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Marching To Debt Freedom – Couple #1 – Month 15

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now over a year into their Debt Freedom March.

Couple #1's Thoughts This Month

The current economic environment is flipping crazy.  I can only think that God had his hand in my wife and I deciding to get out of debt long before this downturn.

  • We paid half the balance of car 2 and owe just $500.
  • We increased the payment on the HELOC to $700.
  • The property taxes are already paid when in years past I would have to wait until my tax check came back.
  • Christmas is bought and paid for and under the tree. Instead of buying useless presents for friends this year, I made gifts out in my shop.

We have a lot to be thankful for.  We have our jobs, we have our health, and we have each other.  May God bless you all as I have been blessed.  Merry Christmas!

Updated Debt Freedom Date

Month By Month Progress

Sangl says

Another excellent month!  Couple #1 has a fully-functioning Known, Upcoming Expenses account that has enabled them to stay the course even in difficult economic times.  If your budget is constantly smashed by things like property taxes, quarterly insurance premiums, vacation, or Christmas, I highly recommend clicking HERE to learn how to set up a Known, Upcoming Expenses account.

Read Previous Monthly Updates For Couple #1 HERE

Marching To Debt Freedom – Couple #1 – Month 14

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now over a year into their Debt Freedom March.

Couple #1's Thoughts This Month

It was a good month.  We are upping the payment on the HELOC and are close to paying off car 2.  With the financial world blowing up around us, it is such a great feeling not to have to make payments on all of that debt!

Updated Debt Freedom Date

Month By Month Progress

Sangl Says …

Couple #1 is making huge strides toward debt freedom.  It takes time, but it is awesome to see the progress being made!

Readers …

How is your Debt Freedom March progressing?   You can get started on your own Debt Freedom March HERE.

Read Previous Monthly Updates For Couple #1 HERE

Marching To Debt Freedom – Couple #1 – Month 13

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now over a year into their Debt Freedom March.

Couple #1's Thoughts This Month

I am so thankful for your help and encouragement in these tough times. If we were carrying our previous levels of debt it would be stressful to say the least. We are seeing our 401k shrivel but we all know that will return with time and stability. I only hope Americans now see that being in debt is dangerous combination of timing and chance.

Updated Debt Freedom Date

Month By Month Progress

Sangl Says …

Another boring month of debt reduction … :)  Couple #1 has figured this thing out.  They have a plan that is working, and that means more debt has left.  Way to go!

Readers …

How is your Debt Freedom March progressing?

In my book, I Was Broke. Now I'm Not., I share the story of my Debt Freedom March and teach the exact tools that Jenn and I used to become debt-free.  You can do it too!  You can read the book's introduction HERE.

Receive each post automatically in your E-MAIL by clicking HERE.

Marching To Debt Freedom – Couple #1 – Month 12

Introduction 

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now ELEVEN months into their Debt Freedom March.

Good/Bad This Month

This month went to plan. It is great to see these balances going down.  On the other hand, it is difficult for expenses to go up so much.  It seems as though all of our extra spending money is going in the tank and into the grocery cart, but I can't complain.  I feel very lucky.  We have a house that is not in foreclosure, and we have two great jobs with benefits and insurance.  We are so blessed.

Updated Debt Freedom Date

Month By Month Progress

Sangl Says

Couple #1 is now twelve months into their debt freedom march.  What a fantastic year it has been!  They have paid off $21,801.  This is what can happen when one is intensely focused on debt freedom and recognizes what life will be like when there is ZERO DEBT.

When Couple #1 started out, they had $35,695 in non-house debt.  They now have only $16,000 of non-house debt remaining.  Outstanding!

Couple #1 is doing a great job of sticking to their debt freedom march.  There are times that it seems almost unattainable, but it IS attainable and it IS so worth it!

Readers …

How is your own Debt Freedom March progressing?

In my book, I Was Broke. Now I'm Not., I share the story of my Debt Freedom March and teach the exact tools that Jenn and I used to become debt-free.  You can do it too!  You can read the book's introduction HERE.

Receive each post automatically in your E-MAIL by clicking HERE.

