How We Paid Off $30,000 of Debt in Less Than 2 Years

When we got married, we were saddled with more than 30,000 U.S. dollars in debt, including credit cards, student loans and car payments. It was an unfortunate realization, if we all work together our finances and saw how bad it was. I confess that I thought for a while, we never would have called ahead.

However, we were paying all that money buy in almost 2 years and has managed, 6 big ticket items at the same time. Want to know how?

It is actually quite simple. We turned, worked hard toEarn money, our budget down and put every extra cent we had on the debt. We ate and has funny things, but we have the cheapest version of the fun things that we could. Dining out was McDonalds. Films have been rented out. We stuck to our plan, and paid him.

First off, we all moved credit card debt at 0% interest cards. We pay far more than the minimum payment each month. When the 0% term has expired, we moved the balance, a new 0% card. In this way,We never paid interest on that debt.

If the car payments were low enough, we pulled those balances to 0% credit cards, too. Why 8% to pay at 0% is free money? At the same time, we have enough money to have for emergencies, which will end things like a new refrigerator and DVD player, among others.

We both knew that we could keep putting hamburgers on a credit card. I paid for the meal, my husband ate 10 years ago. We could not just buy what we wantedsimply because the cards are not maxed. It had a certain discipline. We thought, a simple repayment plan for how long would it take to pay the debt, depending on how much we could pay each month. We believed it and went out every month, as they passed. We knew that once it was paid off his debt, it would allow us to do everything we wanted. Buy a house, travel more, except for the future. As long as we are saddled with debtwould never be in order. We had to pay off, and we have.

federal student loans available personal federal stafford student loans