Yes, you read that right. As of the end of last week, we are debt free. I repeat. We are debt free. That means no credit card balances, no student loans, no car payments or mortgages, nothing.
How did we do it? Well, first, we didn't have that much debt, compared to a lot of Americans out there. We had my student loan and Brandon's cadet loan. We paid off the student loan last year, good riddance, and we kept the cadet loan on monthly payments because the interest was so low that we weren't too worried about it. But with the move we got a load of cash (thanks Army!) and we decided that we might as well get rid of the debt once and for all. So we did!
We've been doing the Dave Ramsay program since January 2011. This means we pay only in cash and budget every month. We put money towards our savings (retirement, house, etc) and then pay our bills, and then allot any money we need for that month. Afterwards, whatever money is left over goes into special savings categories, like cars. Every single cent of our money goes somewhere. If we didn't budget for it, it doesn't get bought that month.
Since reading The Total Money Makeover we have saved more in the past year and a half than we have in our entire relationship. Sure, the good paying job helps, but our dedication to our finances is the key.
I'm not saying all this to brag. Yes, I'm proud of being debt free, I'm proud that we've come this far. Really, though, I want to show you that it IS possible. You could have a little debt or you could have a lot, either way, debt isn't good. Don't be tied down to your money. Live today like no one else so later you can live like no one else.
I will gladly explain to you all how we do our budgeting each month, with charts and all! If you're interested, anyway. I'm excited by our control over our money and I want you to be too. Doesn't matter if you make a lot of money or not, you can control your finances. You can be debt free too!