Today, I have a great article from Petrina Turner. Here's how she paid off $40,000 of debt in less than two years. Below is her debt payoff story.
I could not believe it. I just sat and looked down at my worksheet. There were multiple zeros behind one number! How could we have accumulated so much debt? Yes, we used credit cards, but mainly for medical bills and the loss of a job. But then there were our restaurant splurges, the dresses that I caught on sale, and we had to go on a vacation, right?
Thinking back to the countless times we just “whipped out the card” to just buy stuff, now has afforded us the opportunity to be in a such a low place…DEBT! And although thousands of dollars of debt were legitimately based on needs, I had to acknowledge that a good portion of it was based off of wants as well. So, after much discussion and my husband and I being tired of us being in this place, again, we decided to take control of our finances, once and for all!
Before, when we had consumer debt, it was just the two us and we paid it off. Now, we had three times the amount of debt and we have children. We decided we wanted to break the cycle of debt, and leave something other than bills to leave to our kids. So, we created a plan to start moving towards financial freedom. Here are three steps we took to work the plan. [Read more…]