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

Family Balance Sheet

About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) But it wasn’t a decade of nothing but paying off debt. When we first started we couldn’t have even conceived of becoming completely debt free. What inspired you to get debt free?

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5 Ways to Reduce Your Debt

Prairie Eco-Thrifter

Look at cutting back on little luxuries such as eating out at lunch each day or in the evenings. Also cut out any unnecessary expenditure, such as subscriptions and memberships that may no longer be of much use to you. Make sure that you are aware of exactly what is coming in and going out of your account each month.

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How We Paid off Six Figures of Debt

Family Balance Sheet

We didn’t eliminate eating out completely, but just cutting back the splurge to once a week drastically reduced how much we spent. When we did eat out, we followed these rules: 15 Smart Tips to Save Money When Eating Out. We stopped paying for our gym membership. . We said NO a lot.

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How to Start a Budget (and be successful at it!)

Family Balance Sheet

I came up with strategies to help us pay for yearly bills, large expenses, and we were able to pay off debts. If you’re spending too much at restaurants, read: 15 Smart Tips to Save Money When Eating Out . But if you have a membership, but don’t use it, CANCEL.

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