Our Journey From Pre-Foreclosure To Debt Free In One Year!
The information provided in this blog post about our debt free journey is for informational purposes only and should not be considered as financial advice. The author of this post is not a professional financial advisor, and the content presented here is based solely on personal opinions, experiences, and research. This blog post may contain affiliate links, which means that I may earn a commission if you click on the link and make a purchase, at no extra cost to you. Please note that I only recommend products or services that I personally use and believe will add value to my readers.
Paying off debt can seem impossible especially when you are at rock bottom and don’t know where to begin.
Trust me, my husband and I know how daunting it can be. But if we can do it after facing pre-foreclosure and poor personal spending habits, you can too!
Today, I want to prove that becoming debt-free IS possible by sharing our debt free journey.
And if you still want more… I have created the Beginner’s Budget Blueprint course that goes more in-depth over budgeting and improving your finances so that you can pay off your debt!
Let’s dive in!
The Beginning of Our Debt Free Journey
In March of 2023, my world almost came crumbling down when I discovered our home was in pre-foreclosure.
At the time, I had been working at my new job for the last few months and making good money. Thinking everything was okay, I re-enrolled in school, and made a down payment toward a dream trip to Machu Picchu.
Luckily, I had been saving up for that trip, so I quickly got us current on our bills.
At that point, we knew it was time to look at our finances and make a change.
When we tallied the totals, we realized that my husband and I made decent money. Our bills were relatively inexpensive, BUT we were not budgeting or working together, and we had a lot of debt.
$43,388, to be exact.
Here, take a look:
Yep, these are our real numbers, screenshotted from our very real budget.
Once we got to the root of our issues, we were able to create a realistic and personalized budget that would help us eventually save our first $1,000, pay off over 30K in debt, and improve our finances all while…
- Cash-Flowing My Schooling
- Saving For Multiple Pet Emergencies
- Paying For Household Emergencies
And still be able to have a nice dinner to celebrate every once in a while!
My husband and I have learned that the key to paying off debt is having a solid budget in place.
Because my husband and I became serious about budgeting in a way that worked for us, we were able to pay off 30K in debt in less than one year!
If you don’t have a budget, or have no idea where to begin, check out my Beginner’s Budget Blueprint course!
BEGINNER'S BUDGET BLUEPRINT
Learn how to budget step-by-step with 4 modules, over 15 video lessons, a 40 page course workbook, + budgeting spreadsheet!
Our Debt Free Journey With The Debt Snowball Method
So, what is the debt snowball?
I dive deeper into the Debt Snowball in this post:
But with the debt snowball, you make minimum payments on all of your debts except for the smallest debt. With that smallest debt, you put all your money into paying it off.
Each time you pay a debt off, you move on to the next debt, attacking it while rolling the minimum payment from the first debt to help pay off the current one!
And so on and so forth…
This payoff method was CRUCIAL for me and my husband’s success.
Without having those small wins in the beginning, paying off our big debts, like our car and one huge medical bill, seemed impossible. But our “shovel” helped pay them off quicker than we ever could have imagined!
How It Feels To Be Debt Free
As of writing this, we have become debt-free and have paid off over 30K in debt in less than ONE year!
I never would have imagined we could have completely changed our lives like we have in this past year, but it happened for us, and it can happen for you!
The peace and contentment that comes with having your bills on autopay, knowing you can afford minor emergencies that arise, and knowing you are making a lasting change in your life is unmatched.
It’s freeing. And I want you to feel that way too!
Because I believe in this budgeting method SO much and want to help others get out of debt, I created Beginner’s Budget Blueprint.
In this course, I take you step-by-step through overcoming your false money beliefs, setting your financial goals, organizing your finances, creating your budget, staying consistent with budgeting, and SO. MUCH. MORE!
If you’re ready to improve your finances and get out of debt, you need my Beginner’s Budget Blueprint course!
BEGINNER'S BUDGET BLUEPRINT
Learn how to budget step-by-step with 4 modules, over 15 video lesson, a 40 page course workbook, + budgeting spreadsheet!
There is no better feeling than knowing that your money is working for you and that you no longer owe anyone any of your hard-earned income.
Because I know you want to get out of debt and feel the peace I’m talking about, I will give you some tips so you can start today!
How To Start Your Debt-Free Journey Today!
To start your debt-free journey, you need to know the exact debt you have, the amounts owed, the minimum payments, and when the minimum payments are due.
You can get my debt organizer by signing up for my email list!
Make sure you organize them from smallest to largest total owed so you can see how the snowball will take form!
And most importantly, you want a budget that is personalized, focused, and realistic for your goal of paying off debt.
If you’re ready to improve your finances, learn how to budget, get out of debt, and create your dream life, you need my Beginner’s Budget Blueprint course!
