In March 2015, I was desperate and looking for a debt pay off plan to help me get out of the mess we were in. It all started when we bought a huge house and then needed to renovate it when we got pregnant with our second child.
We ended up taking our a 401k loan for the renovation. Then a couple months later, my husband was laid off and the loan came due.
We didn’t have the cash and couldn’t get another loan without a job. So, it counted as a withdrawal with lots of penalties at tax time.
When I did our taxes in 2015, we owed a ton of money to the IRS. I put that money on a zero percent credit card and didn’t know how we would pay it off before interest accrued.
I then started searching for a plan and found Dave Ramsey. I got to work making a zero-based budget and cutting expenses everywhere. Here are the tips we used to pay it off fast!
How We Paid Off $45,000 in 17 Months
Paying off a large amount of debt was not easy and it took sacrifices. There were negative comments along the way and people that think you will always be in debt. But you don’t have to always be in debt.
It is possible to pay off your debt and have financial freedom. It’s all about priorities. If it is a priority to you, you can do it.
We followed the Dave Ramsey method of paying off debt after I read The Total Money Makeover book. I heard about Dave Ramsey through Money Saving Mom . I read about her journey and how they use cash for everything and wanted to learn more about it. So, I ordered the book and quickly became obsessed. Learn how we paid off debt so that we could save money and do what we want!
What Is The Dave Ramsey Plan?
So what is the Dave Ramsey plan? Basically, his plan is broken down into 7 steps. Before you start step 1, you have a WRITTEN zero based budget, and get caught up on the “4 walls” (rent/mortgage, power, water, transportation etc).
This is also the time to agree to not take on any new debt and cut up your credit cards. You will want to cut out retirement savings at this point and anything else you can think of. You will want to keep certain insurance plans.
Step 1: Save $1,000 emergency fund
The idea behind this is to not to go further into debt if you have a small emergency. If you know something that is going to cost more than that is coming up, you save more.
Step 2: Pay off Consumer debts
This is the step where you pay everything off but the mortgage. Everything extra in your budget goes toward your lowest debt first. Once one is paid off you move to the next lowest while making minimum payments on everything else.
Tips for paying off debt for millennials
Step 3: Save Fully Funded Emergency Fund
This is when you save 3-6 months of expenses as your emergency fund so that you don’t have to go back into debt if something happens.
Be sure to store it in a high interest account that is out of sight and out of mind. You don’t want it to slowly disappear.
Step 4: Save 15% in retirement accounts
Now you can start retirement savings again. You want 15% of your income to go into Roth IRA’s and 401(k)s. The 15% is on your gross income.
Step 5: Save for Kids College
There isn’t a set percentage and can be whatever you can afford. Just remember that you will retire one day and your kids may not go to college. Make sure to save for retirement before saving for kids college.
Step 6: Pay off mortgage early
Dave recommends only taking out a 15 yr loan and having a big down payment. If you only have a 15 yr loan this step should cut it nearly in half.
Step 7: Give generously
Dave is a big advocate of giving during all the steps but once you get to step 7, you don’t have any debt so you can really give like no one else.
How we paid off debt-
Ok, I know that is a quick and dirty overview of his program but I could write all day about it:). So, back to our story, I learned about the baby steps and got right to work.
I refined the budget to have a zero-based budget. and got to work on my spreadsheets. I used to like to write everything down on paper but with a zero-based budget, it was too in-depth to do that. Plus with my spreadsheets, I set up formulas and budgets for the whole year. It’s much easier to make changes that way also.
There were things that we did not do initially or at all. It took us 7 months to shut off our retirement contributions. I had a very hard time with it but once I figured out how much more debt we could have paid off in that time if I had done it already, I did it. I also adjusted our tax withholdings to get less of a refund and keep more each paycheck.
It took us a while to start using cash. Cash was an adjustment for sure. I was afraid I would lose it, which I did once.
I was afraid we would spend it on things we shouldn’t, which we did.
But once we got in the hang of it, I preferred cash over debt. It was easier to stay on budget and not spend what was left on things that we didn’t need.
