Debt-Free FTW!

Today marks an important personal milestone for my wife and me. As of this afternoon, all of our credit cards are carrying a zero balance. The only debts we have now are our mortgage and a bedroom set from RC Willey on which we pay no interest. This means that Shauna doesn’t have to work full-time for us to support ourselves and we’ll be able to start stashing away our spare funds into savings.

It took over a year and a half of hard work and a very strict budget to make it all happen. It helped that we searched endlessly on the internet for site like Cafe Credit, we got some valuable knowledge for free from doing that. We didn’t buy a lot of the toys we would have liked to (HDTV, MacBook Pro, new windows, etc.), but we’ve also been able to pay for a lot of major purchases with cold, hard cash (garage door and opener, fridge, dishwasher, etc.). Once you start living the debt-free lifestyle, you start to realize why every single year, LDS church leaders beat on the “live within your means” drum.

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5 Responses

  1. Krispy says:

    Awesome! I’m so proud of you two! You’re my heroes!

  2. Bill says:

    Congrads, I knew you would get there. The next step is to start earning money while you sleep and let the rule of 72 start to work for you now that it is no longer working against you

  3. Kristi says:

    I find it ironic that the same month you guys begin to live debt free, I start using my first credit card and creating debt. Not totally true because we’ve had student loan’s/ car payments, but we’ve never had any credit debt until now. Stupid winter with it’s stupid illnesses and doctor bills we’ve had to put on the card (which is luckily 0 interest right now!!)
    But at any rate, yeah it feels so good to reach that point, I’m proud of you guys!

  4. jeremy says:

    Nice work, we are on our way of getting rid of credit card debt, and should be be done with it around March. Then just have the good old student loans and car.

  5. Daisy Paige says:

    Congrats to you! Seriously, that is so wonderful. And just in time for the baby! I think if everyone could experience how liberating it is to live debt-free, there would be much less consumption and waste in the world.

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