How Irfan and Mina Paid off Their $200,000 Mortgage in 3 Years!
When it comes to wastefulness, the primary issue most people have is not consumerism per se, but the sheer level of it, and the amount society appears to require. Being consumed by a consumerist culture isn’t just about buying things you want. It’s about you being fully convinced that you need things that you don’t actually need or want, and encouraging you to spend money on these things, sometimes even when you can’t afford them.
Being in debt may be the norm in America but that doesn’t mean it’s a good thing. Financial trendsetters of today tell us that it’s not bad to consume… It’s bad to consume more than your means can allow for. On this episode of The His and Her Money Show, Irfan and Mina tell us how they paid off their $200,000 mortgage in 3 years, and teaches us not to try to keep with the Joneses, but we should actually strive to become the new Joneses.Consumerism is going to make you feel that you are a weirdo. But then we have to realize that weird is goodClick To Tweet
Irfan and Mina started off in their marriage with dissimilar financial mindsets from each other. However, they eventually were able to concur on a systematic mindset and structure of minimalism. Irfan and Mina resolved to a powerful formula that helped them attack their home mortgage and keep them out of debt. Their method was to focus on their saving rate over focusing on acquiring more income.
Defining “frugality” vs “minimalism” helped Irfan and Mina indulge in their lives and enjoy their journey of quickly paying off their home mortgage. Irfan and Mina’s kids understood and conformed to the minimalistic ideals, which made them aware of financial independence at an early age—a legacy Irfan and Mina were happy to pass on. This helped them remain inspired in going through the rigors of getting out debt.
[bctt tweet=”One of the most important aspects for us for any goal is that we enjoy the journey.” username=”@HisandHerMoney”]
Irfan and Mina have a fantastic Youtube channel where they talk about personal finance, minimalism, a good joyful intentional life on less, and enjoying every moment of it. They offer life coaching and have a book: From Business Woman to Housewife. You can also find more information about them on their website TheUniverseGuru.com
What You Will Learn In This Episode
- Their comparison of minimalism vs frugality.
- How Irfan and Mina optimized their savings rate in terms of getting mortgage for their house.
- Why the journey is more important than the destination.
- The three components of keeping yourself on track to successful pay off debt.
- Life lessons they share about the value of time and the value of life.
- Their advice to motivate people on setting themselves towards a debt-free life.
Resources Mentioned In This Episode
Thank You For Listening!
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Special thanks to Clearpoint for sponsoring our podcast. Clearpoint Credit Counseling Solutions (CCCS) has been providing consumers with budget, debt, and housing advice for 50 years. Clearpoint’s counselors help consumers identify the causes of their individual financial problems and make a plan to address them.