We also never cut up our credit cards. We did cancel several that we never used. I kept one to order things online. I refuse to use my debit card online but I made sure I had the money and would transfer it right away.
The largest part of our debt was my student loans. That accounted for $25,000 of the $45,000. The rest was a Yukon Denali that we just had to have and taxes caused by a 401(k) loan that came due when my husband lost his job. I have another post about why 401(k) loans are bad which I learned from personal experience.
How We Paid Off $25,000 in Student Loans in 10 Months!
How One Couple Paid Off $130,000 in less than 2 YEARS!
Zero Based Budget
It is truly amazing how once you start doing a zero-based budget you find extra money. It also caused me to scrutinize our expenses more. I cut lots of extras and scaled down our TV service and phone service. Once you pay attention to where your money is going, it is harder to let it go.
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The same goes for our food budget, I cut it in half once I realized we were spending so much. My husband likes steaks and hamburgers but we had to sacrifice all those things during this process. We ate a lot of chicken or pork tacos and breakfast food for dinner. We also quit eating out several times a day.
My husband and I would go out for lunch almost everyday plus sometimes breakfast and dinner. We cut out almost all of that. I started to meal plan which made it easier not to eat out. When you have something to make, it makes it harder to justify running to fast food.
How To Create A Weekly Meal Plan
We also SOLD EVERYTHING! I sold a ton of my kids junk and my husband even sold some things. Anyone who knows my husband, knows what a feat it was getting him to sell anything but once he saw the progress we were making, it was easier for him.
My husband also worked like crazy to have extra money to put towards our debt.
We paid everything we could on the credit card that we put our owed taxes on. It amazed me one night that when I put it on a 0% interest card to save interest and penalties from the IRS, I didn’t actually have a plan to pay it off. That was part of what got me looking for debt pay off plans.
I have never been one to “like” debt and we typically paid everything off early but I didn’t not like it enough to not go in to debt until I found Dave Ramsey.
We started using the debt snowball method with a zero-based budget and knock out the debt fast!
The debt snowball method consists of paying off debts from smallest balance to the largest balance and not focusing on interest rates. You focus on one debt at a time and pay the minimums on everything else.
I was constantly using a debt snowball calculator to determine how much faster we would be debt free after making extra payments.
How One Couple Paid Off $130,000 in less than 2 YEARS!
The next debt was my car. You know, the one we had to have since I was going to have our first baby and wanted her to be safe. It was “only” $300 more a month than my car payment at the time (note the sarcasm). So, I had already been paying a little extra every month on it before starting this plan.
We already had the car 4 years out of a 5 year 0% interest loan when we paid it off. If it had been any newer, I would have had to sell it. We paid it off a year early thanks to my husband getting a bonus at work and his overtime.
Next came my dreaded student loans. This is where we really kicked it in to high gear.
I shut off our retirement contributions and made visuals to keep me motivated. We started on this one on January 1st and I wanted to have it gone by the end of the year. We managed to pay them off by October!
We kept doing a lot of the same things we were doing during the other loans but this one took longer and we started to get burned out halfway through.
Once we could see the light at the end of the tunnel though, it helped motivate us to get there even faster.
We went without a lot things toward the end and kept telling ourselves we would get it when we were debt free. My husband even asked me one time if we could buy shaving cream again when we were debt free.
We were able to pay off my student loans in 10 months!
We started dreaming about all the stuff we would buy once we paid off debt. It’s funny because it was things like our favorite products. Once we were debt free, we splurged a little bit but had to get back to it to save up our emergency fund. We are currently halfway there for that.
We should be back to saving for retirement come May this year and we have a big trip to DISNEY planned for December. Our trip will be paid in full before we even get there, how cool is that?
In conclusion, being debt-free is possible and YOU CAN DO IT!
Don’t let anyone tell you or make you believe that it’s not possible. You can do anything you want as long as you want it bad enough. Each dollar you spend, you are saying it’s a priority. You just have to want your financial future bad enough to do what you need to do today.
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Congrats on paying off so much debt! I hope to do the same sometime soon. Debt just ways you down.
Great article! Reading your success story definitely motivates me to pay off the remainder of my debt =)
Very inspiring read and just shows you that it CAN be done! Well done! I keep saying I’m going to start using cash but I haven’t gotten around to it yet, definitely think that would make budgeting easier! 🙂
First – congratulations! Second – THANK YOU for this! My best friend and I are looking to get out of debt to buy a house next year. I’m working on a budget and ways to cut frivolous bills — you have given me great ideas and examples here. Ill pick up the book too!
This is great, I was credit challengedso I know how hard it is to get back on your feet, this is definitely something I can relate to
Nicole Anderson says
Congratulations. This was so good to read. You are living proof that this big mountains can be moved if you apply the necessary focus and discipline. It takes willpower not to blindly follow what everyone else is doing and simply live for today. You certainly rose above that, achieved something really good and now are sharing the story for the benefit of others. Thank you.
Lisa Chase says
This is amazing. I love all the tips. We could definitely do with selling some of our stuff. I love the idea of clearing out the house and making a little money.
Kasia Mikolajczak (@KasiaMikola) says
Cool story. It’s definitely doable to save money and get rid of debt. There are sacrifices that need to be taken and a lot of people aren’t willing to do them and that’s how they stay in debt. Also, cutting things out like eating out can help you save a lot as well. It’s hard to do for some but cooking at home and making awesome food can help with that. Thanks for sharing your story. It’s motivating.
Tiffany Bacon says
This is really awesome. I need to follow this plan, Lord knows I do. I was just thinking about my debt before I clicked the think to your post. I guess this is God’s way of telling me to get my money, and my life, together. Thanks for the inspiration. Congrats!
Wow, this is so cool! I really need to start following this plan. We aren’t in debt, but I would like to build our savings.
Shelby Hohsfield says
This is so my kind of post! I love that you did this! I have been trying to talk my husband into this for years, but wants no part of it- how did you hit your hubby up?
This is a great inspiration to people who feel their debt is weighing them down. I was told to have a much larger emergency fund though just in case. We also did not save for college tuition opting to fund our retirement accounts instead and both our kids went into the military earning full tuition for school. Other ways to save is to lower insurance premiums and we live based on one income, so that a second income is never factored in.
Laura-Simone (@Laurasimoneowen) says
This is such a good post, thank you for sharing! There are so many good ideas here I think I might have to try some of them 🙂
This seems a great method,congratulations for reaching this goal!
Congratulations! We have begun our minimalistic journey and have started selling off things and working towards paying off our debts! It feels amazing!!! 🙂
15 yr loans are such the way to go. You have to adjust your spending to accommodate it, but in the long run it is so worth it.
Bianca Osbourne says
Thank you for this post…I am working to get my money house in order!
Thivy Michelle says
Wow congratulations! That’s huge news! I hope I pay off my student debt soon ^_^
Richard_eCoursesXYZ (@Richard_eCourse) says
Way to go on cutting that debt. I know it’s a huge relief, I personally had nearly $50k in student loans…HAD. I started following Dave Ramsey about 6 years ago and the first thing I did was cut up the credit cards. I didn’t carry around cash, I used and use debit cards for everything. I may miss out on those frequent flier miles but I’m okay with that.
Terri Ramsey Beavers says
I imagine it’s a great relief to pay this off. I’ve been trying forever to pay off my college loans and will try your tips to hurry that up.
I am so happy for you! How freeing this must feel! I love Dave’s step 7 – giving generously! I feel that when you give more you get more back!
Way to go! Congrats on this great relief. Working on my student loans now and I must say I’m quite proud of the incredible dent I’ve made so far.
Author Brandi Kennedy says
This gives me hope that one day I’ll have my own finances in better order. I’m taking steps now to repair the damage of a bad relationship, but sometimes I just need to be reminded that what I want to achieve IS possible.
Lhourdes Mercadero says
Congratulations on that dear. You know sometimes it’s really hard to pay debts.
CtryMouseCitySpouse (@CntryMseCitySps) says
Congratulations on being debt free! I am attempting to work through Dave’s program, but unfortunately I married a “Spender” who thinks saving is some foreign word. I’m trying to get him to see why these steps are important. Thank you so much for this motivating post. *Hugs*
Truly inspiring. I can’t wait for the day we are debt free.
Daaang that’s impressive! Love the idea of an emergency fund.
Amanda | Maple Alps says
Congratulations! We are currently doing the dave ramsey money university thing, so it’s nice to see that it worked for you!
Tess Chupinsky says
My husband and I are HUGE Dave Ramsey follows! Currently on step 6. 15 yr morgage, big down payment and hopefully paying it off within a few years!
I loved the post. Being on a budget is much like being on a diet. So easy to fall off. So needed this post right now as I’m reworking the budget!
Jen Morrow says
Good for you! I followed Dave Ramsey’s plan as well. Debt Free is pretty darn great. It felt like such a sacrifice in the beginning, now I cannot imagine living with Debt every again!
Sue Tanya Mchorgh says
Loved reading this post!
Congratulations! It feels so good paying off so much debt! I have also recently paid a lot of debt but only semi follow Dave Ramsey’s plan. I don’t agree with everything he says, but his plan helps so many people! Thanks for sharing!
oh my goodness that is amazing! Great job!
Ana De-Jesus says
As someone who is in debt because of university this is really inspiring to hear about your journey. I like the idea of creating an emergency fund to be prepared for any financial storm x
Rebekah at The Tex-Mex Mom says
This is inspiring! Now I really want to watch Dave Ramsey’s course again to get motivated with my husband!
Laura @ Books, Interrupted says
If you can do $45K in 17 months, I think I can do $15K! Thank you for the motivation to get my butt in gear. I have a pile of stuff I want to sell that’s been sitting on my living floor for the last week that I just haven’t done anything with yet. Now off to do that…Thank you!
Love the idea of emergency fund.This so inspiring. Congratulations
Carla Crudup says
Great information on how to handle finances! I really like the emergency fund idea!
Dave Ramsey is amazing. I try to find his information everywhere. Your post is inspiring. I started laying off debts this year with tax money and some cut backs. It definitely feels like weight is being lifted.
WOW! I’ve heard a lot of good things about the Dave Ramsey plan. Great information…thank you!
Ophelia Keith says
Debt is killing us right now. I needed this post today.
These are great tips. It’s giving me hope that we can be debt free sooner rather than later. We needed the emergency fund last week when a pipe in the wall exploded – caused water damage and we ended up with a very expensive plumber bill. 🙁
Elizabeth O. says
That’s really amazing. I think it’s awesome that you finally paid off your debt and in that fast too! It definitely helps to have a budget and a financial plan to keep you on track.
Befitting Style says
I find that spreadsheets work best when budgeting! Thanks for sharing.
Dave’s plan is great! Getting out of debt is the best thing I ever could have done.
Congrats and wonderful tips! I just started the debt snowball method to pay off my current debts, and it has been great so far! The most progress I’ve made getting those numbers down!
Dyana @adebtfreejourney says
Amazing! I’ve been toying with the idea of cutting off my retirement savings until I can knock out a good portion of my debt. Your post just confirmed that that is the next move!
Peachy A. says
I love reading your post about paying off debt and now I’m thinking of following those 7 steps.
Discover Hut says
Such a helpful post! Everyone wants to lead a debt free life and this post is definitely going to help in many ways! Great job!
Amanda Love says
I’ve never heard of the Dave Ramsey plan but it’s really nice that you have a financial plan intact. It’s good to know what your goals are and how you’re going to achieve them. Good job in paying off that debt! Thanks for the tips too.
I loved reading all about how you did this! I have heard of the Dave Ramsey plan but did not really understand the process of it. Thanks for helping the rest of us to help ourselves. 🙂 – Amy
Congratulations on becoming debt free and being able to pay that large amount off! My dad started listening to Dave Ramsey so I’ve learned a couple of things through the years from his program. Although I don’t follow his plan entirely in terms of the bigger emergency fund, I still have some money put away for any emergencies. The good thing is, I learned to never be in debt besides the mortgage so that’s the only debt I have! Thank you for sharing your experience!
