Hear ye, hear ye, Money Saving Lords and Ladies! It’s Freedom Friday where I bi-weekly share our progress in becoming completely debt free. It’s also your turn to share your story of debt slaying. Whether you’ve paid off every cent you owe, are just getting started, or live somewhere in the in between, we want to hear from you! We’re better together, share your story and make us all stronger.
The following story is not for the faint of heart. It is a story of bondage; and of freedom. It is a story of despair; and of hope. It is a story of normalcy; and true, unadulterated weirdness. It is a story of one family’s journey through the dark forests of MasterCard while battling the Vikings of Capitol One. It is a story of how that family Discovered a new way to Chase the American Dream, and how they built a new future for their families and left FICO way, way behind.
The story begins with the first car loan, acquired 15 years ago, and the student loans for college. It continues with more car loans, credit cards the family “just had to have for emergencies” that became, “we can make the payments!” Always asking, “How much down? How much a month.” Instead of asking simply, “How much.” This family wandered into $157,551 of debt, not counting their house! We played “find the pea” for a while and transferred balances from one card to another and looked for new, low rates. We locked in a few rates and called ourselves smart; but the debt remained.
On a warm, sunny day in June, 2008, we decided that we had had enough. We were sick of making 
We are now 32 months into our “Total Money Makeover.” We are budgeting every month before the month begins. In the past, we never really talked about money. We didn’t fight, but we didn’t talk either. Now we are talking about money and planning the month ahead because WE are now in control. In the past 32 months, we have paid off $107,617; in the past year we paid roughly $39,000 off. At the rate we are going, we expect to be debt free (not counting the house) by early 2012, and TOTALLY DEBT FREE in 2015 with nothing about retirement and college to worry about.
In a country of 609.8 million credit cards, and 3.5 cards per cardholder, and a credit card revolving debt of $852.6 Billion, this is a family striving for total weirdness! Less than 25% of the American population do not have a credit card, and we intend to join them. With an average FICO score of 769, our goal is FICO = ZERO. The bottom line is, who gets the money? Our family or the bank? Embrace weirdness! Live for your family and your future!
Way to go Sir Ryan and Lady Amber! We are SO proud of your accomplishment. 2012 will be here before you know it. If you have a story to share, please e-mail me today.
