The average household with any kind of debt owes $137,063, including mortgages. - NerdWallet
That is a scary statistic, when you think about it in contrast to the amount that we save (3.8% as of June 2017).
Getting out of debt can seem like a pipe dream to some.
Until you've gone through the process, it can feel overwhelming and impossible to overcome. It doesn't have to be. With a plan, you can start focusing your finances and getting out of debt and building wealth.
When you choose to get out of debt, you are giving yourself and your family the option to say yes to so much more.
My wife and I paid off over $27,000 in student loans in 2 years.
We have remained debt free (other than our home mortgage) since 2013. Although we got out of debt, it did take some sacrifice. It wasn't easy, but it was so worth it. We got on a plan, focused on making debt our target, created a budget and stayed with the plan. There were some times during our 2 years that we went slower, had setbacks, or just plain took a break. But, overall, we stayed at it and that's why we are debt free other than our mortgage, have an emergency fund and are building wealth faster than we ever have before.
We aren't the only ones who've gotten out of debt either.
It's become an amazing phenomenon, people telling their stories about how they've eliminated their debt and have been changing their ways. When we were getting out of debt, these stories really resonated with us in that, they helped inspire, motivate and challenge us to spur ourselves on to become debt free as well. I have collaborated with many people here that have agreed to share their debt freedom story in order to help motivate others. After reading their story, be sure to visit their sites to learn more about them.
If you have a debt free story to share, please scroll down to the bottom and fill out the form so we can talk about how to get your story out and helping others!
Check out some of the stories below and find one that your resonate with.
Josh shares his story about paying off all their student loans to become debt free within 2 years while sharing tips that contributed to their success along the way.
Make your 2017 New Year’s resolution to finally get rid of your debt. Doing so will help you have a breakthrough year for your financial life.
Kyle shares how he paid off over $33,000 in 18 months while earning a teacher’s salary! Check out his tips here to implement on your debt free journey!
Learning to manage money can come from many different places. Read Cody’s story about how his upbringing helped him to learn to handle money better.
Excuses Are Not Reasons – Why Getting Out of Debt is So Hard I have struggled with debt for my entire adult life and it has been the source of great anxiety over the years. I’ve let debt hold me back from career opportunity, from relationships, and from allowing myself to simply live a better life. After firmly landing myself in over $25,000 of debt and only being able to pay off less than $2,000 each year if even that, I knew there was a problem. I needed to do something about it. You can follow my debt payoff journey […]
How do people create extreme saving opportunities? XYZ shares their story of how they save half of their income each month.
My wife and I have paid off over $27,000 in student loan debt in just 2 years. This is our story of how we got on a plan and started building wealth.
My debt free journey was almost a complete train wreck. Staying focused on the task in front of you is the key to successfully getting out of debt.