmountable task, yet, if you go at it a little bit at a time, in a shorter period than you thought, they are all gone, but you have to stay diligent or they will continue to dominate everything.

There is your lawn and finance tip for the day, if you want a fitness tip read Debt is Like Fat .

 

{ 0 comments }

Questions with the answer, ” Get out of Debt “

Let’s make life simple for my return from vacation, and get back to basics. Let’s kind of head towards Jeopardy’s model, and here is the answer that you need to ask a question for: Get out of Debt

get out of debt

Working Through Debt Problems

Questions with this Answer?

How hard could that be, let’s see how many interesting questions that could have that simple response:

  1. My wife feels that while our relationship is good, she wants us to be much closer, what should I do?
    Get out of debt, that way you don’t argue about money any more. You can concentrate on the important things in life.
  2. I feel worried all the time, and I have a hard time sleeping these days, how could I fix that?
    Get out of debt, you will then have 1 less thing to worry about. This is the simplest thing in your life to start fixing, so get at it
  3. I never have any money in my wallet, and I am living from pay cheque to pay cheque, which has caused me to be impotent, what should I do?
    Get out of debt, if your money worries are giving you issues with your love life, you really should get the hell out of debt.
  4. I am staying at my in-laws and they are driving me insane because they keep asking me when we are going to move out and have our own place, is there anything I can do?
    Get out of debt, you are living with your in-laws, ’nuff said! Oh and definitely move out if your in-laws live in Debt, Ontario.

Just had to get that one off my chest. Were there any questions that I might have missed?

{ 1 comment }

%d bloggers like this: