It is my mission to inspire you to pay off your debt by providing success stories and simple tips to get you there. I was able to pay off $45,000 in 17 months and then started helping others pay off their debt fast also. The biggest hurdle in paying off debt is really just believing that you can. That is truly the first step. Once you believe that you can, the rest is figuring out how to get there.
My next debt pay off success story comes from Ketuan. He is a single father of 2 little girls and was able to pay off $90,000 in 3 years! He now has a goal to become a millionaire and is on his way to reaching it. He is changing his family tree and building a legacy for his children.
I connected with Ketuan after seeing a post he made in Chris Hogan’s Everyday Millionaire’s group. He made a post celebrating paying off his mortgage 3 years ago! Once I saw his story, I knew I wanted to share it with you.
This is what he shared when he paid it off 3 years ago.
In 2008 at the Age of 24 I set out on a journey to purchase a Home. I wasn’t sure if I could afford it because I was super young and didn’t have truly stable employment. I still went out on faith and took on the commitment to purchase this home. Making the 30 Year commitment was scary but God had favor on my life and allowed me to pay-off my home 23 years earlier than scheduled. Wow, what a blessing!
This truly aligns to my favorite scripture, ” But seek ye first the kingdomof God, and his righteousness; and all these things shall be added unto you.” Matthew 6:33
Now I’m completely Debt Free because I took action believing that “the borrower is slave to the lender” Proverbs 22:7.
Yes it took hard work and many sacrifices but it was well worth the efforts.
When you believe something is possible, you can do anything. If you believe you can be debt-free, you can. Here is Ketuan’s story about becoming debt-free and how his life has changed.
Tell us about yourself….
I’m a single Father of two girls. I have associate’s and bachelor’s degree in Computer Information System along with Masters in Business Administration.
How much debt did you have? How quickly did you pay it off?
I had little over $90,000 in debt. It took my about 3 years once I was committed to the journey.
What did you do to pay it off?
I paid of my credit cards, car, student loans and my home. My income increased after completing graduate school. I made the commitment to put the increase income toward debt and kept my living cost modest. I cut out vacation completely, cutback on dining out and found free or inexpensive entertainment.
What are your current financial goals? And why
Currently I have a financial goal of one million dollar in net worth. Without any debt there is a much easier path towards this goal. I have this goal to prove to myself and other that it can be done through long term commitment without a sports contract or hitting the lottery.
What was your “aha” moment that caused you to change your financial ways?
I think the “aha” moment for me was one of Dave Ramsey example for paying cash for a car. It stuck with me on being on the right side of the interest equation. Either you will be paying interest or you can be on the opposite side of the tracks and earn interest.
Who has been a major influence on your financial decisions?
Being a father and wanting to develop generational wealth. My children have been the biggest influence on me to become a better and more responsible steward of the money I earn.
Look at the bigger picture in life and never worry about what people will think!
Do you do a monthly budget? Any tips for sticking to it?
Yes, I have budget that is lead by paying myself first. I alway have portion of my income that will go into my 401k, saving and other investment before I consider other financial commitment. This was difficult at first but once I was debt free it now a piece of cake.
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Do you read nonfiction books regularly? What are your favorites?
Yes, I read regularly. I love to learn new things and idea.
My favorite books are:
- 7 Habits of Highly Effective People,
- Automatic Millionaire,
- Shift Your Brilliance and
- The Total Money Makeover
How do you stay motivated?
I try my best to surround myself with people who have extreme goals as well rather they are financial, community or career related. We push each other to stay committed and achieve greatness. I also to moment to self reflect often and learn from thing that I have gone through rather its good or bad.
If you could go back in time, what would you tell yourself?
Look at the bigger picture in life and never worry about what people will think about what type of car you drive or how you dress. The debt involved is never worth trying to impress others.
What is your biggest financial struggle? What do you do to combat that?
For me, I think my biggest struggle now is being patient. Today my goals are aligned I know it just a matter of time before I reach my goal. But when I had debt, my biggest struggle was big purchases like buying a car I didn’t need.
What advice would you give someone in your situation?
“Think beyond today and structure your lifestyle with the idea of having flexibility and options tomorrow. “ ~Ketuan
Sometime people have aspirations of starting business or going a new direction in their career, but they soon give up on new dreams because the debt limit their ability to do something new because they have no flexibility beyond the next paycheck.
Today, Ketuan is an App Development Manager for a major technology firm. In his free time he loves volunteering, mentoring and collaborating on new opportunities for people. He is a dedicated father of two girls.