I’v heard of the Dave Ramsey plan but every time I see a blog post about it I click anyway, because I always find it so inspiring that there are people out there who really don’t have debt, haha! I’ll be drowning in student loans for a very long time, but this post reminded me that there’s a light at the end of the tunnel, so thanks 🙂
Lauren Becker says
Congrats! That’s awesome that you got all of your debt paid off, especially your student loans. I need to do that too but I’m not married, nor do I have a full time (it’s tough) so that will definitely take time. However, I do have a savings account and I want to continue to save money – and keep adding MORE money when I make more.
Your story is pretty inspiring, even though I highly dislike Dave Ramsey (I think he gives bad advice) ~ for instance, my husband and I intentionally did not save for our child’s college education, and instead socked more money into our 401(k). (We followed the “skin in the game” principle — and made them get student loans.)
Great work!! My husband and I are very well on our way to paying off $73K in about 3 years! I cannot wait to become debt free! Life is going to be totally different! Budgeting is KEY!
Melanie Sparks says
I so agree on the 401K loans! A terrible idea! Thank you for the useful post and congrats on paying off your debt!
Well done!! that’s amazing!
Erin @ Her Heartland Soul says
Dang! Get it girl!
Mercae Benge says
I struggle so much with my debt. This has some great tips!
Congratulations on your amazing progress! We have some smaller debts that we’re working on and it’s great to see them tick down!
Congrats on paying it off! It’s such a relief to get it paid off. I don’t know about you, but it was definitely a relationship strain for my husband and I. Now, things are great because we don’t have that stress anymore.
This is an amazing testimony of how anyone can pay off debt if they put their mind to it! Congratulations! My husband and I follow similar plans to pay off debt. 🙂
Awesome post and full of loads of tips! I’m working to pay off my uni debt currently but need to get more disciplined with my budget!
It’s amazing how much money you can raise from just selling the items you don’t need anymore!
This is incredible, thanks for sharing your story of how you got there! it was so much hard work but it really paid off! 🙂
I’m trying to sell things we don’t use to declutter – would be good to make a bit of money from it too but we will see haha!
Hope you are having a great week! I just published my first eBook so I’m having a pretty good week! 🙂
Away From The Blue Blog
Congratulations! This is so inspiring.
Hannah E. says
You just inspired my whole life LOL I am working my tail off trying to do what did. Thank you for helping me on the journey!
I love hearing stories like this! We’re reading through the same book and just started using cash. It’s a huge eye opener! We’re spending so much less already! Hopefully we’re as successful as you were. 🙂
Very inspiring! Congrats on becoming debt-free!
Kim @ The Frugal Sisters says
That’s amazing! Sounds like you and your husband definitely became “gazelle intense,” as Dave puts it! Congrats on becoming debt-free. Dave Ramsey inspired my family to become debt-free as well and changed my entire lifestyle. I still haven’t lost that intensity even after paying off the debt, and it sounds like you haven’t either!
Jordyn galan says
I’m definitely going to try your spreadsheets!
Congratulation for your dept free! I also had a dept until recently, But i paid off a few month ago. now I can treat myself
Melanie Sparks says
This is a great plan. It definitely takes facing the reality of your situation, making different choices, and being disciplined.
Kristin Hanes says
This is so awesome!! I love hearing about how people are paying off debt, as it really weighs you down! I also paid off mine, yay1
Congratulations on becoming debt free! What an accomplishment! I love Dave Ramsey , his baby steps have made such a big impact on my life. I wish everyone would follow his advice.
Well done!!! You should be seriously so proud of yourselves! I love reading debt pay off stories, I find them so inspiring!
Also loved the sarcasm about the car payment being only $300 more hahaha!
I love these types of posts! They’re always so inspirational; they make me feel like I can do anything!
My parents are using the Dave Ramsey method for there finances as well. I will have to give it a try.
