Marching To Debt Freedom – Couple #3 – Month 03

I am excited to introduce Couple #3 – the newest members of the "Marching To Debt Freedom" crusade.

Introduction

This couple has been married for many years and have one child.   They have HAD IT with their debt and have been marching toward debt freedom since November 2007.  They are THROUGH with credit cards.

What went well this month …

We transferred our Bank of America card balance to another card at a much lower interest rate.  We also got the interest rate reduced on one of the Discover cards.  We "spent" our tax refund before we actually received it, and it went much further!  Half of it funded our emergency fund which is now over $2,900!

What were the challenges/struggles this month …

Not really any this month …  except we want it all paid off!

Updated Debt Freedom Date …

Sangl Says …

I am excited about the progress of Couple #3!  One debt is already paid off, and more are getting ready to fall!  It is AMAZING how fast debt can leave when you have your IHHE Moment!

I challenge everyone to seek lower interest rates on any debt you are carrying.  Many times you can obtain a lower interest rate just by calling your credit card.  Or you can avoid the conflict altogether by rolling the balance over to a "0% for 12 months" card. 

Readers …

Will you take a moment to leave a comment for Couple #3 and thank them for sharing their personal financial information with everyone?  It takes a lot of courage to do this, and I am PUMPED to watch this debt fly away!

Read the Debt Freedom March updates for Couple #1 and Couple #2 

Want to start your own Debt Freedom March?  Check out the free tools HERE.  My book also teaches you how to use all of the free tools.  You can purchase your copy at AMAZON.COM or via PAYPAL

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4 Responses to “Marching To Debt Freedom – Couple #3 – Month 03”

  1. Steve March 6, 2008 at 5:09 am #

    Nice to see some progress being made with our favorite “Couple #3″ towards getting out of debt. Congratulations!

    Curious, do you ever suggest tackling the low balances first to help people initially feel like they are making progress to help them get in the right mindset to deal with the long grind of getting out of debt?

    I often see people that start with enthusiasm but fall off the wagon after 6 months because getting out of debt feels like having to go without rather than being able to appreciate the future benefits of getting out of debt. But then again, that’s just good old hyperbolic discounting at work.

  2. Brandon March 6, 2008 at 6:19 am #

    Couple # 3 – Thanks so much for sharing your story!!! That is so awesome! Keep it up!

  3. merch March 6, 2008 at 6:37 am #

    My favorite part of the blog is reading how these couples are working out of debt.

    After they are out of debt, do you advise them further? What next steps do you advise the couples take?

  4. Jeff Gibson March 6, 2008 at 4:09 pm #

    Way to go couple #3! We’re using your example to inspire us. We just filled out the Debt Freedom Calculator and are eager to watch it start working!

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