People look for techniques on how to get away from their financial trouble, such as ways to attain debt freedom. It’s the greatest feeling when you’re financially free, enjoying things and saving for a secure future.
On this episode of The His and Her Money Show, we have Dallas and Sami, who took amazing steps to kick away $195,000 of debt in just a matter of 18 months. How did this couple organize their plans and actions to achieve this incredible debt payoff goal?
Even before their marriage, Sami was very transparent about her debts. After the wedding bells, they soon felt that there was something wrong with their finances. Though they expected to make fairly good money and save it, they realized that they didn’t want to continue dragging around the debts that they had prior to their marriage. They had to end their debt to prepare for a better future. But Sami and Dallas struggled to handle their personal budget and even though Sami had learned finances in school, she needed to learn more about how to executing a household budget as it’s very different in reality.
The couple had to change their mindset. They took the information they learned and used it. Although Sami owed the majority of the debt, Dallas was very supportive and they got through it together to destroy it. They made wise decisions with their money, as much as they possibly could. They ambitiously want to launch some business ventures while paying off their debts, so they had to decide which ones first to avoid any consequences and multiply their money long term. They started zero-base budgeting. They felt if they could save more, they could do more. In Dallas’ words, “A budget is a powerful tool to learn and to master.”Tackle it and get rid of it so that you can move on with life.Click To Tweet
When it was time for the last payment, Sami was excited and grateful. She never thought the day would come when she wouldn’t owe money to someone, while Dallas’ anticipation grew with their journey to financial freedom. They learned that paying off debt was a starting point for a sound retirement and so they can now start planning for their future. Sami is the founder of Eat Pray Budget, a website dedicated to inspiring people to live a debt free life. Dallas Hagerman is the founder of Wild Ride Radio, which is a motorcycle show designed specifically for Bikers, and those with a love of two wheels.
What You Will Learn in This Episode
- The sacrifices the couple made to get out of debt faster.How hard budgeting is and how they learned it.
- Trials they faced and how they conquered them.How they handled paying off debt and achieving business dreams at the same time.
- Words of encouragement for couples who badly want to get rid of debt.
Resource Mentioned In This Episode
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