Hi All, I'm so excited! We just paid off the last of our consumer debt and only have the house left. We even have our 6 months savings fund set up! Quick background, in 2017 I found myself with $29k in debt between credit cards and a new to me car. I was making only $28k a year and hit my tipping point. I got ruthless and cut everything out of my spending except food and gas. I did so many things these last few years to get out of debt, including switching car insurance, getting a roommate, moving into a friend's partly finished basement, eating PB& J for lunch for a year, getting rid of internet, spotify, netflix, all of it.
In 2019 I managed to land a job that paid 40k, and set to put half of my income towards by debt, and I did! That job only lasted 11 months, but my husband and I during that time were able to pay for our wedding and honeymoon in cash, plus I paid an additional 7k towards my loans. Meanwhile my now husband had been working on paying off his car, student loan and saving 6 months of expenses.
We got married in March and have had a very unpredictable income with me not having almost any work, and him doing freelance design. But we have been super frugal and have only had to dip into our savings once. We had planned on using our savings right after we got married to pay off the loans, but without a real income during the pandemic we waited to make extra payments.
Last week we decided to sell our second car to pay off the rest of our debt, now that we live together and both work from home. AND on top of that my husband got a full time job offer the same week!
I'm telling you, the relief I have had these last two weeks is unbelievable. The weight of the debt is gone! Financial peace is a real thing. If you are wondering if it is even worth the sacrifice, I'm telling you it is totally worth it!
Submitted November 30, 2020 at 07:20PM by Brinkley1998 https://ift.tt/36oBmmj
