Going Debt-Free
Now that we have paid off $100K in student loans & car debt, we get asked a lot how we did it.
1. We took charge of our finances & made our money work for us. We were sick of making payments and watching our money leave us every month.
2. We found a plan & stuck to it (mostly). We weren’t perfect on our four year debt-free journey. We took vacations, ate out, and bought dumb expensive things. But we always returned to the plan. That plan is called “The Baby Steps” from Dave Ramsey. We created a #debtsnowball & focused on eliminating one debt payment at a time.
3. We sold stuff, like Ryan’s brand new Nissan Titan truck. Car payments may be normal but it’s money wasted on something decreasing drastically in value. Just think of how different your life would be if instead of paying for the car in your driveway every month, you put that money in savings or investments.
4. We made a promise never to take out a loan on anything again. Yes, that includes cars. If we want something we’re saving for it. This process is teaching us the power of delayed gratification. There’s nothing we need bad enough to go back into debt for.
Dave Ramsey’s simple plan changed our lives. If you’re feeling stuck under the weight of debt, run, don’t walk, to his resources & dig your way out. If you have the will, you can do it too.