Marching To Debt Freedom – Couple #1 – Month 11

Introduction 

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now ELEVEN months into their Debt Freedom March.

Good/Bad This Month

We are really struggling with the economy right now. We are in sales and am currently way below last year's figures.  For the first time in twenty years, we laid off people in our home office. Things are really scary. On the bright side, we are not carrying near as much debt as this time last year so we are not creating new debt which to me is the most important thing.  I thank God for all we have and pray for those who are struggling way more than my family. Thanks for all of your help and wisdom.

Updated Debt Freedom Date

Month By Month Progress

Sangl Says

Another debt has left Couple #1's household!  The American Express has been kicked out forever.  Nice!

Here is what is so incredible – Couple #1 began attacking their debt just eleven months ago, and they have paid off $20,462!  Way to go Couple #1 – I can't wait to see where you guys stand at the end of your first full year of attacking your debt!

Readers …

How is your own Debt Freedom March progressing?

In my book, I Was Broke. Now I'm Not., I share the story of my Debt Freedom March and teach the exact tools that Jenn and I used to become debt-free.  You can do it too!  You can read the book's introduction HERE.

Receive each post automatically in your E-MAIL by clicking HERE.

Marching To Debt Freedom – Couple #1 – Month 10

Introduction 

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now NINE months into their Debt Freedom March.

What went well this month?

Staying on schedule. I am glad we started this months ago. I would hate to be carrying that extra debt through these tough times.

What were the challenges/struggles this month?

Expenses are taking all the disposable income right now. Food and gas are unbelievable. We are determined not to create new debt. We are being very creative about saying no.

Updated Debt Freedom Date

Month By Month Progress

What has helped you stay on this Debt Freedom March?

The day that I can say I owe no money to anyone will be a benchmark in my life!

Sangl Says …

Next month, Couple #1 will clear $20,000 of debt paid off in the first 11 months of their Debt Freedom March!  That is AWESOME!  Also, it appears that the American Express card will be ditched completely!  This stuff works!

Readers …

How is your own Debt Freedom March progressing?

In my book, I Was Broke. Now I'm Not., I share the story of my Debt Freedom March and teach the exact tools that Jenn and I used to become debt-free.  You can do it too!  You can read the book's introduction HERE.

Marching To Debt Freedom – Couple #1 – Month 09

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now NINE months into their Debt Freedom March.

What went well this month?

Everything went reasonably well. We had a few unexpected bills but that is life. The rising cost of living is eating into our monthly budget a little but we are on track.

What were the challenges/struggles this month?

GAS, FOOD!!!

Updated Debt Freedom Date

Month By Month Progress

What has helped you stay on this Debt Freedom March?

The prize at the end of this is not being indebted to the leeches.  I want to be free of the weight of debt.  It is a cancer.

How has this Debt Freedom March impacted your marriage relationship?

It has created a sense of trust and unity. Together we are invincible, and we have a little change in our pocket.

Sangl says …

There are several success stories this month!  Did you notice that Couple #1 paid off TWO credit cards this month?  Lowe's and Discover both went into the "PAID OFF!" area this month.  AWESOME!  Also, they have paid off $17,963 in debt in just nine months.  That is INCREDIBLE! That is a new car's worth of debt.  Couple #1 could have continued living like they had in the past, and they would have been able to pay the bills fine.  But they have caught a glimpse of what life is going to be like without debt, and nothing can stop them.

This is what this entire crusade is all about.  Helping others accomplish far more than they ever thought possible with their personal finances!  I LOVE THIS STUFF!

Readers …

What is your Debt Freedom Date?  I hope it is zero or approaching it quickly!

Read Previous Monthly Updates For Couple #1 HERE

In my book that was released in January, I share the story of my Debt Freedom March and teach the exact tools that Jenn and I used to become debt-free.  You can do it too!  You can read the book's introduction HERE.

Marching To Debt Freedom – Couple #1 – Month 08

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now EIGHT months into their march.  How time flies!

What went well this month …

We are on plan!

What were the challenges/struggles this month …

I had to pay a large bill, but no sweat I had my emergency fund.

What is your favorite tool on JoeSangl.com?  Why?

