2019 Debt Freedom Plan Update

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Our Debt Freedom Plan has been a long winding road. The journey started in 2012 when we bought an office building for our business and then found ourselves with a lot of debt and not enough cash flow. To ease my anxiety about our new loans, we took the Financial Peace University home course and it changed how we thought about debt. From what we learned in the course, we wrote our Debt Freedom Plan. 4 – Pay off all Non-Mortgage Debt. | DONE September 2019!!!

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10 Smart Ways to Become Debt Free

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It’s no secret, I am fascinated, encouraged, and border-line obsessed with debt freedom. The idea of becoming debt free makes me downright giddy. So I love to hear the success stories of others who have found debt freedom. What did they specifically do to become debt free? So back in August of 2014, I scoured the internet to look for sources for a new series, Debt Free Stories. 10 Smart Ways to Become Debt Free. Want more debt free advice?

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How We Paid off Six Figures of Debt

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It was so big that I cried for two days straight– we paid off six figures in non-mortgage debts. How we got to six figures of non-mortgage debt: In the summer of 2012, we found an opportunity to purchase an office building for our small business. After the first year, the new business debt weighed on me. By the summer of 2013, we found ourselves in a pickle–we had too much debt and not enough cash flow. Our Debt Freedom Plan

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How our Debt Freedom Plan Prepared Us for the Pandemic

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How Our Debt Freedom Plan Prepared Us for the Pandemic. We’d survived the dip in 2007, carried no credit card debt, and we were contributing to our retirement. We had a lot of new debt from the building purchase and not enough cash flow, so once again we turned to our emergency fund to help sustain us through the months of light revenue. This new business debt weighed on me. Our Debt Freedom Plan was our plan for the future we envision.

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How this Couple Eliminated $180,000 of Debt in 12 Months!

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The segment was so inspiring that I reached out to her to see if she would participate in the Debt Free Stories series. She hosts a You Tube channel, The Former Mrs. Jones , where she vlogs about budgeting, debt free living, and family life. Meet the Former Mrs. Jones: Her Debt Free Story. How much debt did you pay off? What kind of debt was it? Total, we eliminated $180,000 of debt in 12 months. The $40,000 of debt took about 9 months to pay off.

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5 Steps to Crush Debt in 2016 + FREE Debt Payoff Goal Tracker

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Are you ready to crush debt this year? We’re going to give it everything we’ve got and hopefully pay off the last of our non-mortgage debt by the end of this year. It will be quite a feat because by my calculations we’ll be short each month if we just apply our debt snowball payment. We need to find/earn even more money each month to throw at the debt to make our goal by December 31, 2016. 5 Steps to Crush Debt in 2016.

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Meet Aja. She & her husband Paid Off $110,000 in Debt

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Today’s debt free story is from Aja. How much debt did you pay off? What kind of debt was it? We paid off about $110K worth of debt. We were not as “gazelle intense” as we should have been so we often went back and forth adding new debt, paying off other debt, and cash flowed about 30K of private school tuition, so the numbers can get wobbly at times. What inspired you to get debt free? We had one income and lots of debt.

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

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I watched her and her husband’s debt free scream on The Dave Ramsey Show. You can find Angela at her You Tube channel, Our Life…on a Budget , where she vlogs about getting out of debt and staying there! Angela & Jeff’s Debt Free Story. How much debt did you pay off? What kind of debt was it? worth of debt. What inspired you to become debt free? What are the top 3 – 5 ways you found money to put towards debt.

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

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Today’s Debt Free Story is from Amanda & Daniel. Together they blog about becoming debt free and location independence in order to serve the world at Life with a Mission. How much debt did you pay off? What kind of debt was it? We paid off $68,000 of debt in eight months. The debt included about $30,000 in student loans, some medical debt, IRS debt, and a small amount on a credit card. What inspired you to get debt free?

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Find out how Lydia & her Husband Paid off $36,000 in Debt in 2 Years

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Today’s Debt Free Story is from Lydia. She blogs about living a limitless life on a limited budget at Frugal Debt Free Life. How much debt did you pay off? What kind of debt was it? We paid off $36,000 in student loans, credit cards, cars and a bit of medical debt. What inspired you to get debt free? The fear of losing my baby led to the desire for me to be a stay at home mom, but I knew that would never work if we were in such debt.

