Our 2 Year Debt Payoff Story [Baby Step 2]
Our 2 Year Debt Payoff Story [Baby Step 2]
Our 2 Year Debt Payoff Story [Baby Step 2]
Ready? I guess it was a good oneReady’s were gonna be excited we did it we did we are debt-free yay two years inthe obligating we’ve been waiting for this day I feellike it’s a bit anti-climatic a little I means that we paid it off onWednesday and we kind of waited for the zeros to affect the bank and they finallydid so it’s official now like so far a lot of snow we are paid off so can’twait for that box to come in so if I send you a casket and you pay off yourdebts but we’re gonna go through there’s been a ton of questions that we got onInstagram that we want to answer we’ll give you a little start to finish of ourentire debt free passage because I know there’s a great deal of new readers andthings like that there’s people if you are new to the channel my mention is Bradthis is my wonderful partner in crime my wife Tara and yeah we just paid off onehundred and eighty nine thousand dollars worth of debt that numeral is absurd andhe says it out loud I can’t even believe it and we did it in a little over twoyears and yes the crowd is really really bigand we you know there’s been some things that kind of cured that large numberalong that we definitely want to address in this video but yeah we we did it wedid it so I approximate the first issue and the issue that I is a lot is whatwas our aha moment what was our own drivel kind of moment that obligated us like theyhear from my perspective like how did it certainly start so I feel like for a littlewhile I had been trying to tell Brad like the list and the bank is goingdown like yes we make a lot of money but like we’re not like positive at the endof every month he’s like no no we’re fine like we procreate so much money likethere’s no way like we’re fine we’re fine I’m like we’re not fineit’s simple additive and subtraction Brad like at the end of every month likewe have less money than we did at the beginning of the month like this is aproblem and then eventually yeah I want yes she’s the natural saver and I was anatural spender and she’s exactly right I was like there’s we get so mad when wego to Target and he would try and buy a a bottle out of the stupid fridge by thecashier I’m like can you wait five seconds like we’re on the way out welive a half-a-mile life wait till we get home to have a drink of waterlike don’t need to buy a water bottle out at the Target thing and we wefinished up time disintegrate at the end of 2017 and I don’t know if we were gonnabuy something or something happened where I actually looked at the bank wellI remember we were sitting in the living room and I was like Tara we have like nomoney in the bank and she was like yeah like trying to tell you that and itwasn’t like we had no money in the bank and we didn’t have an income thing Ithink our major problem is we approximately made too much money we’re like Tarasaying I was like there’s no way we were able struggling with money I thoughtwe there’s no way that we’re overspending was his philosophy I had Ihad a small business we both had really good hassles you know side gyps tutoringI was like there’s no way and then I ultimately searched back at like six monthsprevious and we blew like 2030 K because we had money in there from mygrandmother’s inheritance and then and then our bridal disappear depart and I waslike oh my gosh and I’m all or nothing so once she flicked the switch for mefinally once I lastly figured it out I got in the Internet and I was like wegot to fix money and we met Dave Ramsey and “its like” literally twodays later I was like okay Tara so I’ve watched so then all of a sudden I wasn’tallowed to go Starbucks anymore I wasn’t allowed to go out with your best friend forlunch we couldn’t go out for breakfast like I like to do and there was no moregoing to to Lula’s to spend $150 on Wednesday I know I came at her and I waslike so I detected this chap Dave Ramsey I listened to every hour of every podcasthe’s ever realize like yeah we’re done expend we’re done and that’s kind oflike what knocked it off and luckily for us we did have some money in the bank weweren’t broke but we estimate like really the right time we really did and thiswas before we thought about kids yeah there’s also good timing yeah so it wasI mean I think we had just found out you were pregnant because this was 17 andshe was born January I found out we were pregnant in May right so this wasSeptember of seventeen so but I don’t think we didn’t make the decision to getrid of indebtedness because of the bee no no we we were various kinds of like we got thetime now is I imply plainly we thought about like the family aspect but weweren’t like we’ve got a baby on the way we need to get our finances well in apanic mode kind of thing at all yeah so I think we just right from jump-start we madeit that snowball like right in September I concluded the YouTube channel cuz I knewthat I was gonna have to hold myself accountable she was like what are youwhat do you do and you know we just we started chipping apart right off nowluckily cuz of that money in the bank we were able to pay off credit cards rightaway and we were able to start taking me amajor chunk I conclude like that first month that we started debt snowball weprobably cleared three to four thousand dollars on top of our minima which was3 5 50 so that first month we had like a seven thousand dollar debt reductionwhich was was really really it was a big deal yeah and we you know we just workedour backsides off we really we didn’t start nuts and rice certainly but wedefinitely became more self-conscious we started budgeting and having budgetmeetings right away we started having those tough discourses that couplesneed to have which we’re hard in the beginning but worth it yeah we we hadsome tough ones and I mull a marry epoch in the beginning where we wouldsit down and start having a conversation and like