While I was making a plan to find ways to get rid of my debt, one of the first ways came into mind was blogging. I thought to myself, why don’t I start a blog where I can discuss my debt problems, keep track of my progress and just blog about debt and money issues. It’s not bad enough that I am already kicking myself for getting this deep into debt in the first place, why not make a public spectacle of myself too. I figured there must be enough people out there who can relate or would be interested to see how I’m tackling my debt.

I also thought if I can somehow make the blog popular enough, I could generate money out of it…which I could use towards reducing my debt. Of course it’s not easy starting up a blog and creating an instant fan base. You really need some stand-out gimmick for that, which I don’t have. I though needed something that not only is going to challenge and motivate me to succeed, but I could offer something of value that could attract visitors who would return.

So I added a debt free challenge to my blog, where I set a target date to eliminate my debt by with a live countdown. This should be interesting enough for people to see me succeed or fail, or just provide some amusement either way…while the clock keeps ticking. 

Now I just needed to add things that I could generate money from. So I asked for donations…which probably would  offend a few (or many)…or might draw enough attention to actually work. But of course I was not expecting that I could just hold a cup in hand and wait for someone else to get me out of my financial mess..no not at all. I just wanted to keep my options open just in case someone thought “I wish this blogger would accept donations”.

 I also wanted to make the blog versatile just in case some were tired of the discussion about debt and just wanted to spend money to buy an ipod or something. So I added a store, auctions and ebooks section that might interest someone to purchase an item that they were interested in and at the same time could help me get rid of my debt.

Then if my blog really grew in popularity, maybe those big advertisers would come along and offer me a nice sum to advertise on my site…putting a big dent in my debt.

Or maybe…someone would be so impressed with my blog that they would offer a pretty penny to purchase it and completely wipe out my debt. 

Ah yes…blogging away my debt is how I’m going to achieve my goal to be debt-free.

When you are deep in debt, not only do you need to find ways to get out of debt but you need to set a time period to accomplish it. However you got there is no longer the issue as it’s part of life’s lessons to learn from and now action needs to be taken in order to eliminate the debt.

My goal is to be rid of $25,000 in debt in four months (16 weeks). That may seem like a short period of time as it took longer to accumulate it, but I would like to beat Karyn who eliminated her $20,000 debt in 20 weeks through her save karyn website some years back. That’s $5,000 more and in one month (4 weeks) less than her. I figure I am putting the pressure on myself but hey I am sick of being in debt and want to show people that anything is possible with pure determination.

I created my blog simply for this purpose, as a vehicle to get out of debt. I am asking for people to donate cash or buy products off my site to help me reach my goal. Just think if 25,000 people each donated $1 or 12,500 each donated $2, that is all it would take for this challenge to be a success.

So what is the target date to be debt free in this challenge?  I started this blog October 7, 2009 and counting 16 weeks ahead, that would make the target date January 27, 2010. Mark it on your calendar and come back often to see my progress.

What will you receive in return? Not too much…other than some entertainment, useful tips and the privilege to help someone get out of a bad financial situation.  Not only that but, in the laws of karma, by helping that person can bring good in your life and someday when you need help you will be helped too. Just think how the world could change if people came together like this.

Please join my debt-free challenge, get the word out and make a difference!