Marching To Debt Freedom – Couple #1 – Month 04


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!

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  1. Tina Harkey on January 2, 2008 at 9:22 am

    So this couple doesn’t have a mortgage – just a line of credit against their house?

  2. jsangl on January 2, 2008 at 11:01 am

    Sangl says …

    Tina – Nice observation!

    Mortgage is not included in this version of their Debt Freedom Date – they are following Dave Ramsey’s 7 Baby Steps. They are on step two – pay off all debt except for the house.

  3. Chris on January 3, 2008 at 6:12 pm

    Way to go Couple #1. It’s really hard the last quarter of the year to be intense about paying off debt. It’s a season of giving, which usually translates into spending. It’s often a season of travel to see family and friends at Thanksgiving and Christmas. It’s a season when it just simply adds up.

    But we’ve turned the corner into a new year and a chance for a new beginning on really getting serious because all the noise of the 4th quarter is behind us.

    Wouldn’t it be neat to kick Wells Fargo to the curb with some creative thinking before the end of the month?

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