one of us would get heated andjust like okay we are not in the frame of mind to do this right now like weneed to walk away and now we’ve gotten better we’re like we know that either wecan have those discussions or it has to wait a day or two because sometimesyou’re just like not in the mood to talk about it yeah and we’re very good now atbeing like today’s not that it’s a good day it’s kind of like I believe one of uswill say hey it’s getting towards the end of the month what we got it we arelet’s try and sit down and and find out a term that we are emotionally ready andyeah we just started paying off debts when we got tax returns we put ittowards pays when we tutored and had extra money we settled it toward debt we wereally lived a zero-based budget at the end of every month we terminated out ourbudget and any extra money we paid off debt and that’s that’s really the thingthat I think was really successful was that consistency and us being able tocommunicate and then knowing that there were going to be some tough months therewere some months that we just paid the minimums even though we had some extrawe were just like we just need a terminate we need to get focused which kind oflike contributes me into the next question that somebody invites and one that you knowI’m sure that you’ve heard how did we stay precisely the idea of freeing up all ofthat money at the end of three or four years because when we first startedthat’s how long it was going to be it was gonna be three or four years rightum so only the idea of all that money freeing up and the possibilities of whatwe could do with it was really what helped to keep me caused like thethought that I can do whatever I require for Avery like I can ratify her up for anyactivity she craves and then eventually now Brody any activity he misses he cando like the possibilities of what we could do with that money once it freedup is really for me what maintained me motivated yeah Sam I think we did whatwe did a really good job of like obstructing an look on the finish line keeping an eyeon the pillage as my mommy used to say a lot of like yeah we’re in the struggle nowbut we’ll get there you know and I think too we didn’t need to independently stay1 00% motivated basically because we were doing this together we only neededto be 50 percent motivated at a time because when I was like eff this I’mquitting YouTube we’re going back towers like whoa whoa Steph off the ledge yeahand then when I would jump in and is just like I merely miss a brand-new duet of shoeshe’s like the shoes you have are five so ya know so we read effin Utley we arechecks and offsets plan and I said it goes back as massive because you’re bothgonna have like moments of defects and when one person’s weak you need theother person to be strong like that was really the huge point for us and we findit now if we both have weak moments you know we’ll find ourselves in a rut whereI become a yes-man like if I know that she’s struggling with something andshe’ll ask me hey can I buy this or can I get that and I’m kind of like thinkingabout her feelings and I say like sure go for it and then every once in a whileI’ll be like hey we have to get back to being able to say no to each other yeahwe start to slip in slope so if you find yourself being a yes-man with yourspouse like but that’s like you can’t just come out and when she says hey canI get Starbucks they’d be like you’ve gotten Starbucks all these occasions youknow that’s for like your budget meeting like hey this month we kind of slippedwe became yes adults with one another let’s really let’s focus back andlet’s get back on track of where we’ve been going yeah question I got what isone thing that we did that we never thought we’d do to save money orsomething now that we’re debt-free that we’ll probably never do again to spendto save money for me it’s him taking on a lot of DIY things so he’s super rad issuper helpful like he’s really good at house things he’s very good at goingon his favorite YouTube and figuring out for me like the timethat he devotes experimenting that trash and the time that he then expends tryingto fix or do whatever it is that he’s trying to do is not worth the money thatwe could just spend to have someone else do it for us so for me maybe less DIYthings just for the sake of time not because he can’t do it he can do it butI’d rather have him around and like some things emphatically he should do on hisown but there’s other things where I’m like alright enough so enough like canwe just call someone please yeah I fantasize I blew your sentiment we’re changing out thethe faucets in our lavatory and I’m like I guess what I call the plumber to do itit’s like jumping for delight at the bottom night wait what you called someone forme I think it was like you know wearing shoes a little bit too long or wearingunderwear a little bit too long not like unclean but like you know punctures and holesin the bottom my shoes like I exactly bought a new duo of Converse that Iprobably needed to buy a new pair a long time ago and I eventually did so I thinkit’s more freeing up things that we can spend money on now that are going toimprove our life where we were kind of struggling with quality of life versusspending a little bit yeah I have shoes that are falling apart more it might betime I did agree had to grab a baby child living you have back to the video soanother question we get asked all era is you know how do we deal with friendsfamily beings at work haters on the internet how do we are addressing that whenit comes to like our indebtednes free outing like you want to talk about like thefriends and family because you deal with that more so with friends and familywe’ve kind of learned that if people want to talk about it they’ll ask youand then we have no problem having that discussion with them and if it’ssomething that they don’t want to bring up or they just don’t want to talk aboutthen it’s not even worth it because it