Great advice! That’s how I’m trying to dig myself out of debt as well!
I graduated college last year and want to save money but had no idea how. This goes to show how much you can accomplish with the right mindset! Thanks for sharing/
Kimberly (@delight_fully) says
Very enlightening article! Congratulations on paying off that debt, that’s fantastic! We only have my student debt and we started paying it off before we got married. It was $48K and we’re down to $17K now. I’d LOVE to pay that off right away.
I needed to read this. It’s encouraging and will push me to do more. I save but need to be more disciplined about it. Thanks for sharing.
Very, very encouraging indeed. This shows that we should never give up on debt. The key to it all though is Step 7, remembering to give generously. A cheerful giver is always rewarded.
Gina Marie says
I can’t wait until I’m in this position. I’m just starting my debt journey so it feels so endless. But post like these keep me motivated
Cait Weingartner says
Congratulations on such a wonderful accomplishment! These are some great suggestions with lots of very useful tips!
This is Us... Living says
we are on a similar journey to getting debt free – so far we have just paid off my credit card in full, but still have my husbands to pay off. i do find have a clear understanding of what your expenses are each month and working with cash are the two major reasons we have been able to cut down our debt so far. thanks for offering even more steps to getting debt free!
Great post…I love Dave Ramsey and need to get on his program!
Congrats on paying that debt off! We’re working on paying our debt off as well. I love Dave Ramsey! Great and inspiring post!
This is amazing! Congratulations and thank you for the tips!
Maria - Dapper House Designs says
This is amazing! Great article on how you were able to accomplish it all! I am going to show my husband so we can both get on a similar plan. So motivating!
The Domestic Musician says
Wow! That’s amazing and motivational! Great job!
We’ve just recently started handling all of our debt and it’s so overwhelming. We need to get on a solid plan and stick with it.
This is awesome! Congrats on paying off all of your debt. Living debt-free is an amazing feeling.
Good Work ! I really can use of these steps to manage my life !
This is such a lovely post to read. Now we know somethings are not just fairytales but they actually happen. That gives us hope. All the very best.
so happy for you, and I esp feel your pain of those student loan debts since we had what amounted to a mortgage sized combined loan debt! thanks for helping a lot of people feel hopeful. 🙂
Hi Ashley, thank you for sharing your journey! It’s very inspiring to hear of such great success! Congrats!
Thank you for sharing this, Ashley! I have such a hard time sticking to a budget, and it’s nice to know there are success stories out there and it can actually be done.
It feels great to pay off debt! Right now I’m in debt a bit, that being with my car and student loan. Nothing unmanageable, but working towards being debt free!
These types of posts always get me so inspired!!
Maria - Dapper House Designs says
Congratulations! That is absolutely amazing! I have recently discovered Dave Ramsey and love his tips. Your story just proves they work!
Angela East says
My husband and I often slip back and forth off and on Dave’s plan. SInce January, we’ve accumulated more than 100k worth of debt. This comes after paying most of it off the year before. SMH!!! I was just telling him we need to hit it hard again and get all of this mess paid down/off. I think our problem is figuring out how not to get pulled back into the cycle once the debt is gone. Congrats on your accomplishments. This is major!!!
Melanie Winters says
Love the point about prioritizing your retirement savings over your kids’ college savings – it’ll be pretty difficult to take care of them if you haven’t even saved enough to take care of yourself! Step 7 is my favorite though 🙂
Mrs. Millennial says
Wow, very inspirational. We’re looking forward to paying off our mortgage next year using a similar plan.
Great job! It’s wonderful to live debt free. My husband and I are both lucky that we were raised by Dave Ramsey-esque parents who taught us well.
Brianna Lynn Hatcher says
Wow!! Great job! This is definitely something that we are working towards! My husband came into the marriage with a lot of student loans, and he has been unemployed for a while, so we have some credit card debt that we have accrued. But this is definitely a long term goal!
Miss Wilson says
Congrats!! That’s a MAJOR accomplishment! Great tips, too, to be budget savvy!
