Our Debt Pay Off Journey

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Our debt pay off journey has just begun.

When my husband and I started getting serious about paying off our debt, it was in October of 2019. We had $33,000 worth of debt. (YIKES!) I know there are people out there with more debt than that, but I was shocked to see our number when I added it up!

Our debt included:

• 2 Student Loans
• Various store credit cards (4)
• One major credit card
• Cell phones
• And some money that we owed our parents

Since we started our debt pay off journey in October of 2019, we have paid a little over $4,000 towards our debt! We have paid off several of our small credit cards, paid off our parents, and began paying off our large credit card. It has been a HUGE relief seeing our debt start to go down!

My husband and I have gotten much of our inspiration from Dave Ramsey. We have been following the debt snowball method that Dave Ramsey suggests, and we have also been following the baby steps that he suggests. We are on baby step number 2, which is paying off debt (everything except our home). It is so refreshing every time we pay off one of our smaller debts because then we can contribute more towards the larger debts! It also feels good to have those small wins and see that we are making progress. It lets us know that we can actually do this and pay off all our debt in a quicker amount of time!

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One thing I cannot stress enough is how important having a budget is. Having a budget can be difficult when first starting, but eventually you will get the hang of it. There are some months we still struggle with ours, but we do our best, and it really helps! It helps you see where your money is going and to have better control over it. 

Having a budget has allowed us to see where we spend our money. We have been able to cut costs in some categories and put that money towards our debt. If you don’t have a budget, I urge you to start one!

Over the last few months, I have become so passionate about learning about our finances, where we spend our money, what we can do to improve our spending habits, how to pay off debt, and more. I try to take some time every week to learn something new and try to implement it into our lives. 

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My husband and I have been working to make extra money to pay off our debt. It’s truly amazing all the different ways there are out there that can bring in extra money! This is how we have been able to pay so much towards our debt during the last few months.

So far, this journey has been exciting. It is very difficult during months when we feel like we are broke because we are paying extra to our debt. But, as Dave Ramsey says,  “If you will live like no one else, later you can live like no one else.” I love this saying! If we live like no one else now, by living on the essentials, cutting costs, and not going out. We can live like no one else later by having a debt-free life, giving to charities, and other organizations, and having the things in life we truly want (our dream home, being able to travel, and more). 

I know this journey is going to be so very rewarding when we finally reach the destination! I am so excited to see where this year takes us in our debt payoff journey, and I hope you will stick around to see how it goes! Connect with me on social media to follow along!

Until next time,

Catherine