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Meet Krista & Jon Who Paid Off $36,000 | Debt Free Stories

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Welcome to Debt Free Stories! They paid off $36,000 in debt and cash flowed graduate school. How much debt did you pay off? What kind of debt was it? After graduating with our bachelor’s degrees Jon and I had about $36,000 in debt between us. With tuition payments and debt payments we spent about $60,395 between January 2012 and March 2014 when we became completely debt free with two bachelor’s and two master’s degrees between us.

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Find out how Richard paid off $40,000 of debt

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Today’s Debt Free Story is from Richard of Frugality Magazine , where he shares frugal living tips for financial freedom. How much debt did you pay off? What kind of debt was it? In total I estimate I paid off round $40,000 worth of debt, though depressingly a fair chunk of that was just interest. I left university, as so many do, with a fair chunk of debt. At the same time my credit card debt was slowly creeping upward too thanks to my minimal income.

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Find out how Maureen Paid off $79,540 in Credit Card & Student Loan Debt

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Today’s Debt Free Story is from Maureen. She writes at A Debt Free Stress Free Life. Besides writing on my personal finance blog, A Debt Free Stress Free Life, I’m an adjunct professor at a local college and own a residential and commercial cleaning business. How much debt did you pay off? What kind of debt was it? in credit card debt, and an additional $28,756.17 I was debt free in less than 3 years; 2 years, 11 months and 6 days to be exact.

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Find out How Brian & His Wife Paid off $109,000 in Credit Card Debt

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Today’s Debt Free Story is from Brian. He writes at Debt Discipline about about how his family of 5 deals with money, budgets and debt. I started my blog Debt Discipline to help keep us accountable while paying off our debt. We have involved our children in our money discussion once we decided to become debt free. How much debt did you pay off? What kind of debt was it? It was all consumer debt spread over 5 credit cards.

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Jen & Her Husband Paid off $212,000 in Debt & Medical Expenses in 48 Months

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Today’s Debt Free Story is from Jen. My family and I are most known for paying off over $212,000 worth of debt and medical expenses in four years. In addition to paying off a ton of debt, I am also a 8-time national weightlifter and 2-time US Olympic Festival medal winner as well as an Ironman triathlete. How much debt did you pay off? What kind of debt was it? Over $212,000 worth of debt and medical expenses. What inspired you to get debt free?

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Meet Doug & Laura. They Paid off $23,000 in 16 Months. | Debt Free Stories

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Welcome to Debt Free Stories. How much debt did you pay off? What kind of debt was it? The debt consisted of my student loans and a car loan. What inspired you to get debt free? When my wife and I got married, we both made the decision that our first financial priority would be becoming debt free. Did you follow a particular debt freedom plan or book, such as Dave Ramsey or Debt-Proof Living? Make paying off debt a priority.

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Find out how Jessica & Her Husband Paid off $175,000 of Debt

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Today’s Debt Free Story is from Jessica. How much debt did you pay off? What kind of debt was it? 130K in mortgage debt. 10K in car payments, $35K in credit card debt. We made the decision to tackle our debt back at our home church in Chattanooga. What inspired you to get debt free? My husband has always been the one who has felt the full weight of our debt. What are the top 3 – 5 ways you found money to put towards debt.

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Our 2017 Debt Freedom Plan Update

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As I reflect back to January 2016, I started that year pretty determined to pay off the balance of our non-mortgage debts. Unfortunately, we did not hit that goal and in part, have made some major changes to our Debt Freedom Plan. Our Debt Freedom Plan Started in 2013: The year 2012 was quite exciting for me and my husband. We used quite a bit of our home’s equity in 2012 to put towards the down payment on the commercial property and this added to our debt load.

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Do the Rich Use Debt Differently?

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It was nearly impossible to figure out exactly how the program would work for each query, because, as Bonnie Baker (the engaging and energetic DB2 speaker) used to put it “It depends” Likewise with understanding whether the rich use debt differently than the rest of us… it depends. Just because you manage to accumulate lots of money doesn’t mean that you suddenly get comfortable being in debt. When you take on debt, you take on a level of risk.

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Meet Carrie. She Paid Off $14,000 in Debt in 14 Months.

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Today’s Debt Free Story is from Carrie. How much debt did you pay off? What kind of debt was it? After my first marriage fell apart, I ended up with over $14,000 of consumer debt, made up of a car loan and credit cards. It took just over a year (14 months to be exact) before I paid off all my debts and became debt free! What inspired you to get debt free? Another book that really helped was The Debt-Free Spending Plan by JoAnnah Nagler.