merely heads for awkwardness we’ve alsofound that contributing by sample is actually the most efficient way for us to go yeah I meanpeople emphatically respond better when they’re not being told what to do andpeople come and tell us we’re crazy and we various kinds of exactly try and smile a gesture likelike thanks for your feedback and you know thanks for your feedback runs aswell with like the internet we I we get we get some hot and parties you knowthere’s some times where you know parties hurt me and I read a lot of comments andeven though Tara’s not always in the camera like this we always talk aboutthings and there’s definitely parties out there but there’s one thing that I’verealized you obviously you can’t win an argument on the internet firstly andforemost and next is like we are so content we are so happy you know we havesuch a great baby really cute we have we have like such a good thing moving thateven when somebody like strikes a chord or initiations me a little bit weimmediately bringing ourselves back to us to the fin so the family and we knowthat anybody that says anything bad to us on the internet they’re not sittingdown to dinner with us you know they’re not the things that are reaching us happyin life and it’s gotta let go you gotta kind of gotta brush it off and I alwaysjust if you gape if you’ve ever seen any detest my response is always thank thankyou for the feedback you are familiar with because I’m not gonna is coming people want thatand it’s not worth my time you know thank you for the feedback another thingwe want to discuss is like what we really cut back on and for those of youthat have been around a while you know that we were always good like utilitiesis kind of like what it is we trimmed the rope so we definitely cut cable inFebruary do you miss cable no not even a littlebit yeah we we’re not big-hearted Tv watchers to begin with so it really like was anon-issue like we’d prefer to like select a depict on Netflix and watch one episodea nighttime for a few weeks or whatever the occasion may be like we’re not just enthusiastic TVwatchers so we have like we have the internet project and then we just getsubscriptions to things that we want to watch and even got a couple of 10 or 12 dollar subscriptions is less than we were so that’s like one thingand then the thing that we is fighting for months that was all over this YouTubechannel was our struggle with food and Tara like did most of the food shoppingso this was a constant argument because here I was trying to lower our foodcosts as much as humanly possible and I was arguing with Tara I was devoting toomuch money at the grocery store and I would try to tell him like I at leastI’m spending money at the food market I “re not” spending a week’s worth ofgroceries and one light out which is what we used to do so coming thatacross was tough yeah we started feeling like well I started feeling like Tarawas right that we were starting to live a life of deprivation with planning youhave to remember budgeting is not a life of deprivation so all we needed to doand this really determined it when we wanted to devote more coin on nutrient we justtalked about it yeah we just agreed on small jump-starts fifty dollars more a weekhere until we found something that was great for us and now if anything in twoyears our grocery fund has gone up yeah because men today’ terribly is actuallyeating now so I by way more return than I be applicable to we buy soy milk every week whichwe never be applicable to do so right away that amounts to what like a measly 50 bucks amonth which really isn’t like the end of the world but it’s still 50 dollars morethan we were spending before it was something we had to a lot for and wefind value in nutrient we we love to cook quality of foods I do not like tocompromise I’m the type of person that’s gonna buy organic strawberries even ifthey’re not on sale time because that’s what’s important to me like state isimportant to us and the quality of menu that we buy is also important to us sothat is something that we have preferred to deplete our fund on the next questionthat I got was if we cashed out any mutual funds or any speculations to helppush that debt total along and I’ll give you kind of an idea of some major thingsthat we did besides like tax returns which we really we had good one we hadmy father’s inheritance which was a 61 thousand dollar student lend fee andyou know that was went back to one of those heats there was a lot of peoplethat like said my debt free pilgrimage was easier or that we got lucky and like I’mnot gonna go too far into it but the people that know that that wasn’t luckand you know we could have blown that fund on other things so that was a bigone we sold a house in the process – whichgot us some uppercase advantages which definitely helpedwe both got develops at work so there was some major things but right at the endwe did week we cashed out our brokerage account “weve had” fifteen thousand dollarsin there and it was something that we went back and forth it was aconversation that we needed to have because our middlemen account wasdefinitely raising us more money than we were paying an interest yes and itwas something we were back and forth it was fifteen thousand dollars but I thinkat the end of the day it was the peace of mind of not having the debt it wasn’tabout the capital amplifications return it wasn’t about the bonus it was about gettingrid of the debt and we “ve made a decision” right at the end to get rid of ourbrokerage account but that said we didn’t we didn’t we didn’t go intoretirement savings and I would never recommend that but certainly when itcomes to brokerage notes or furnishes or financings it might be something thatpeople want to consider but it’s really a peace of mind thing and we neverspeculated gratitude on our capitals and that’s a reason why we didn’tbecause it ought to have been sucked if christmastime the stock market took alittle trough