Marching To Debt Freedom – Couple #2 – Month 07


This couple is THROUGH with debt!  It has now been seven months since they announced that they were breaking up with debt.

Here is this month's update!

What went well this month …
This was a good month.  We stuck to our cash envelopes and, of course, did not add any new debt.  We got money back from our taxes, which we used to PAY OFF OUR LAST CREDIT CARD!!!!  Yes, that's right…no more credit card debt!!!!!!  As Joe suggested, we saved a little of our tax reFUNd for ourselves, and used the rest to pay toward debt.  We had enough money to put an EXTRA $1,000 toward paying off Vehicle #1.  It was a great month!! 

Challenges and struggles this month …
Some of our cash envelopes ran out quicker than usual this month.  We made it a point to pull money from another envelope and not use our debit card.  Other than that, we don't have any "real" struggles with the plan.  We know what needs to be done and we stick to it.


Here is their updated Debt Freedom Date calculation …

Month By Month Progress …

What has kept you on track for seven months?  What motivates you to stick with it?
When we first started this we had meetings with Joe every month or so.  The fact that we had someone holding us accountable for our actions made a difference in the beginning.  Of course, we wanted to do what he said and be able to show him we were making progress each month.  But, as time went by we really got into it.  The fact that we could be debt free in  2 or 3 years (other than our home) was really exciting to us.  Especially since I thought I was going to pay on my student loan for the next 15 years!!  Once we got started there was no turning back.  We love paying for things in cash, we love having a plan (AKA: Known Upcoming Expenses Account) and we love paying off our debt and not adding to it.  It is freeing!!  Our focus starting in April is paying off Vehicle #1.  I think that is key…taking it one month at a time, having a focus and celebrating each feat, no matter how big or small.

One last thing that has help my husband and I stay focused is we are a team.  It takes 100% TEAM WORK!!  When one of us is weak, the other is strong.  We make decisions together and stick to the plan together!!!!

Sangl says …
It is AWESOME to see what is happening in Couple #2's lives!!!  I am BLOWN AWAY every single time I see people "get it" and catch a vision of what life will be like without payments.  In just SEVEN months, this couple has paid off $16,339 in debt AND eliminated ALL OF THEIR CREDIT CARDS!!!  In just SEVEN MONTHS, Couple #2 has reduced their Debt Freedom Date by TEN MONTHS.  They are already THREE MONTHS ahead of plan!  This is typical for folks who say "I HAVE HAD ENOUGH!"  (Their IHHE Moment!)

I would not be surprised to see Couple #2 achieve Debt Freedom twenty months from now.  That would make Christmas 2009 and AWESOME Christmas!  Think about it …  Imagine saying to each other at Christmas, "Honey, I bought you Debt Freedom for Christmas!  We now have over $1,600 a month that we can spend on other cool things like investments, vacations, and giving!"

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

Start your own Debt Freedom March by visiting the FREE "TOOLS" page or by obtaining a copy of I Was Broke. Now I'm Not on AMAZON.COM, BORDERS.COM, or via PAYPAL.

Leave a Comment