Got debt? My friend, Lindsay, from One Beautiful Home is going to share her story with us today. I bet many of us can relate. Her story is so compelling to me that I wanted to share it with you. If you are at a loss of what to do in your current financial situation or you just want to be better about your money in the coming year then take a look at what she has to say and the advice she has to give.
Two years ago my Husband and I decided that we wanted to write our own financial story.
I will never forget the day that I knew we were headed toward financial ruin. It was on my birthday back in 2014. We came home from a nice day out, and I grabbed the mail. There was a letter in the mailbox from my husbands student loan company. He had finished his (executive)MBA the previous November – and we received his letter telling us that repayment was going to begin the following month, and what the actual amount was going to be. This is what we found out:
- Over the course repayment we would be paying $249,882 in just interest
- Our oldest child (who was only 3.5) would be out of college before the loan was re-payed
- The loan would never actually be repaid in full. The legal limit for repayment would come before the loan was paid in fun (24 years)
- The monthly minimum payment was $412 MORE a month than our mortgage
- You can read the whole story, here.
You may not be able to relate to our student debt story – but you might be able to relate to the following, Americans on average:
- 75% live paycheck to paycheck
- 45% have absolutely no money saved for retirement
- 26% have no savings what-so-ever
- over 60% would not be able to come up with $400 if an emergency were to arise
- Over $15,000 in credit card debt
This is what I am talking about, when I say you need to write you own financial story. You do not want to be a member of any of those lifestyles. Break free from the debt cycle!
So after that phone call back in 2014, I immediately got to work with creating a plan for our family. I refuse(ed) to let that be our life long financial story. I started researching, and creating documents that would help us track our payments, set-up financial goals, save for emergencies, and so much more. That is how the Soon-To-Be Debt Free Workbook was born!
This workbook has changed our families life. Since using it, we have never missed a payment on any bill. We’ve been able to plan and work hard to pay off thousands of dollars (more) a year on our student loans, knocking the years of payments down as we go. We will not be paying on these for 24 years. AND We will not be paying nearly $250,000 in interest! I can honestly say that it is because of this workbook.
I encourage all of you to take a hard look at what you want your financial story to be. You may have half the book written, but you have the ability to write the rest of it – and make it what you want it to be!
I wanted to extend a discount to all of you guys. I have created a coupon code that will give you 10% off! Just use code: HappilyEverUncluttered That takes the tier 1 price below $5.00! It will be one of the best decisions you’ve ever made for your financial life!