Our Journey

My hubby and I have been married for over 8 years. We have had individual debt issues before marrying in 2004. We have each done all of the wrong things with money. I have had the electricity turned off, the phone turned off and other things for late payments. At one time I had a horrible credit rating. My husband had one as well. We had to drive 15 year old cars because we didn’t qualify for a decent car. My husband was severely delinquent on a student loan of over $31,000. He was being charged over $250 in interest per month at one point. I went through the phase of not opening the bills (If I don’t look at it, it didn’t come in the mail). I have bounced checks albeit unintentionally. As embarrasing as it is to admit, I even had a credit card confiscated by a store clerk when he called the credit card company because I was declined ( I think they gave him a reward for mailing my card back-LOL).

Why am I telling you all of this??? I want you to know that no matter where you’ve been, I have been there too and there is hope. You can turn the ship around and live a different life. I’m not going to lie to you and tell you that it’s simple and happens instantly. It doesn’t. It takes work, but it can be done.

Let me show you the other side of things. At one point in time, we had over $100,000 in non – mortgage debt. That’s an astounding amount of money to owe. Then the ultrasound technician told us that we had twins on the way-YIKES!!! We realized then that we had to live differently.

We did exactly what I outline here. The steps to getting out of debt and the deals that help me save the extra money to make double and triple payments towards our debt. When you save a few hundred dollars per month (using this site and others), you free up that money to send to debt repayment. Onc you pay off a debt or two, your’re hooked. Since starting our program we have:

  • Paid off over $26,000 in credit card debt
  • Paid off our $23,000 2006 Chrysler Town and Country Minivan (Payment was $474/mo.)
  • Paid off my husband’s student loan – balance was $31,000
  • Paid off my hubby’s 2007 Dodge Durango (payment was $529/month).
  • Traded in the 2006 mini van for a 2012 Toyota Sienna and recently PAID THAT OFF (van initially cost over $34,000. We put down our mini-van, $11,000 in cash and just paid the balance off in cash) I got the title in the mail on 2/2/13 !

We are now debt FREE except for the house. We recently moved into a single house. Our older townhouse had 7 floors (one room on every floor) and no central air conditioning. That was rough with twins (especially when they were babies) as their room was on the 5th floor.

We sold our townhouse last May, moved into a single house and put $65,000 from the proceeds of the house sale towards the new house. Had we not been debt free it would not have been possible to purchase our current home, which is perfect for us.

Another thing that would have not been possible is that I recently applied for a 9 month leave from work. The twins started Kindergarten in September and Kayla was really having difficulty with the transition. She cried and had tummy aches every day before school. She wouldn’t eat her lunch at school etc… They simultaneously increased the hours that I was working as a teacher and were unable to work with me to help Kayla. It just wasn’t working out for our family. I was at my job for over 22 years, so it was a difficult decision. I would NOT have even have had the option if not for the fact that most of the debt is now gone.

It feels GREAT. My hubby says that we need to rack up some more debt so that we get some mail. We don’t get alot of mail these days :) I actually have credit card companies begging me to use their cards.

I can honestly tell you that while we’re not done yet, life feels different now. We don’t argue about money. I don’t worry about affording my daughter’s wants and needs. I don’t lose sleep because of money. The list goes on and on.

Keep following our journey and please tell me yours. It helps to have a support system when you are going through this. Keep checking in for deals to get freebies and really cheap household things and then come home and make an extra payment to your credit card! Your debt can be gone soon too! I am a teacher at heart and I LOVE to get emails from all of my readers (and I get a lot of ‘em) telling me about debts that have been paid off due to the motivation found on MommyLuvs2Save ! I want to help all of you dig out from the burden of debt.

I feature a segment on my site called What Have You Done to Get Debt FREE ? We all make dozens of money decisions each day that impact the financial standing of our family. The point of this segment is to write about all of the things we have done each day in our quest to get debt free. My goal with this segment is for my readers to encourage and inspire one another on our journey. It isn’t easy, but it helps to make some friends along the way! Please join us!