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 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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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. Quitting my job is one of the things being debt free has enabled us to do. If you want to become debt free, I’m here to tell you it is TOTALLY worth all the time, effort, and frustration. How much debt did you pay off?

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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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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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Finding Motivation When You Have None

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I generally like working out, but working out when I’m not motivated makes me resent it. I had to pull out the big guns to motivate myself to do these things without hating my life. Our debt levels from keeping up with the Jones’ is attributable to that fact. I always get an extra kick of motivation to get something done if somebody with whom I’m particularly competitive is doing well at it. How do you motivate yourself to do things?

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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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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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 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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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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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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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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What Makes Me the Most ANGRY About Our Debt!

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Sometimes it takes pure anger to motivate a person to make a change. 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.

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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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Update #1: Our Debt Freedom Plan

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Back in March I wrote about my family’s Debt Freedom Plan. Our plan is going to take us several years and I think celebrating will motivate us when the going gets long and tough. 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.

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

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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? 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?

Our 2018 Financial Goals

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This is our very last non-mortgage loan and we send an extra payment every month as part of our Debt Freedom Plan. I’ll apply that money to the debt. Our Debt Freedom Plan (an update): In 2013, we found ourselves with a lot of debt and not enough cash flow. It was a tough year, but our Debt Freedom Plan was born and has been our guiding light ever since. You can read my original post: Our Debt Freedom Plan Begins. Pay off all Non-Mortgage Debt.

Our 2019 Financial Goal

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Our 2019 Financial Goal: Our one and only financial goal for the year: Pay off the student loan, our last non-mortgage debt. . I’m very motivated to focus on one goal this year. Before we wrote our Debt Freedom Plan in 2012, I couldn’t see the forest through the trees. Our debts were massive and I was not as financially organized as I am right now. Related Reading: Our original Debt Freedom Plan. Our Debt Freedom Plan

Our Big Financial Goal for 2016

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As God is my witness, it WILL be the year that we pay off the last of our non-mortgage debt. At the time, we had 4 business loans and 1 student loan that were weighing on us, so we created our Debt Freedom Plan. Finally, we are able to see the light at the end of the tunnel and are more motivated than ever to pay off these final two loans. Apply any Found Money to Debt. I’ll apply that money to the debt. Do you want to eliminate debt too?

How to Achieve Your Financial Goals (tips from the achievers)

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They pay off mountains of debt and scream about debt freedom, or maybe they save gobs of money in a record amount of time, or they have considerable success with their new small business. Meet The Achievers: Deacon and his wife paid off $52,000 in debt in 18 months. Maureen eliminated $79,000 of credit card and student loan debt less than 3 years. Their 2017 goal is to pay off the remaining balance on their mortgage ($27,900) and be DEBT FREE!

Finally back.

Finally Frugal

And, unfortunately, sapped some of the motivation and joie de vivre from my life. When will I start to see a real difference in my student loan debt? I'm not just ignoring the fact that the interest is accruing and digging me deeper in debt, as I did for the ten years after I graduated.

Remember, Slow and Steady Wins the Race

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Ask yourself : Do you start saving or paying off debt with a superhuman resolve- determined to avoid all temptation- only to fall off the wagon and give up hope in a matter of a few days? Such an approach to anything can be appealing and even motivating at first, but I can assure you it is the quickest way to fail and lose the race. When it comes to debt, start off with a payment that allows you to still pay off your monthly bills.

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5 Essential Money Tips for Newlyweds

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Get to the Bottom of Your Money Motivations. First of all, it’s important to get to the bottom of your money motivations. Whether you want to pay off debt or save for retirement or get a new TV, you have to be in agreement on the big stuff. My husband and I have pretty much settled on a lifestyle that we both like, even though we have different money motivations. Being wary of debt (and paying it down if you have it).

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Friday Links – School Update Edition

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Take a peak and see what I read this week: Good Reads From The Blogosphere: Jen from Money Rebound writes about Realistic Ways to Slash Your Student Loan Debt – Such a timely post considering the recent rate changes for federal student loans in the United States! Do you know how to protect yourself if debt collectors are harassing you? Are you struggling to find motivation with your financial goals? Happy Friday everyone. Hope your week went well.

Take Control of YOUR Money in 2016

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While we made considerable headway in 2015 with reducing our debts, we missed our goal of paying off a loan by the end of the year. So in 2016, I will continue to share our journey to pay off our debt. Debt Freedom Plan Updates. I’ll elaborate on this soon, but in the mean time, here is our Debt Freedom Plan. And to stay motivated, I want to continue to share the successes of others with more Debt Free Stories. I’m back!

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Take Control of Your Money in 2015

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Most of them are related to our small business, my husband’s chiropractic office, but last January I got a bee in my bonnet about debt…thank you, Dave Ramsey. I tricked …nudged my husband into following along and together we wrote out our Debt Freedom Plan. When I run the numbers, I realize it’s going to take years before we can scream, ”WE’RE DEBT FREE”, our ultimate goal. Debt Free Stories. New year. Fresh start.

