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02-07-2011, 08:05 AM #1Registered User
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Family and i are debt free! Wahoo!
I just made the final payments to our credit cards tonight to announce my family and I are now debt free!
I'll share my testimony by giving you guys our backgrounds, pre debt spending habits, when we chose to conquer debt and which books/resources we chose to use.
Both my wife and I are in our mid to post 20's. I'm 28 and she's 25. We live in Kodiak, Alaska whaaaa... Alaska? Yeap, Alaska! For those who don't know the cost of living in Kodiak is extremely high. I would probably rate it as high as living in Hawaii or in New York, New York. Examples: 1 gallon of unleaded gas as of right now is $4.09 and the cost of 1 pound of Roma Tomatoes is at $3.99.
Okay now back to our backgrounds. We got married in early 2009 and I took the initiative that we both were on the same page on how we managed our finances i.e. no spending money unless we both agreed on it. She had no debt to bring into the marriage pre-wedding but I did. I had a little under $11,000 to bring into our marriage pre-wedding. Our wedding cost us about $800 out of our pocket and the rest was covered by our family. So that brought us to about a little under $12,000. Our spending habits for the first year wasn't healthy at all so we chose to buy a few books on Amazon.com and see what we could get out of them. Out of the few books we bought one book stood out the most and it was 'America's Cheapest Family' written by the Echonomides. We call that book our Bible for finances! Other resources we kept handy was going to crown.org, yahoo finances, msn finances, streetceo.com just to name a few.
It took a while getting use but once the ball got rolling we were able to pay off all of our debt in one year! Our truck loan's remaining balance of $3,800, my remaining student loan of $3,200, our credit card debt of $5,000ish and that was with a new born baby boy in the picture!
So here's to us being DEBT FREE! CHEERS!
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02-07-2011, 08:14 AM #2Super Moderator
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Woohoo, you guys rock!
Thanks for sharing your story!Russ
Truck payments:109876 5 4 3 2 1 WAHOO!
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02-07-2011, 08:27 AM #3Super Moderator
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Loved reading your story, Congratulations!!!! 
~*Darlene*~
Live Well~LaughOften~Love Much
"Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around."
Leo Buscaglia
2012 Challenges
Books Read: 43
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02-07-2011, 09:55 AM #4Registered User
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Congrats!!! You must have worked extra hard with those prices you are paying.
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02-07-2011, 10:02 AM #5Registered User
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Congrats! What a great financial legacy you are giving that baby boy. Keep up the good work!
Mary Carney 
Working the night shift 'cause they never have meetings at 3am!
DD Sarah 32
DD Rosanne 28
DS Benjamin 18
DD Kathleen 17
Married to David since 1975
Starting grad school September 1, 2010 in pursuit of MSN degree.
MSN degree completed on 4 May 2012 with NO DEBT!
Total cost (including books) = $8375.
Weight loss on Weight Watchers since June 1= 18.8#
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02-07-2011, 10:07 AM #6Registered User
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Congrats it is the best feeling. Great job!
Katy
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02-07-2011, 10:18 AM #7Registered User
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What a true gift to your family- only in your 20's, and not owing anybody anything! WAY TO GO!
May:
Coupon/drug store rewards:$15
$ Spent accumulating coupons: $5.99
YTD totals:
Coupons/drug store rewards: $759.04
$ spent getting coupons:$92.70
2011 total savings:$2068.18 2010:$1066.58
Meatless dinner: 13/52
Weight loss challenge:1.4/35
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02-07-2011, 11:36 AM #8Registered User
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Congratulations! Way to change your family tree!
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02-07-2011, 11:47 AM #9Registered User
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Loved your story! Congratulations.
*Angel*
Dave R. Plan
Step one - Done
Step two-Done
Step three-Done
Step four-Done
Step five- Working on
Step six- almost done
Living debt free except the mortgage and working on that !!!
Be content with what you have;
Rejoice in the way things are,
When you realise there is nothing lacking,
the whole world belongs to you.
-Lao Tzu
Have Courage
“Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires…courage.” Ralph Waldo Emerson
"I've learned that you shouldn't go through life with a catcher's mitt on both hands; you need to be able to throw some things back..." Maya Angelou
"Choose a job you love and you will never work a day in your life." (Confucius 551-478 BC)
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02-07-2011, 11:50 AM #10Registered User
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Congratulations keep up the good work
challanges for 2012
Grocery budget challange $200.for grocery,Hba,& stockpiling,each month.
May,no spend days challange 20-5/22
1-26/2-18/3-26/4-24/
change jar
1-2012 Grocery,hba,stockpiling $168.46
2-2012 ''''''''''''''''''''''''''''''''''''''''''''''""""$160.42
3-2012 """""""""""""""""""""""""""""$136.52
4-2012"""""""""""""""""""""""""""""""$97.97
5-2012''''''''''''''''''''''''''''''''''''''''''''''''''''''''
2 
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02-07-2011, 12:11 PM #11Registered User
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Woot!! Way to go!!!
Debt free thanks to Dave Ramsey!
^scratch that...we have a mortgage now.
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02-07-2011, 12:57 PM #12Registered User
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Fantastic! Way to go! Congratulations...all of your hard work paid off!
Judy
never loose site of the big picture
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02-07-2011, 02:26 PM #13Registered User
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Congratulations!!
Pine trees, with their needles pointing up to heaven, represent everlasting light and life.
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02-07-2011, 02:33 PM #14Registered User
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The idea of my wife and I being parents was ultimately our deciding factor! It was time for me to grow up.
Originally Posted by MaryCarney
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02-07-2011, 03:32 PM #15Registered User
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Congrats on your debt free status!
You should be very proud.
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