article thumbnail

Meet Amanda & Daniel. They Paid Off $68,000 in Debt in 8 Months.

Family Balance Sheet

Who initiated the debt free goal? Were there arguments during the time you were working on your debt? Finances have definitely been the biggest strain in our 11 years of marriage. For years Daniel did the finances all by himself and Amanda would stay in the allotted budget amounts, but it didn’t work well for us.

Debt 245
article thumbnail

2019 Debt Freedom Plan Update

Family Balance Sheet

Happy New Year’s 2019: In January 2019, we were down to one final non-mortgage loan, so we created just one financial goal for the year—-to pay off that last non-mortgage debt by December. Dave Ramsey suggests to have a starter emergency fund of $1000 while focusing on paying off non-mortgage debt.

Debt 100
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Create your debt freedom plan

Family Balance Sheet

Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. We didn’t carry over credit card balances, we paid off our car notes early, and the interest rate on the student loan was at a low 2.75%. We thought we were doing really well. Debt is Dumb and Cash is King.”.

Debt 130
article thumbnail

How Angela & Jeff paid off $58,000 of Debt in 2 Years

Family Balance Sheet

We had tried other methods in the past, but found this one suited us best since it forced us to focus on one goal at a time, rather than trying to do it all (pay off debt and contribute to savings and retirement). What are the top 3 – 5 ways you found money to put towards debt.

Debt 100
article thumbnail

Find out how Charissa and Her Husband Paid Off $7665 of Debt and Cash Flowed College

Family Balance Sheet

Today’s Debt Free Story is from Charissa. She helps readers gain control of their finances and live well on a budget at her blog Cook with a Shoe . It was after I started listening to Dave Ramsey, that I started thinking about getting out of debt more quickly and realizing that it was definitely possible to become debt free.

Debt 100
article thumbnail

Find Out How Olivia & Her Husband Paid off Their Mortgage in 33 Months

Family Balance Sheet

We made sure we could afford the monthly payments on a 15 year mortgage, with the mindset that we would pay more each month. What inspired you to get debt free? There were two things that inspired us to pay off debt. But I do realize some things happen that we don’t plan for as well. I rarely use coupons.

Debt 100
article thumbnail

How We Paid off Six Figures of Debt

Family Balance Sheet

Our business was doing very well, and we were excited about the opportunity to own a property outside of our home. I don’t make a lot of income on this blog, and it has definitely decreased recently as I’ve reduced my hours spent blogging. Living a life focused on paying off debt is not always easy.

Debt 130