Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

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Welcome to Debt Free Stories. She and her husband paid off $147,000 in debt–including their home. After paying off the debt, she was able to quit her job to pursue her passion. She blogs at The Debt Myth. I quit my job to focus on my own stuff (blogging, painting, rental property, my iPhone app, writing Kindle books, etc.). Quitting my job is one of the things being debt free has enabled us to do. How much debt did you pay off?

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Find out how Jessica paid off $56,000 of student loans, credit cards, and a car loan.

Family Balance Sheet

Today’s Debt Free Story is from Jessica. How much debt did you pay off? What kind of debt was it? I had $56,000 of debt when I decided to become debt free. It took me five years to pay off my debt but two of those years I had a job loss, I was taking care of my grandparents and I had lost my motivation and drive to pay off the debt. What inspired you to get debt free? How did you celebrate when you became debt free?

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Small Money Mistakes That Have Big Consequences

Prairie Eco-Thrifter

Increasing your credit card limit is really increasing your debt, or at least your exposure to debt, so say ’No!’ Not Having an Emergency Fund It is dangerous to spend every cent you earn and not to have buffer against illness, injury, job loss or hard economic times. Ignoring Your Debt Debt is not just going to go away, you must handle it and work to whittle it away. Don’t forget to enter to win an iPad 3 here at PET.

Money 190

Why You Should Be Skeptical of Financial “Rules of Thumb”

Prairie Eco-Thrifter

The rule of thumb that states that it makes sense to spend 30% of your income each month on a housing payment doesn’t take into account the fact that you might have other debts, and that taking on more might over-leverage you. If you lose your job, or encounter another financial setback, 30% of your income might be too much to handle for a mortgage payment — especially if you have other debt. Rules of thumb are often used to make various financial decisions.

2013 175

Eight Things I Learned After Becoming a Millionaire

Prairie Eco-Thrifter

My spouse and I were that young, poor couple, sloughing away at our day jobs and scrimping and saving for years to build wealth. You don’t have to contend with deciding which bill to pay or how to avoid a debt collector’s call or trying to keep the landlord off your back. Knowing I had the financial backing to live through negative life events (divorce, job loss, catastrophe, etc) removed a level of stress from my life.

2014 198

10 Things To Do When You Lose Your Job

Prairie Eco-Thrifter

2.) Apply for jobs. I realize the job market it tight, but if you are not applying, you are not likely to get a job. Ensure you spend time on each application by moulding your resume to suit the job you are applying for. Sending out bulk applications for a variety of jobs with the exact same resume is one of the worst ways to apply for jobs. Take the time to apply properly and your chance of landing a job significantly increases.

2011 167

Top Tips for Strengthening Your Money Mojo

Prairie Eco-Thrifter

You want to be able to contribute to investment accounts and build up a solid savings to get you through an emergency or unexpected job loss. Do you want to pay off a particular debt in a certain timeframe? When it comes to you finances, are you doing okay, but know you could be doing better? If you answered yes to that question, you are not alone. When it comes to money, most of us could stand to up our game a bit.

Money 109