It's a toss-up between the monthly budget (which is the engine of saving) and the debt freedom date calculator (which is the prize).

Updated Debt Freedom Date

Month By Month Progress

Sangl Says …

Couple #1 has paid off nearly $15,000 in debt in the past eight months.  That is nearly $2,000 PER MONTH!  Unbelievable.  In eight months, their Debt Freedom Date has dropped by TWELVE months.  AWESOME!

Readers …

It is amazing to see what happens when a written plan is put together AND followed.  You CAN do this too!  Visit the free TOOLS page by clicking "TOOLS" link at the top right-hand corner, and get started on your own Debt Freedom March!

Read Previous Monthly Updates For Couple #1 HERE

Like what you are reading?  Receive each post automatically in your E-MAIL by clicking HERE.

Marching To Debt Freedom – Couple #1 – Month 07

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now SEVEN months into their march.  Here is this month's update.

What went well this month …

We are working the plan.  I jacked up the emergency fund to $5,000 and payed a little more on some bills.

What were the challenges/struggles this month …

NONE

What has kept you on the wagon for SEVEN months?

I sleep at night.  I owe this to my family.  God has blessed us with so much, and I need to take good care of it.

Updated Debt Freedom Date

Month By Month Progress

Sangl Says …

Incredible progress again this month!  This is outstanding.  By my calculations, this family will be debt-free except for their house (1st Mortgage and Home Equity) in less than TWELVE MONTHS!  That will be INCREDIBLE!

Lowes and American Express are going to be leaving within the next few months and then the dentist is going to be VERY CONFUSED when the office receives a snowball payment of $1,170 ($500 Lowes + $500 AMEX + $170 Braces)!  It is so fun to watch the debts just leave!

Readers …

THIS is what happens when you experience your IHHE Moment and get intensely focused!  This debt does not stand a chance.  I love it!  This stuff works!  I can't wait to receive an invitation to YOUR debt freedom party!

Read Previous Monthly Updates For Couple #1 HERE

Like what you are reading?  Receive each post automatically in your E-MAIL by clicking HERE.

Marching To Debt Freedom – Couple #1 – Month 06

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now SIX months into their march.  Here is this month's update.

What went well this month …

WOW! This is like when you can fit into your skinny jeans again.  God blessed us and sent us a bonus check and instead of blowing it, I put it to good use.  I paid off my car, and paid $3,000.00 on the other car.  I am stoked!  In about three months, I will be shed of all debt except the big stuff.  We are also getting a tax refund, and I am hurling that at debt too.  I feel like David reaching for the stones, baby!

What were the challenges/struggles this month …

The only struggle is feeling guilty because we did not do this early on.  I would be a freaking gazillionare by now.  God rocks.  Joe rocks.  Not being broke rocks.  Yee Ha!

What are the biggest changes you have seen as a result of the first six months of this march …

This has made us focus like a laser beam on our finances – both good and bad.  It has let us have a glimpse of what life will be like with no debt, and I like it.  I can only wish that anyone who reads this takes it to heart.  Don't let credit cards ruin your happiness.  I will always remember my IHHE Moment!

Updated Debt Freedom Date …

Month By Month Progress …

Sangl Says …

ANOTHER DEBT IS GONE!  Couple #1 has definitely had enough.  Look at the progress they have made in just six months!  Their initial Debt Freedom Date calculation was 42.9 months.  They are now down to 35.1 months AND they have avoided all new debt.  They had to slow down during Christmas so that they could avoid debt that month, but it allowed them to stay on the path toward financial freedom.  In just six months, Couple #1 has made FOUR different debts leave their life!

Way to go, Couple #1!  I am FIRED UP by the progress you guys are making!

Readers …

How are you doing on YOUR debt freedom march?  You can do this!

Read Previous Monthly Updates For Couple #1 HERE

Like what you are reading?  Receive each post automatically in your E-MAIL by clicking HERE.

 

Marching To Debt Freedom – Couple #1 – Month 05

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now five months into their march.  Here is this month's update.

