Defender of my Home

Faith, Family, and Freedom

Category: Debt Freedom (page 2 of 2)

Eating an Elephant: Our Path to Debt Free Living

Original Post – 4/2/2016

April 1, 2016
     Someone recently said that, more often than not, you hear about the experiences of those after they are debt free rather than watching them go through the process. We decided it might be a good idea to allow others to witness us eat this elephant.
I felt like this was an important idea because over my years of researching how people got out of debt, there always seemed to be some huge blessing to come in and help them along the way. Now, I am not going to limit God…if he wants to pull a miracle out of his bag of goodies who am I to say no, but so far those big blessings are not something we have been able to factor in. That doesn’t mean we aren’t blessed. We are unbelievably blessed beyond anything we deserve. We are just average people in day to day life though. We don’t have any rich aunts who left us a lump sum in her will, we don’t have any extra properties of value to sell and kick the extra funds towards the debt, we don’t have a rare collection of antique baseball cards sitting in our attic. We just have strong will and a desire to feel like we aren’t owned by others. We do have a home we are renting, but selling it would probably do more harm than good right now. Maybe one day things will change and we can consider that home an option for moving us forward financially, but that simply isn’t the story for us at this time.
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Nothing But Love: 4 Resources to help you get out of debt

Original Post – 3/26/2016

5512221…I wish that Tommy Tutone had changed Jenny’s number but alas, those digits represent my debt…a grand total of $55,122.21. Reality is that we have been working towards getting out of debt in some fashion since about 2006/2007. If we would have followed our original plan we would be completely debt free by now, including the home we owned at the time. Instead, we got off course and have bounced around the track since.
I believe we started out with 11-13 debts that included three credit cards, a vehicle, and student loans. We paid off the car and 2 of those credit cards over time, but accumulated more student loan debt, more credit card debt, and debt to complete our adoption. In the end they all resulted in good things, but the burden of that debt still remains.
After looking at that timeline (and already not being a person of patience) the remaining number has officially received an eviction notice. If we were just making the minimum payments on each debt, we would still have another 16 years to go. All my children will be gone from home by then, meaning we would have missed serious opportunities to enjoy our family life. I decided it was time for change, and I have been working on a plan and finding different tools to help me along the way.

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You should owe nothing to anyone, except that you will always owe love to each other. The person who loves others has done all that the law commands. “ Roman 13:8 Continue reading

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