Less Debt - More Adventure
One of the things that stop most from doing what they dream, debt. Our family is just like every other ordinary family. Always wanting the new and greatest item. We are not by any means saying that having any of this is bad. To us it just wasn’t worth the sweat, blood and tears to have the material things and not have the freedom to do more. Working around the clock so that we can make money just to pay for a house we are hardly in, groceries, activities that are costly, to only travel once a year if we are lucky. It all wasn’t making sense to us anymore. We do not want this kind of lifestyle. We want more time to enjoy our family and friends, less time working and worrying about which item we need to buy next. Once we decided this lifestyle wasn’t for us, we buckled down. Our journey to paying off our debt started about a year ago. We had a little above the national average for credit card debt. We knew that if we wanted to make this a reality, we needed to have an aggressive approach to accomplishing living debt free by the time we leave. We did research on some debt consolidation places, and even thought about refinancing our house. With the consolidation places, they wanted way more money than we could afford a month, and refinancing would have gone against our goal of using our equity when we leave. So, after a little more digging we went with the common snowball effect. We lined up all of our credit card debt and decided to start with the lowest balance we had. Some of our accounts we had fallen behind on and the others we just made the minimum payment to. We took a total of three hundred dollars a month and spread it out to the minimum payments and took the left over, about 150 bucks and started to pay that to the lowest credit card. According to our calculations this would put us out of credit card debt in May 2019. We also created a spreadsheet of our monthly costs and purchases. We followed this by only getting the necessities. That meant no eating out, no fun activities, no shopping, or late-night casino trips. When we went to the grocery store, we made sure we were not hungry (since going when you are hungry makes you buy things you don’t really need). We made a meal plan for each week, adding those ingredients that we didn’t have to our necessity list. We found side jobs when we got the chance and had free time on top of our busy schedule. The biggest thing with this is being disciplined. We want to leave debt free. Having one credit card to use for gas and emergencies. We also want to keep our credit score high so that if we do need to get a loan, for some reason, we don’t have to worry about having a high interest rate. Some have suggested that we use an Amazon card or similar, but we will not be buying a lot of items since our goal is to live a simple life. We will be purchasing food and gas and that’s about it. We will find a good credit card with rewards for gas and groceries and use that. We were willing to do whatever it took… We have sacrificed a little fun so that later on we can have more fun, cool adventures without the worry of having debt following in our shadows. We are almost there! If we can do this, so can you!! Even if this isn’t the adventure your looking for, we hope that you came across an idea or tip that you haven’t tried yet. At the end of the day we all have our own hopes and dreams, and a quote that I have always loved that inspires me every day is “If you can dream it, you can achieve it”. If you have any suggestions or tips on how you get rid of your debt leave a comment below. We would love to hear some other suggestions that could help us or someone else. Thank you for visiting!