What went well this month …

Well, it's January, and we are back on track.  I am jacked because this year we are putting a lot of debt in our rear view mirror.  Look for next month's update, big things are going to happen.  Thank you, Joe, and thanks to all with encouraging words!  It is great to do something really meaningful.  Now if I can shed about 20 lbs along with my debt.

Challenges and struggles for this month …

The challenge is being impatient.  I want to pay everything all at once.  I must remember that I did not get here overnight, and I won't be paid up overnight.  I'm Not Broke is big medicine, share it with your friends! 

Updated Debt Freedom Date …

Month By Month Progress …

Sangl says …

Couple #1 PAID OFF ANOTHER CREDIT CARD!  Couple #1 is making excellent progress.  Based upon their update this month, I suspect that they are going to be receiving a tax refund or bonus!  They also gained 1.5 months toward debt freedom!  This couple are beginning to emerge from the toughest months – the beginning months.  Pretty soon this is going to be second nature and this debt will start dropping like flies!

Think about it – Couple #1 has paid off $4,802 in just FIVE months!  That is nearly one thousand per month!  It is amazing what you can do when you have had your IHHE Moment

Readers …

Are you receiving a tax refund this year?  You might want to read the series "Best Utilize Your Tax Refund" before you spend it!

Also, take a moment to consider your own personal finance situation.  What would it be like to share it with the world like Couple #1 is?  Will you take a moment to thank them and encourage them on their journey? 

Read Previous Monthly Updates For Couple #1 HERE

Like what you are reading?  Receive each post automatically in your E-MAIL by clicking HERE.

Marching To Debt Freedom – Couple #1 – Month 04

Introduction

Couple #1 is THROUGH with debt!  They have been married for many years and have two children.  They are now four months into their march.  Here is this month's update.

What went well this month …

We paid cash for Christmas, and we didn't spend as much this year.  Our kids are older, and it is not so much about the gift as it is about showing your family how much they mean to you.

Challenges and struggles for this month …

Only minimum payments were paid this month.  That means wasted interest and delayed freedom but our day will come.  2008 will be a watershed year, or should I say a debt shedding year.  I am jacked up about it.  I plan on sleeping better because I don't have to worry who I am going to pay tomorrow. 

Updated Debt Freedom Date …

Month By Month Progress …

Sangl says …

This month Couple #1 has experienced something that every single person who attempts to pay off debt WILL EXPERIENCE – They encountered a Budget-Busting Expense.  They chose (rightly) to AVOID MORE DEBT by paying the minimum payments.  This allowed them to PAY CASH for Christmas!

Think about it this way.  How demoralizing would it be for you to be attacking your debt and then have to turn back to debt because you do not have money for a budget-busting expense?  It has derailed many attempts at achieving debt freedom.  Don't let this happen to you!  Choose to do what Couple #1 did – slow down enough on the debt freedom march to have the cash on hand for your budget-busting expenses!

Way to go Couple #1!  I am FIRED UP by your progress!  You guys are inspiring THOUSANDS to take control of their finances!  I can't WAIT for your Debt Freedom Party!

Readers …

You too can PAY CASH for next Christmas!  Read the series "Save Money For Next Christmas" to avoid debt during Christmas 2008!

You can receive each post from www.JosephSangl.com FREE via E-MAIL by clicking HERE!

Marching To Debt Freedom – Couple #1 – Month 03

Introduction

Couple #1 has HAD IT with debt!  They have been married for many years and have two children.

It has now been three full months since they embarked on their Debt Freedom March!  That means that the hardest months are behind them!

On to the update for this month!

What went well this month …

I can see improvement not just in the numbers but in the actions of me and my family. The kids are starting not to hound me for things that cost so much.

Challenges and struggles for this month …

Christmas is LOOMING and I have not planned ahead.  I think what I have decided to do is to pay cash for Christmas and to pay the minimums on the debt just for this month and resume the march in Jan. This will be the last year of a Christmas not planned ahead.

Updated Debt Freedom Date …

 

 Month By Month Progress …

Sangl says …

I am FIRED UP by the progress that Couple 1 has made!  In just three short months, they have made two debts leave and paid off over $3,000 in debt!