Jason Butler says
Congrats on paying off your debt. I’m currently on baby step number two. If things continue to work out, I should be on number 3 in a year and a half.
Tina von S says
Wow! That’s impressive, congratulations! Success stories like this make me think that anything is possible no matter how deep in trouble you think you are. Congrats again! 🙂
SUCH an informative post – thank you!! It’s all int he planning. You’re an inspiration! Rx
Such a great and inspiring post. I am also on the Dave Ramsey plan. Unfortunately it is just me and my two kids, but I am working on my debt with a vengeance, lol! It will take me longer, but I will get it done!
Josh at LOOKDWN.com says
This is the dream. Hopefully one day I can achieve this.
Great article! Will definitely come in handy, since my boyfriend and I. Will soon build a house and need to save as mich as possible asap and then pay off the loan asap.
I would love to pay that much off in so little time. Thanks for sharing your tips. I know I like to sell things I don’t use anymore if I can!
This is awesome! But the Budget spreadsheet links don’t work 🙁
I love reading post about people achieving something so big in such little time. It motivates me to work hard to pay off our home sooner….. you for sharing.
This is amazing and SO inspiring!!! Such great tips, I need to try this to pay my student loans off!
Mike Leonard says
Congrats that is an amazing accomplishment, very hard to shut off retirement but worth it w/that high interest rates. Great job, very inspiring!
Good work! I also paid off my school debt in about that same time frame.
This is such a huge accomplishment, congrats! I’ve heard people really have achieved great results with Dave Ramsey’s help!
I love this post! I am also using the Dave Ramsey method to pay off debt. It’s such a smart way to approach the debt and easily done by following his steps.
Brooke Serwa says
I’m Just about to begin to tackle my student loan debt and this was definitely something I needed to read! Very inspring, thank you!!
Patricia @ Grab a Plate says
Oh, wow! That’s really amazing. Good for you. I love your comment, “Once you pay attention to where your money is going, it is harder to let it go.” That is so true – I was just talking to a friend about that. Thanks so much for sharing this!
Creative Khadija says
Wow, Congrats, What a huge achievement. Glad to read all detail. Thanks for sharing with us!
Lynn White says
WOW!!! This is truly inspiring! We are in the process of paying off all of out debt too!
This is great! My husband and I are working on this. We are down to 2 consumer debts: my student loan and our vehicle. We already took the amount from his student loan and are putting it towards mine now. Thanks for the explanation!
First of all, congratulations for paying that off in that short amount of time. That is a major achievement. You are truly inspiring
Wow! You did so well! I need to get on track with this stat!
Dyana @adebtfreejourney says
I’m currently on step #3 and hope to have my last credit card paid off by the end of the year! Congrats on paying off such a huge amount!
Wow… this takes a lot of discipline. I am bookmarking your page to come back and read in more detail.
My wife and I have paid off $40k in debt this year. We use some Dave Ramsey advice, but some of the things we do aren’t 100% Dave Ramsey approved, namely paying off highest interest first, moving a bunch of student loans over to a lower interest HELOC, and using credit card to get points but never carrying a balance. We got less than $130k to go, including the house.
Callie Sitek says
Love this! My family is currently embarking on this same journey with roughly the same amount debt! I can’t wait for the day we have $0 debt!!
Is your family planning to keep living off less and investing more or have you found that you’ve gone back to ‘normal’ after the finish of this?
No we are still weird lol! We have our emergency fund fully funded and working on retirement and college accounts!
RAWLINGS BLOG says
Congrats on being free from debt and being financially free. I love your plan to breakforth from debt.Great and lovely post here.
Finances With Family says
Awesome page!! I’ve just started one my own and hope that I can build it to the level of success as you have. Truly an inspiration and wish you continued success along your debt free journey!!
This is so inspiring! It is so helpful to have a plan before you start!
This is so helpful! Meal planning is so important for the budget. When you invest in food at home, you’ll be pushed to stay away from eating out.
This was a good read! Even though selling stuff seems extreme, it fuels the fire to be motivated!