How This Couple Paid off 17 Credit Cards in 10 Weeks!

– When I finally sat down and totaled everything up – I think we were at $96,000 in student loan debt – The thought of paying off a student loan until the age of 50, 55 just drove me nuts – It seemed normal Every time we talked about it, like when we brought it up with our family they would say, "Student loan debt is a good debt

" – A good debt, yeah I would say before Financial Peace, I felt, um Like I was on a marathon that was never gonna end

Like I knew the debts would be paid off but it just felt like this was a lifetime – I felt just worried and wanting to hide from what we had gotten ourselves into The minute we decided we were gonna do this, we literally ran with it – Now after Financial Peace, I feel like there's an end, right, there's hope – I feel like a sense of peace, literally, has just washed over me

– More so than anything we definitely feel more connected to her than ever (soft music) – Alright you guys, thank you so much for being here I so appreciate it because your story when I heard about it I was like, "Ah, I want them to come on the show and talk about your journey," because you're on a very significant journey right now in life And so, tell me a little bit about where all this began – I mean basically we had a mound of debt and we realized, well, more Melvin realized that we really need to get rid of it and eventually he got to the point where he was so frustrated with our student loan debt, our credit card debt, and probably frustrated with me (laughing) – So you're the free spirit? – Oh definitely

– Total nerd – He's your nerd – We're on the same team, yay to free spirits Okay, so that is one thing I get a lot, the reluctant spouse The spouse that like won't come on board, and since you were the reluctant spouse, what would you tell a spouse that is like Melvin? Who wants to be on board, what would you say? Okay this is the best way to get your free spirit honed in

What were things that helped you? – I mean, he really wanted me to get on board, but he also gave me my space to make sure, you know, I joined him on my own terms instead of just trying to drag me into it, and honestly, with him, seeing the worry and the fear, and I don't want him to feel like that, I want him to realize he's doing a great job providing for us, so I wanna make sure that we were, I made him feel like that And if me being on board was gonna help him and us doing this together was gonna help out our family then that's what I'm gonna do too – Yeah So the why behind it was huge – Absolutely

He got to the point where he said we need to change and he talked about ordering Financial Peace University over and over again and eventually one night I told him, I said, "If you want it so bad just go order it" – It was kinda towards the tail end of a pay period, we didn't have anything maybe but $150 left in our bank account and so we're like, "Look, if I'm gonna do this, gotta do it now" – Okay so what I think is so significant is that that could've just been another night, right? Like you could've just bought something online, it wasn't a big deal, but you remember the night You remember the time of day, you remember exactly where you guys were – Oh yeah

– So this was a huge pivot, like it'll be a memory that you probably have for the rest of your life That moment that you decided to make that commitment to do something different, is what it amounts to So you guys started Financial Peace University You got into the dumping debt section about getting out of debt and then, tell me what happened from there – I think that dumping debt lesson just lit a fire in me and I just got out of bed, I said, "This is dumb, we can't do this anymore

" I got the scissors, I said, "We're cutting all these up" So you know, sometimes it's hard to admit that we had seventeen credit cards, you know, and it felt so good to get ride of them It really did – It became a whole Saturday ordeal, so literally from, it must've been 7AM by the time we were done with the lesson, getting the two girls up, breakfast, and then literally laying all the credit cards, letting our girls see that and they're like, what are these? And what is this for? I still remember our four year old asking us, what are we doing? And just seeing Giving her that experience, so she knows not to go down this path – And that's it, and that's like what I always tell people when they're getting out of debt, and those of you getting out of debt currently, you probably have felt this because we say you have to be sick and tired of being sick and tired Like it's this point, like, we're done Like I talk to some people, and they're like, "Yeah, I think it'd be kinda fun to get out of debt

" I'm like, "Yeah girl, that's gonna take you a long time Like you can wander your way in, you cannot wander your way out It has to be intentional and there has to be a lot of sacrifice, so you guys started paying off that debt You cut up the credit cards, you started down this path, and you guys Currently, you've paid off all your credit card debt already, right? – We are, we're completely out of credit card debt – Which was how much? – Maybe about $10,000 in credit card give or take – Yes, but since we started Financial Peace, we've paid off $19,000 in our whole total debt – You guys, that's in a couple months, isn't it? – Yeah, it's ten weeks

– Okay so what do you attribute that to? Do you look at it and you're like, "We just were not intentional before and now we're budgeting?" Is it that you're making life self-sacrifices? Like how do you pay off $19,000 in a few months? Like, that's insane – We have definitely ran with the envelope system I think that's been the biggest thing that's helped us, because we overspent a lot in going out and restaurant money, and when that envelope runs out, you're done – It's out If you guys don't know what it is, it's like the best system, so you cash out categories in your budget that you tend to overspend on

Most people, restaurants, groceries, clothing, all of that, so you actually have physical cash, and it's a great accountability because you see the cash and when it is gone, like you said, it's gone, and you have to make a different decision on what you're going to do – Now it's like we're on the same page, we're looking at the same budget, we know how much we're spending for every category and the discipline that comes in behind it, after awhile you come to say, I really spent that much in that area? What am I buying? It just really gets you to start questioning certain areas and like you said, definitely having the same goals – Totally, that's what I always tell people, when you can agree on your money, you're agreeing on more than money You're agreeing on your goals, your dreams, where you wanna go as a family, on your fears, so much is tied into money, so what in your marriage has changed throughout this process? – Definitely our financial communication and it was funny, a few months before we started, he actually wanted to sit down and he asked me what are our goals for the future? And I was just like, "I don't know I'm not sure

" But now I don't get frustrated with that question anymore because I know exactly what we wanna do, and when we get out of debt, we wanna make sure our girls have money for college so they're never in the student loan debt that we're in That's another big part of what we're struggling with is our student loan debt, and we don't ever want them to be part of that – Even if you're past the steps, maybe you're investing or saving for kids' college Whatever it is, no matter where you are, you're like, "Okay we have a goal" So now every dollar, we're just gonna be intentional with where it goes and it adds up so much over time

So you guys, how much debt do you have left in your – When we started Financial Peace University, we had $116,000 and now we are down to – A little south of a hundred – So you're trucking Do y'all have a date in your mind, like have you tracked it out where you're like, our goal is – Yeah, so if nothing else were to change today right, we're thirty-six months out, but now it's really just being more intentional about what else can we adjust here? Do we really need to spend? We're really having more of those discussions – So would you say you're in like a totally different mind, emotional space than you were six months ago, a year ago? – Absolutely, I think the biggest thing I keep telling him is even though we're not even halfway through with our debt snowball, we're not quite there yet, I have a sense of peace and just relief, and I don't feel the weight anymore because we have our plan, we know what we're doing, and it's just an amazing feeling – Well thank you guys so much again for coming on and sharing your story I mean, aren't they so incredible? Like right now, if you don't wanna like run through a brick wall, I don't know what your problem is, people

Seriously, it is just remarkable when you gain control of your money, they are living proof of it, that you have control and you have peace, you guys, and they still are in their journey getting out of debt, but the peace of mind that comes with having a plan and knowing what to do changes everything and Financial Peace University, it is seriously one of the best things you can do If you have not signed up, sign up, click the link below, get more information, and if you wanna know more about the envelope system, which is amazing, too, I'll put a link down below of a video that I shot earlier on that, so make sure to check that out You guys, you're awesome Thanks so much again – Thank you

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