Debt Free by 29

Sean and I have debt from me going out of state for college and taking out a loan in graduate school to help pay for bills.  We took the David Ramsey Financial Peace University class through our church, Brookview for nine weeks and learned a lot of ways to save and to really dump our debt.  We are tired of paying the minimum payments on our loans and we want to get rid of it!  Some of my loans say the expected pay off date is 2033 and I graduated in 2009.  That is outrageous and not alright with me.  I am not going to pay for that much interest!  We want to pay it off by the time we are 33 we changed it to 29!  We are kicking butt!!!!  Sean turned 29 in July and I turned 29 in November (2015) and we are on track to pay it before we are 30.  We are pumped and jazzed to share our experiences and ways that we made our budget and how we cut back.  We are not financial experts and are not offering any advice, just ways we learned to help our financial situation through David Ramsey.


Our Debt Pay Off

Credit Card                                   Paid off 6/5/13
H Federal Perkins student loan    Paid off 6/17/13
H direct sub student loan             Paid off 7/9/13
S loan                                          Paid off 11/23/13
H AES student loan 2005           Paid off 12/20/13

Sold Hayley's car back to the dealership and essentially paid off the car loan.  Bought a 1997 Honda from a friend who moved and is driving that without payments!!!!  (July 2014)

H AES student loan 2007           Paid off 08/20/14
Sean's Car                
Seans education loan



Updates:

We had some medical bills we were able to pay with cash and not turn it into a loan but had to put our dumping debt on hold.

-We got pregnant :) and had medical bills and hospital bills
-Hayley went to the ER twice for Kidney Stones (once while 8 months pregnant)

We only have 1 loan left to pay off.  God is so good!  We are excited!  Not sure if you know but Dave Ramsey says to pay off your smallest loans first instead of paying off your loans with the lowest interest rate.  So we are doing good, but the last year or so was the hardest paying off the largest loans last as you make the most progress in the beginning paying off the smallest ones first to get momentum.  We cannot wait to pay off our debt and be debt free!


Thanks for reading,

Hayley