Monday, November 10, 2014

That Time We Paid Off $92,000 of Debt.

It happened.  Took us 3.5 years but we can proudly say that we are debt free (with the exception of the house - but that's next on our Plan of Attack list).

Getting out of debt was quite the journey.  (Our official Debt Freedom date was September 16, 2011).  There were alot of sacrifices that we had to make along the way:

  • Our wedding and honeymoon were less than epic.  Deciding to only pay cash limited a lot of our decision making.  So,we used good quality plastic ware instead of China.  And we DIY'ed just about anything we could imagine - our centerpieces, favors, wedding programs.  I even made my dress and my bridal party's dresses.  Yup, it was that serious!  So, less than epic, yes.  But fully paid for before we said, "I do".

           Remind me to recap all of our wedding money saving tips in the near future...
  • We had to turn down alot of invites to last-minute parties, events, or get togethers.  Don't get me wrong - we had fun, but only within the parameters of our budget.  When our Entertainment money was spent for the month, that was it.  You had to give us a few weeks heads up if you really wanted us at your event.  There's nothing wrong with a little pre-planning, right?  I think this kind of discipline helps every aspect of your life (message).
  • We got made fun of by friends and family...primarily because of the sacrifices we made during our debt overhaul journey.  We got rid of cable (my grandmother still doesn't understand why we ditched it; she thinks I'm depriving my husband)!  My husband's friends would jokingly ask if he was allowed to basically "come out and play".  They would even offer to pay his way at times (which was/is totally not a problem)!
  • Did I mention we saved up for every purchase??  That mean't 1 of 2 things - either we had to prolong gratification, like waiting to go on vacations...or we had to make do with older, more seasoned items - like buying a "new to us" 7 year old car (9 years old, to date) because that was all that we could afford at the time.
  • We had to say "no" to ourselves alot.  I think you get the picture, right?
Our debt-freedom journey is the main reason for this blog.  Our taste of the "finer things" have not changed, but our wallets are in no position to fork out the dough that these things typically require.  This is a lifestyle change.  Our debt overhaul journey has helped us realize that sacrifices have to be made in order to achieve our ultimate goal.  And for us, that's financial independence (yes, house loan - that means we're coming for you)!!  We have a ways to go, but DIYing our way to our "dream home" is the key to helping us reach our goal a lot more quickly!

Here's to living Lofty 4 Less!

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