Even more important, the family is getting on board!  The children are realizing how huge of a lifestyle change this is and are jumping on board!  There is NOTHING like a united family attacking debt.

I am thrilled to see that Couple 1 is going to start saving for Christmas 2008 in January!  It is SO MUCH EASIER to save for known, upcoming expenses over the course of months instead of absorbing the entire budget-crushing expense in a single month.

While they are going to pay less on debt, I am PUMPED to see that they are avoiding Christmas debt by paying cash!  This is so important!  As you attack debt, you will encounter expenses that threaten your ability to avoid debt.  You have to make the decision that NOTHING is important enough to go get debt.  Way to go!

Readers …

You can save for Christmas (and property taxes, annual insurance premiums, and other known, upcoming expenses) in advance as well with your own monthly escrow account.  THIS ARTICLE shows you exactly how to do it!

It is encouragement time for Couple 1.  Would you take a moment to share your thoughts with Couple 1?

You can receive each article FREE via E-MAIL by clicking HERE! 

Marching To Debt Freedom – Couple #1

Introduction

Couple #1 has HAD IT with debt!  They have been married for many years and have two children.

It has now been two full months since they embarked on their Debt Freedom March!

Here's the update for this month!

What went well this month …

The budget is in effect and being cursed daily.Smile  The debt is being taken out 1 by 1.  Two Cards are ZERO and a 3rd will fall this month The emergency fund is funded.

Challenges and struggles for this month …

It is hard because Christmas is coming ,and I have obviously not looked at a calendar.  I am going to do the best I can to go without in other areas and cut back on total Chistmas spending. This time next year I will have Christmas already funded.

Here is what their updated Debt Freedom Date calculation looks like.

You can calculate your own Debt Freedom Date by clicking HERE!
 
Sangl says …
The first three months of budgeting are the most difficult.  You are changing your spending behavior and that takes a lot of effort!  I am proud of Couple #1 for sticking to the plan!  The plan will work if Couple #1 works the plan!
 
Couple #1 gained 0.20 months toward their debt freedom over the past month, but don't miss the HUGE accomplishments!  Two of their credit cards have left AND they now have an emergency fund!  Take a lesson from Couple #1 – BEFORE you go attack debt, make sure that you save up at least $1,000 in a beginner emergency fund.  If you have kids or a house, I recommend at least $2,500!
 
A note to Couple #1 – You don't have to incur debt for Christmas!  This is THE YEAR and THE TIME that you are changing your spending behavior!  The best Christmas in the world is the one that is a blessing to you and your family.  Avoiding debt will bless your family! 
 
Way to go Couple #1, you are on your way!
 
Readers …
Would you write Couple #1 a note of encouragement – especially as to how you have avoided Christmas debt?
 
 

Marching To Debt Freedom – Couple #1

You may remember reading a few weeks ago that www.JosephSangl.com will be featuring inspiring stories of people who are marching their way out of debt.

Today, www.JosephSangl.com welcomes the first couple.

Introduction

This first couple has HAD IT with debt and are just starting out on their path toward Debt Freedom!  This couple has been married for many years and have two children.

Here is what their Debt Freedom Date Calculation looks like.

What went well this month …

Just the very act of looking where every single penny comes and goes is beneficial. We are pumped about doing this for our family.We are using cash envelopes for groceries and implementing the budget.

Challenges and struggles for this month … 

I am in one of those months where money is tight because I have not planned ahead. I am cutting spending by carving some fat out of the things we thought we needed but really don't. I am setting aside money in an ING savings account for the escrow fund. I am getting to my 2500 emergency fund ASAP. I am then going to whale away at the debt.

Sangl Says …

This is the FIRST MONTH that couple #1 has a detailed plan for every single dollar they earn.  INCOME – OUTGO = EXACTLY ZERO!!!  Couple #1 – I am proud of you, and I can't WAIT to celebrate your achievement of securing Debt Freedom!

The AWESOME thing is that TWO of your debts will be leaving THIS MONTH!!!!  Next month, you will be able to apply those payments to the Wells Fargo Credit Card! 

Readers – Would you write some notes of encouragement for this couple as they step out of debt together?

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