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

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Today’s Debt Free Story is from Charissa. How much debt did you pay off? What kind of debt was it? We started paying it off when we got married and became debt free just shy of our second anniversary. What inspired you to become debt free? I had watched my parents pay off their debt, including their house, when I was a pre-teen, which really influenced me. They didn’t like debt, and as I grew up, neither did I. Debt Free Stories

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WHY We Want to Be Debt Free

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Why are we jumping through these hoops to be debt free? WHY do we want to be debt free? When we wrote our Debt Freedom Plan , I posted it on the refrigerator as a daily reminder for the two of us. Daddy and I needed to pay off some debts before we could make a trip to Disney. ”, “What does debt freedom mean?” ” and my favorite to explain, “What is debt?” “What is debt, mommy?”

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Meet Tracy, a Single Mom Who Paid Off $41,587 | Debt Free Stories

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Welcome to Debt Free Stories. She paid off $41,587 in debt in 14 months! How much debt did you pay off? What kind of debt was it? The debt included overdraft protection, mattress, car, and a credit card (post divorce stress spending, clothes to accommodate the yo yo diets and weight for 2 years, a trip to Disney World & I’m sure several things that I don’t remember because I was spending without a plan). What inspired you to get debt free?

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Find out How Drew & Farrah Paid off $200k of debt, including their HOME

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So I’m thrilled to bring you today’s story, because I actually watched this couple’s debt free scream when it was live on the show. Drew & Farrah’s Debt Free Story. How much debt did you pay off? What kind of debt was it? ACTUAL MONEY PUT TOWARDS DEBT OVER 5 YEARS (because of interest during the 5 years) – $200,000. What inspired you to get debt free? What are the top 3 – 5 ways you found money to put towards debt.

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Reasons to Avoid Debt in 2014

Prairie Eco-Thrifter

I’m sure you’ve heard: household debt is on the rise and consumerism is everywhere. Between credit card offers in the mail promising great rewards and the ability to borrow money for next to nothing, debt can be enticing. My experiences with debt have been 100% negative. As a result, I ended up getting myself into a couple thousand dollars worth of credit card debt on things that I didn’t need. Debt does much more damage than good, however. Debt is exhausting.

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4 Reasons to Graduate Debt-Free

Prairie Eco-Thrifter

Students now more than ever are graduating into a life of student loan payments, debt, and economic uncertainty. Here are some great reasons why you should try to graduate without debt: Job Freedom. When you are saddled with debt, you have to make choices based on paying back that debt. Graduating debt free would give you the opportunity to evaluate what type of company you’d rather work for, instead of who can afford you. Debt is a Waste of Money.

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Get Debt Free With DIY Debt Settlement

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Guest Post Author Bio: This guest post was written by Frank Collins, a professional writer specialized in topics related to personal finance, debt relief, credit repair and more. If you are willing to settle your debts on your own, pass through the debt settlement blog for more tips and advice on the topic. Debt settlement companies have a reputation of scamming consumers out of their money and doing little or nothing to pay off their debts.

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Start Managing Your Debt (And Enter To Win $1000 Cash)

Prairie Eco-Thrifter

Personal debt has unfortunately become a way of life in the 21 st century with levels reaching all time highs. A recent survey in the US showed that increasing numbers of people are filing for bankruptcy as their debts reach levels they simply cannot service. Managing your debt is vital if you are to avoid going down this road. There are some simple ways to manage your debt and you will find four helpful tips here in this article. Look Your Debt in the Eyes.

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Find out how Deacon & his Wife Paid off $52,000 of Debt in 18 Months

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Today’s Debt Free Story is from Deacon. How much debt did you pay off? What kind of debt was it? We paid off $52,000 in consumer debt. It consisted of student loans, a car loan and even some credit card debt. After putting together a budget, it took us 18 months to pay off all of that debt! What inspired you to get debt free? The biggest catalyst for paying of the debt was getting married. If married, who initiated the debt free goal?

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How To Get Out Of Debt – A Biblical Approach To Living Debt-Free

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Where I Found $370 Debt Snowball Money in January

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Our main financial goal in 2015 is to pay down our non-mortgage debt. I have scrutinized our budget tirelessly and I really feel like there’s nothing more to cut, so my focus is turning to finding money to put towards debt. In January, I found $370 to put towards our debt: 1. My hope is to have it all paid off by the end of 2016 and to do so we need to get creative and resourceful. Where can we find extra money?

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Do You Have a Debt Free Story that You’d Like to Share?

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Is your goal to be debt free? They’ve read our family’s Debt Freedom Plan ; we keep it on the refrigerator door. I love to read and hear stories from others who have become debt free. I want to know the details of how they became debt free as if there is this big secret or pearl of wisdom that debt free people have cracked the code for. You’ll meet: Krista & Jon, a young couple who paid off $36,000 in debt AND cash flowed graduate school.

