When you’re first stepping into your journey towards debt freedom, it’s natural to want to get out of the paycheck to paycheck cycle as fast as possible. With budgeting and the seemingly never-ending search to cut costs and corners and pay back your loans, there’s a lot to keep you busy. The problem is, you might soon find your life not only consumed by debt, but by your own efforts to eliminate it.
On today’s episode of The His & Her Money Show, Allea Grummert from AskAllea.com has some advice for anyone who might be struggling to manage both their finances and their sanity as they work towards debt freedom. She initially started her blog as a platform to help her friends with their finances, but soon it blossomed into so much more. In January 2016, Allea was house hunting under $30,000 worth of debt and not looking forward to juggling her car loan, student loans, AND a mortgage with her limited budget. That’s when she decided it was time to step back and put her interest in finances and budgeting to good use.
Allea attacked her debt with Dave Ramsey’s gazelle intensity, paid off her car loan and chopped away at her student loans, and in 14 months is well on her way to debt freedom! It’s impressive, but if she had the chance to go back and do it again, would she do anything differently? Probably.
Allea quickly realized that she didn’t have to go “hot and heavy” for her entire 3-year plan to financial freedom, and today she explains how, by finding life balance while budgeting and sticking to her long-term goals, she’s confident that she’ll be completely debt free by the time she turns 30!
WHAT YOU WILL LEARN IN THIS EPISODE
- The importance of finding life balance during your debt free journey and not getting overwhelmed
- Steps Allea took to pay off her car loan
- How Allea set goals to help stay in the mindset to become debt free
- Ways to find balance between eliminating debt and living life
- Creating a game plan for getting out of debt
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