An Anonymous Getting-Out-of-Debt Story
A few years ago I got to meet with a friend who really encouraged me with her getting-out-of-debt story. We were close to paying off the college debt, but not there yet. My friend wants to remain anonymous, and let the glory be given to God alone. To help you understand the background a bit more, at the time she was single with no kids, so that does help expedite the process a bit. Click to read more of her story:
I went to school for 4 years total. My debt was around $24,000 after college. I was trying to pay off as much as I could while I was in school, but it wasn’t really effective. My debt was all on credit cards. I figured that once I got a job I could aggressively go after them. By God’s grace that all came together. 😀
The debt was a combination of living expenses like food, gas, books for school, and maybe 1K to 2K was frivolous spending like DVDs or clothes, etc… Also my car was a little less than half of the $24,000.
Because I was already working where I would get a permanent position, I had made connections as far as a job went. I had no real gap in employment. I didn’t even interview for my first job because it was my same manager. She just asked me where I wanted to work and we went from there.
That was May 2007. I focused on making large payments on my highest interest debt while making the minimum on the other debt. I think that I was completely out of debt by Dec. of 2008. In addition to paying off the debt, I moved myself to being mostly cash only. There are some exceptions I’ll make to that rule, but I have taken the credit cards out of my wallet. Also I currently have my accounts set-up where the majority is sent to savings so it isn’t accessible with my debt card when I get paid. It helps me stick to a budget better.
The Lord has been so gracious to allow me to have the job I have and to live in a home that is affordable. 😀 I just would like to be a good steward of what He has given me. I hope this encourages others to do the same thing.
It took my friend 1 1/2 years until she was free from debt. It’s SOO amazing and inspiring when people put their mind to it, what they can do.
Thanks so much, friend, for sharing your story with us!!
Do you have a getting-out-of-debt story that you would be interested in sharing? Go here to contact us. They are so encouraging to hear, and may inspire others to do likewise!
To read our personal getting-out-of-debt story, go here.