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3 Smart Steps to a Debt Free Christmas

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3 Smart Steps to a Debt Free Christmas. Take these steps and have a Debt Free Christmas. Christmas is coming! That merry time of year that is filled with faith, family, food, and a little bit shopping. The average American will spend about $700 on holiday purchases* and unfortunately many people will get a little surprise in the mail in January when the credit card bills start rolling in.

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The ABC’s of Debt Reduction

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Regardless as to the specifics, many Americans have elected to decrease spending, increase savings and eradicate debt. Fortunately, there is no one size fits all plan to debt reduction. While this may be one of the quickest ways to sock away money for the purpose of debt reduction, it’s likewise the least pleasurable. A simple prerequisite to debt reduction is knowledge. Use a savings account to pay down debts. Debt has become a way of life for so many.

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Our Debt Freedom Plan | Marriage & Money

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Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. We didn’t have credit card debt, we paid off our car notes early, and the interest rate on the student loan was at a low 2.75%, so we thought we were doing okay. But Dave Ramsey’s view of debt is very different. “Debt is Dumb and Cash is King.” We never considered all debt to be dumb. Our Debt Freedom Plan.

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How to Live your Dream Life Debt Free

Prairie Eco-Thrifter

Living your dream life debt free requires a simply task of going back to Grade 1 math lessons and applying the concepts. Likewise, in your adult life, you can think of the first number representing the source of your monthly income and the second depicting debt or expenses – you need to borrow from another in order to complete the operation. Now hold that thought and think about this: living your dream life debt free. . Basically, living your dream life debt free is simple.

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Prepare Now for a Debt Free Christmas

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Instead, we’ll start the new year off right because we celebrated a debt free Christmas. 2 Ways to Prepare for a Debt Free Christmas. News flash: 96 days until Christmas morning. Does that thought make you panic? Do you know how you’ll pay for all of the expenses that the holiday season brings? Gifts, decorations, holiday cards and let’s not forget the food.

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What Makes Me the Most ANGRY About Our Debt!

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I’m a numbers gal and I love to play around with numbers, so this week as I was preparing our April budget I decided to calculate how much interest we are paying each month with our debt payments. I realized that the total amount of interest we pay each month is 25% of our total debt payments. In other words, 25% of our monthly debt payment goes to the bank instead of reducing our principal. Just more motivation to kick our debt to the curb!

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Update #1: Our Debt Freedom Plan

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Back in March I wrote about my family’s Debt Freedom Plan. But reaching #2 has given us new motivation to keep plowing away at our business and our Debt Freedom Plan. We adapted Dave Ramsey’s 7 baby steps to reflect our lifestyle as self-employed small business owners. I added a few steps (our total is 12) to cash flow some upcoming business expenses and to celebrate the huge milestones along the way.

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10 Ways to Recover From Christmas Debt

For the Mommas

10 Ways to Recover From Christmas Debt. The following tips are meant to help you recover without becoming overwhelmed by your Christmas debt. #1: 1: Accept the Debt. Many people get all the bills after the holidays and simply can’t deal with it and decide to put their Christmas debt off for a more convenient time. But, do you seriously think there is going to be a time when your Christmas debt is going to seem smaller?

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How Can Thriftiness Become a Debt Relief Option?

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Guest Post Author Bio: Ryan is a contributory writer associated with the Debt Consolidation Care Community and has written several articles for various financial websites. He holds his expertise in the Debt industry and has made significant contribution through his various articles. If you can base your life on the basis of frugal living, you can easily save a lot of money and get help with paying off your debt. Leave behind debt relief options.

5 Ways to Reduce Your Debt

Prairie Eco-Thrifter

Are you currently in debt? Like many of us who have previously been in debt, I know how difficult financial management can be. Many of us have never been taught the basics as a child and once we reach adulthood, we find ourselves making poor financial decisions that take us down the road of debt. This savings can be directly applied towards your smaller debts such as credit and store cards in order to clear them more quickly.

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Household Debt in Canada

Prairie Eco-Thrifter

Household debt is at an all-time high. In the current economic climate, household debt has been steadily rising, with no signs of stopping. Statistics Canada has a lot of great detailed information on the current state of household debt in our country, but it can all seem like a lot to take in. The real question on most Canadians minds is “How can I save money while paying off my debt?” The post Household Debt in Canada appeared first on Prairie Eco-Thrifter.

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