Today we had a major accomplishment as a family - we are officially DEBT FREE (except for our house). This is such an amazing feeling of great peace and comfort. We started the journey of becoming debt free in March of 2009 by simply paying a little extra every month. A year later we started following the Dave Ramsey plan and started really making a dent in the total amount. Within two years we had paid off our small car loan and all of my student loans; the following month we got some of the greatest news ever - I was pregnant. With this news we took a break from paying down our debt to save up for any unexpected expenses. But today we are officially done after paying off the remaining balance of Todd's student loans :)
This is one of the greatest feelings in the world - such a feeling of relief and comfort knowing that these are gone. But truly a blessing from God.
When we started this process, we committed to each other that we would never purchase anything else with debt. We called and canceled all of our credit cards over a year and a half ago (so don't ever beleive anything that says you cant live without them, we have never come into a snag not having them). None of the debt that we had was credit card related but we hated the idea of what they are.
March 2009 Beginning Balance - $86,470.15
Last payment made February 13, 2012
Paid in full in just under 3 years!!!!
"...but with God all things are possible." Matthew 19:26
"The rich rule over the poor, and the borrower is slave of the lender" Proverbs 22:7
The plan that we followed - has really blessed our lives by making us focus on what is truly important when it comes to money...
http://www.daveramsey.com/new/baby-steps/
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