Today, I celebrate and cherish this moment to be finally free from the shackles of debt!
In a little less than a year, I tackled $34,507.43 in both credit card debt and personal loan respectively! We persevered an income pay cut in the middle of Covid lockdown!
At first, we thought this is never gonna happen, it’s next to impossible because the odds are not on our favour. We thought we will be slaves to debt forever.
However, we did our best and worked so hard to get to this stage. We sacrificed many things to make it happen in 2020 – no inheritance to rely on, no Lotto wins to expect. We only trusted the process and it definitely worked!
We could have never done it this quick without both being fully engaged and intentional with our money. Living a frugal but meaningful life saved us from the bondage of debt!
I have to confess that I got so obsessed with this whole quest. Two years ago, we decided that we no longer want to live in debt- we got incredibly tired of the monthly payments which we felt is absolute robbery and it seems to be never-ending. We desperately tried all measures available to make it happen. Some strategies did not work but we did not stop at our failed attempts. There was a phase where I had to sit down and kept playing around with figures; I couldn’t stop until I achieved what I want to happen with our money. I also had to seek counsel from a trusted couple who is a friend of ours virtually; the pair is known to be absolute money savvy. With several financial blunders we have committed in the past, I didn’t want to repeat similar offence.
The truth is, we were hanging on to some savings while the debt is sitting around with accumulated interests. It hit us that we haven’t really saved until we are debt-free. It was only imperative to tackle this one down which saved me a whooping $8,315.39 in interest charges.
I can’t wait for what lies ahead and for what the future holds. But one thing is for certain— I am focused but not finished!
Indeed it is true that it is not about what it is, it is what it can become!
May our Lord God be always glorified!
Love and light,
Mrs. Budget Tipster