Time-Out Tuesday
Each Tuesday we will take time out of the classroom to learn about each other.
A few years ago I began a journey to become more financially secure. I had finished my Master’s about a year prior and thought it was time to start hitting the college debt hard. What was shocking was how much debt we had.
In September 2010 we had a grand total in outstanding debt of 78,532.95. During our payoff we accumulated a little more debt with the purchase of a car and my husband’s student loans. This seems drastic for a couple who were still in their twenties, unfortunately it was “normal.”
A few friends had begun speaking about this guy, Dave Ramsey. I decided to buy his book and see what the hoopla was all about. After reading The Total Money Makeover my life was changed! Luckily the awesome hubby did what he usually does when I get a wild idea- supports me without question.
We tightened our budget down to the bare essentials and I began couponing like a crazy woman. Yes, I have a binder. We both took on as much extra work as we could. In February 2013 we made our last payment and officially paid off 140, 815.51 in debt. We now have a six month emergency fund and are about halfway to our desired down payment for a house.
Was it hard? You betcha! Was it worth it? Absolutely. The hubby and I do not buy anything without thinking anymore. We look for the best deal on each and every item we purchase and are willing to do without to meet our goals.
If you haven’t heard of Dave yet definitely check out his book. I also love his podcasts. I listen to them as I run to stay motivated on this journey. Dave says that you must “Live like no one else now so that later you can live like no one else.” He is right. We had that printed on canvas to hang as art in our apartment. You better believe when we buy our first house (most likely next year) it will be the first thing we hang!
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