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Take Control of Your Retirement Planning in 2016

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BEFORE you invest in your retirement, you must follow Dave Ramsey’s Baby Steps that he outlines in the forward of this book to pay off your non-mortgage debts and establish a fully funded emergency savings. Currently, we are snowballing our non-mortgage debts, otherwise known as Baby Step 2. We MUST pay off this debt, so we can move forward and start contributing to our retirement accounts again…and PLAN for that RV.

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Remember to Celebrate Your Success

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But, I’m convinced that celebrating success is much more motivating than punishing yourself for real or imagined failures. Reducing your debt each month. Avoiding accumulating more debt.

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Financial Peace University | Marriage & Money

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Dave Ramsey is a financial coach, best-selling author, and speaker whose message of “cash is king and debt is dumb” is unrelenting. The book is designed to help you design a plan for paying off your debts and saving for a secure future. It is also full of the inspiring testimonies of ordinary people who have become debt-free. To help create an action plan for our family's finances, debt and our future. Are you a fan of Dave Ramsey?

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Anatomy of the Financially Savvy Brain- Part 4

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It is also responsible for processing concepts of motivation and reward. When this happens, we become motivated to act; thinking and learning are enhanced. We won’t have the motivation to do good. Are you in the positive and motivated realm or are you stressed and anxious?

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Friday Links – Still Swamped Edition

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Student Debt Survivor recently had a milestone birthday. Finding motivation when you have none. My Battle Against Travel Eating and a Lack of Motivation Need An Upgrade? Managing Debt Is A Marathon Not A Sprint. Hi everyone. This week just like last week has been crazy for me. Not only do I feel spun but I am also now starting to feel under the weather. I have not had my full reserves the last few days and it is getting me down.

Friday Links – Back Linking Again Edition

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at Debt Roundup. 5 Tips for Motivating Yourself to Exercise More. Happy Friday everyone. Hope you are doing well. The last few weeks for me have been pretty hectic. I am feeling quite frazzled and stressed. There has been a lot going on at work and at home which has been wearing on me. The good news is I am back to doing Friday links. I got really behind in my reading for a while but I am back to it now. I will be spending my weekend working at an out of town business meeting.

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Look 3 Feet In Front Of You, Not 3 Miles

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Stay motivated. It can be difficult to stay motivated. Read a motivational book. You can even search the internet for motivational quotes or videos on YouTube. I’ve done this quite often for an extra boost of motivation. He currently runs his own blog Smart Wealth , where he discusses Real Estate, personal finance, debt management, and building wealth. Outliers : The Story of Success is a non-fiction book written by Malcolm Gladwell.

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The Importance Of Setting Financial New Year’s Goals

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Sometimes I procrastinate, but when I realize it’s almost time to update my financial goals on the blog, I suddenly become a lot more motivated. You can motivate yourself by creating a way to track your progress visually. How much debt do you have? Here we are, just weeks left in 2014. If you’re like me, you’re scratching your head and wondering how time went so quickly. The New Year brings a chance to make a fresh start and improve our lives.

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Money and Marriage – How To Get And Stay On The Same Track and $999.99 Giveaway

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James McWhinney in Top 6 Marriage-Killing Money Issues , defines the main issues as unequal debt loads between partners; your money personality differences; power plays by the person making more; how many children to have; extended family (either providing money for their needs or having one extended family that is a lot richer than the other); and not making money management a joint venture. The joining of two lives in marriage is not an easy or fast task.

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What Money Advice Would You Give Yourself If You Could Go Back in Time

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Me from 15 years ago would get an earful about what not to do, and advice on budgeting and saving and staying out of debt. By then, I was married, raising a toddler, our family was paying down debt and I was practicing much better financial discipline. It’s about those things that my now self would probably want to give my then self a swift kick in the pants for motivation. We like to say that hindsight is 20/20, and this is especially true of money.

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6 Ways Regular Exercise Can Improve Your Life

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Improve Your Health With The Help Of A Better Schedule Natural Ways to Energize Yourself Motivate Yourself to Get Moving Get Out of Debt…Sleep Debt That Is 6 Proven Tips for How to Get More Sleep. We all know that exercise is good for us. It’s part of a healthy lifestyle. Regular exercise can do more for you than just help you enjoy better health and help you maintain your desired weight. Here are 6 other ways that exercise can improve your life: 1. More Energy.

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10 Reasons You’re Broke

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Sure you know you are in debt over your head. So you continue to get further in debt as you continue to spend. What is the one thing you are refusing to give up that would help you pay off your debt? Be very clear of your motives before buying something. If you always have more month than cash and never seem to get ahead or even to even, it’s time to look at some reasons you may be broke. You spend your money on the wrong stuff.

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Carnival of Personal Finance #316- Family Edition

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Philip from Deliver Away Debt shares his story: How I Delivered Away My Debt. mbhunter from Mighty Bargain Hunter asks Are you contributing to this debt clock? and says, “The big debt clock is over $14 trillion now, but this other one is approaching $1 trillion, and may affect you more directly.&#. Some people find themselves buried under student loan debt with little chance of ever paying it off.

Setting Financial Goals: Make Them Smart and Simple

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Those who just go along, hoping for the best, are usually the ones who struggle financially or get themselves into too much debt. This helps to keep you motivated. A time-frame keeps you motivated and allows you to measure how you’re tracking. You’ve heard the saying that nothing worthwhile is achieved without a goal? Well, this is especially true with your financial planning.