and we weren’t up with asset advantages we sell hot pay like thatwouldn’t have seat well with us who was it was more of a peace of mind for us touse that 15,000 take a loss on possible asset incomes get rid of the debt andthen work on building those investments back and we did also wait until afterthe child was born because we wanted to make sure that he was okay that I wasokay so like taking into account any kind of large-hearted live phenomena that might behappening is also pretty important yeah that’s really that’s how we got throughwe communicated a great deal we planned a great deal we took we made the good with the badyeah you are familiar with and we just tried to you the content that I ever try andportray we ever stayed positive even when it was crappy even if it was justone of us at a time maybe yeah we we work really hardtaras tutoring even now I’m attorney leave area ventures selling things onebay we did all the things that you hear that beings should do and yeah we justwe just we ever team we were a really good team and various kinds of makes into what’swhat’s next for us now that weird I dad hi I used to think that debt-freewas the finish line it’s it’s the starting line it’s like we’re so excitedbecause there’s just so many things you can do now it’s incredible like beforeit was like you exclusively had one alternative like every month or whatever coin you hadwas going to debt and now it’s like we got paid yesterday and all that moneyit was our hours and it’s now the choices are linen I think I think ingeneral and this is once again and gonna become a new formation of communications forus yeah we have time because like I said there’s so many alternatives we have theoptions of developing our taxation deferred retirement savings account our 403 b our 401 k weeach have a 457 and a 403 B so we have four alternatives there 19000 a piece we havethe option of our Roth IRA but then there’s other things we definitely wantto spend money on the current house we’re living in some ameliorates now thatwe kind of been fighting through a subpar dishwasher moistening machine oventhat you know we might start to start some sinking fund and try and fix sosome of our savings might go to that I kind of want to spend some coin on ourfamily because they’ve really take better care us the last couple years like justlove you know like they watch the boys like my father watches my lad and waswatching Avery for a while so I know I kind of want to spoil them a little bitbecause now we can yeah we said no to a lot of things a lot of trip there’sa lot of weekend’s out like said we “ve got a lot” of the cliche things that you hearthat you should be doing and yeah we definitely want to go back and pay itforward and like start to reintroduce ourselves back of course but now nowwe’re awareness about our spending now we have a bunch of marries and Iremember having fun the thought of having five bridals in a year two yearsago was monumentally stressful but now we know that we can save money for itand we know that we are able to consciously criticize that with sinking funds and it’sgonna be okay it’s gonna be fine not annoyed at all and to like opinion forpeople know that your life is gonna change like as I said the beginningwhen we started to get debt-free our priorities for coming debt-free werejust to free up money for ourselves and now we’re learn things with two kidstwo years later like we wouldn’t be able to afford daycare for both of them atthe quality at the quality daycare we have and that’s something we didn’t wedidn’t sit down say hey let’s get along with Dave Ramsey so in two years we’ll have2 600 dollars to pay for daycare but that’s just a simple example of howgetting out of debt release up coin for our pedigree now and freed up coin forthings that we never thought that we’d ever consider I convey another thingthat’s next for us we’re really going to start to look into seriously consideringreal estate investing you know with some rentals and stuff and two years ago wenever would have said hey let’s pick up a marry rental owneds two years ago we were saying how do weafford our mortgage remittances right now so I repute I’ve said thank you a milliontimes and we are not able have done this without like the accountability factorthat goes into YouTube and social media and it’s beeping him caused cuz he’seither zero or 100 and you guys have obstructed him at a hundred for me so Iappreciate that and know that like I said Terra’s not always here in front ofthe camera but she is an active part of this journey as well and she’s an activepart of the community she cures me respond to comments and things and ifyou ever have a female question for her reach out on instagram mummy fin fitnessI take her and all my instagrams you know reach out to her mom questionsfrugal mummy gratuities know that she’s it’s not just me now I’m here jail it’s a littlemore behind the scenes but now I am do you want to do the outro you watch myvideos do you know the outro I’m gonna mess it up now cuz you placed me on spotI’m apprehensive until we told you on the next one people remain positive be happy that’spositive oh oh I know start over let me start oh I would there is a requirement to dothis and then extra on until we see you guys on the next one stand positivework really really hard and always recollect to be kind toI hope you have yourself an amazing daylight and even better tomorrow hi guysnow we need I it is necessary made him down we just need that I’m gonna cry Wow andthen you can do the intro in the next sequence and then I’ll exactly extra thing I’ll get the extra we’ll get the extradone but you can say shit okay and figuring it out was bring us more moneyyou’re sting your lip it’s really not
Our 2 Year Debt Payoff Story [Baby Step 2]
Our 2 Year Debt Payoff Story [Baby Step 2]
Our 2 Year Debt Payoff Story [Baby Step 2]
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Our 2 Year Debt Payoff Story [Baby Step 2]