Tuesday, October 22, 2013

We Did It!

After almost 2 years of strict budgeting and careful planning Kyle and I are 100% debt free. Now this of course does not include our house but that is an investment and not a debt. 

We no longer have loans or credit card debt!

I've had a few people ask me how we did it, here are some tips that worked for us.

*Set up an automatic payment(s) of a specific amount that goes towards debt every month. No matter how big or small it makes a difference.

*Start couponing!!! All of the money I saved from using coupons was put towards debt. If I saved $10 it went towards debt.

*We had a certain dollar amount that we did not want to get under in our checking account (it was equivalent to zero), anything over that amount at the end of a pay period was put towards debt.

*Reduce any bills that you can; reduce your tv plan, reduce your cell phone plan, get rid of unnessecary expenditures.

*Cooking at home is the best way to save money, that goes for making lunches as well. If you do go out to eat, budget for it.

*Any extra money you get throw it towards debt. You may want to spend it randomly but think about how you will feel once the debt is paid off.

*If you can't pay cash for something then wait. Wait until you have the money in hand to buy what you want.

*When grocery shopping only buy what you really need. Meal planning helped me stop buying junk that we didn't need in return we saved money.

Now not all of these will work for everyone, it's just what worked for us.


Enjoy your day!


54 comments:

  1. Awesome job! We just recently paid off the credit card so we're debt free right now as well. :)

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  2. That's the best feeling in the world! We've been debt free since this summer and it's fabulous!!!

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  3. Congrats -- that's GREAT news!! We're working on the same thing right now!!

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  4. WAY TO GO!!! We are almost there. We paid off all our credit card debt but I'm still working to pay off my college loan and we have out mortgage but it feels so much better to not the credit card debt.

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  5. Congratulations on being debt free! I'm on my way but still have at least three years until we're debt free. But, it does feel good when one debt is taken care of :)

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  6. Woohoo! Congratulations! Debt free is the way to be! HAHAHA!! It feels great to be able to put all of that extra money into savings..! (:

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  7. congrats dear! i wish i could get the husband on this boat too...it's gonna be a long years until we are debt free now. :(
    -whit

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  8. Way to go! There is a lightness that comes with being debt free, and it's a great feeling. I have some small student loans I'm still paying down and we have our car payments. We were very close to being down with our car payments, but the move to Germany and back kind out threw that all out of whack.

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  9. We think of our house exactly the same.. it's a mandatory debt therefore, it's not a real debt! Feels good to be free doesn't it? Great job Jen!

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  10. Congrats! It really is the best feeling ever!

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  11. Congrats! And love the tips. I just lowered our cable plan and need to do that to our phone plans as well

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  12. That is awesome! Congrats! And great advice too!

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  13. Congratulations Jen!!! All very key points that I would tell my clients when I was doing financial planning!

    ¤´¨)
    ¸.•*´
    (¸¤ Lanaya | xoxo
    Raising-Reagan.com

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  14. CONGRATULATIONS!!!! That is so exciting!!!

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  15. That's awesome!! And you're right, the house doesn't count. In fact, coming from a CPA, home, car and student loans are all considered "good debt". And those are the only three pieces of debt that we have.

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  16. Yup I did the same. Been debt free for three years now. Made it possible for me to save up for the infertility treatment that aren't covered by Tricare.

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  17. This is so great!!! Congrats. I will be so happy the day my student loans are paid off. But planning on going back to school just means more loans...

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  18. AAAHHH!!!! Yay!!! Congratulations! :-)

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  19. CONGRATULATIONS!!!!!!!!!!! SO EXCITING!!

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  20. ....oh, and I can NOT WAIT until that day comes for us!!!!

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  21. Congrats!!!! I hope to one day be debt free, but I don't see that happening for us for awhile. But at least we keep plugging away at it. :) Congrats again!!!!

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  22. YAY!! Congratulations! That is awesome :)
    LOVE your tips and advice

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  23. Yay for being debt-free, congrats, Jen! Those are great tips, wouldn't have thought about some of these! Great for Kyle being back so you can celebrate this achievement!

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  24. Congratulations! I'll have to remember your advice!

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  25. That is awesome!! Congratulations!! We're working on it. It's hard work, but we'll get there eventually. I'm glad you guys made it there!! Did you follow Dave Ramsey or any sort of plan, or was it all your guys' plans?

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  26. Congrats!!! It's the best feeling in the world to pay that stuff down, we're working on it this year while we have no other overhead expenses! Best financial thing we've done ever!

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  27. Congratulations, that is awesome! We are working a similar plan to pay off our debt. Student loans from when we attended PSU are killer! I can't wait until the day we are debt free! :)

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  28. So amazing Jen! I can't wait to be debt free myself! Darn student loans!

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    1. Thanks Rachel!!! :) Those students loans always get in the way. ;)

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  29. Nice job! We have one car payment and 1 school loan payment still, but that is it. (well, and our mortgage). I can't wait until we don't have either payment!

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  30. Congratulations!!! Getting rid of our credit card debt was the best feeling. We only have a small student loan left, and then FREEDOM! :) And those are great tips!

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  31. Congrats! What an amazing accomplishment. We're working on this right now.

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  32. So exciting!! This list is perfect!

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  33. That's awesome! I can't wait for the day I no longer have student loans to pay, but it'll be a while. At least the interest is tax deductible!

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  34. Oh wow! I am actually quite jealous...I hope to one day be able to say the same thing. I think the tips you provided are time tested because my parents pretty much told me the same things growing up...but it's just the listening and doing part...hmm. Congrats again!!

    Btw, I found you through Mish Lovin' Life...I'm your newest follower :0)

    ~Jane B.

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  35. Congratulations!! Such an awesome accomplishment!! I know that is a huge weight lifted!

    XOXO
    Chelsea
    http://www.anchorsaweighblog.com/

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  36. That's great news! The Husband and I recently sat down and made a plan to pay off our debt as quick as possible as well. Hope we can get it done as fast as you!

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  37. That's awesome! Congrats! My hubby and I are working on that too. If we can't pay cash for something we don't buy it. And with our taxes this coming year we're going to pay off any bills we have.

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  38. That is awesome!!! That deserves a huge CONGRATULATIONS! I dream of the day we are debt free. Unfortunately my husband has a thing for cars. He is always getting something new. If all we had was his car payment for debt I would be ok with that though.

    I'm going to save this post and come back to it later. The Cardinals are about to take the field :) These are some good tips! I'm big into coupons. They have helped me save a lot!

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  39. Way to go! Congrats! We have one car paid off and working on the 2nd one, working at eliminating another credit card soon. House will be paid off before i reach a certain age so that will help. Debt free before.......we are working at it. Thanks for sharing as alot of people are working on that as well. A good goal!

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  40. Wow, congrats!! What an amazing feeling that must be!

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  41. CONGRATULATIONS! That's awesome!!!

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Love hearing from you!! :)