freeeedoooommm

Well, we did it. We paid off all of our debt. As the last big payment went through, there was no big celebration or explosion of confetti. Sallie Mae did not call to congratulate us. Because, let's face it, working to pay off debt is weird and anti- American culture.

Kb and I got married shortly after graduating college. We both had student loan debt; one of us had much more than the other... But we both knew that we did not want debt holding us back from our future dreams.

So here it is. We paid off about $80,000 in student loan debt in 28 months.

We have been following Dave Ramsey's plan with some personal adjustments, and for better or worse, it works. One way we strayed from Ramsey is that we did not use the envelope system. I know, gasp! Well, we used one envelope: the fun money envelope. Last year, we were quite discouraged, and I was tired of telling Kb (the free spirit) that he could not buy this or that because it was not in the budget. That is when we instituted fun money.  At the beginning of the month, we each get $50. That money is to be used for anything outside of survival, including eating out, clothing, "special" grocery items (junk food), entertainment, and gifts. It always seems like a lot at the beginning of the month, but it's really not.

I listen to Dave Ramsey's radio show while I'm driving around in the afternoons. It keeps me focused. I am also inspired and encouraged when people call in to do their "debt free scream." It made me want to feel their freedom, to not owe anyone anything. I'm not brave enough to call in and do our own scream so I'll just pretend I did and answer the questions that Dave asks about becoming debt free.

What started you on this journey?
According to Kb, we started this journey of paying off debt so that we could buy a house and other things we wanted. It's true; we both have average (if not below average) incomes and all of those monthly payments were standing in our way. Also, we believe that being debt free is Biblical. It is important to us to be excellent managers of the money with which God has blessed us.


What was the hardest part?
Kb and I agree that the hardest part was not being able to buy things that we wanted. We are the ones that you laugh at with our dumb phones and Amish cable. We don't go on "normal" dates and eating at a restaurant is rare. We haven't been on vacation since our honeymoon, and we definitely do not pay for trash pick-up. We shop at Aldi and the discount grocery store. Our cars are not fancy, but they are paid for.


What is the key to getting of debt?
Kb thinks the key is perseverance and working together with someone else. Our shared goals and dreams for the future really kept us going, and we always remembered our why. I think the key is making sacrifices. People say all the time that they are struggling with money or that times are tough, but in order for change to occur, you have to eliminate expenses. And you have to work!  Kb and I picked up overtime anytime we could, and we sold things that we did not need. It's similar to losing weight. We all know how to be healthy. We all know that we should eat right and exercise. When it comes down to it, you have to make the sacrifices and just do it.

Having patience is also important. I really, really want a house of our own! Now and then, I look through realty listings and dream a little bit. After we got married, so many people advised us to buy a house. It's a buyer's market after all! But we knew that Dave Ramsey's viewpoint was right. We needed to rent for awhile and clean up the mess so that when we buy a home, it will be a blessing, not a curse.


Now what?
Well, we march on to baby step 3 in Dave Ramsey's plan. We save up a bigger emergency fund and start saving for retirement and a down payment for a house. I am so excited for that last one!