![]() Liz had taken out $150K in small business loans, which were personally guaranteed (which meant she herself was on the hook for them) and the stress weighed heavy. Liz and her husband didn’t make an excessive amount of money but through consistent budgeting, they were able to pay off over $180K in just five years. We Paid Off $180,000 in Five Years and We Didn’t Live on Breadcrumbs Read her whole story (it is SO worth it and she’s a gem of a writer). With just one remaining goal left and money blasting to pay it off, Krys will have her final debt paid off by Spring of 2021. Remember when she said money used to hurt? Krys’ net worth report from Nov 2019-Dec 2020: blue shows assets, orange shows debt Crossed off SEVEN of her eight initial goals.By month two she had paid off $3,000.Īfter a year of budgeting (and not just ANY year, this was during the dumpster fire that shall be forever known as 2020), she had: Pay off the home equity line of credit (HELOC ) that they took on to replace their window.Īfter the first month using a YNAB budget, she had saved $1,500 and crossed off the first three items on her list.Be a month ahead (live on last month’s income).Start contributing to sinking funds for known expenses.She had a list of eight goals she set out to complete: Harrumph.”Īnd this pain brought her to start a budget. My head hurt, my heart hurt, my guts hurt. Well that feeling? THAT is what I felt when I scrutinized our finances. “Have you ever been slapped in the face, hard? You hear your heartbeat in your ears, as blood rushes to deliver the adrenaline to every inch of your body. My Financial Life Used to Hurt (It Really Hurt!)Īt the end of 2019, Krys was nearly $20,000 in debt, with a balance that just kept growing. Here are real stories of people that made it to the other side to bring you a nudge of hope, inspiration, motivation, and stick-to-it-ness in your own money journey. When you’re in the middle of wrangling your finances into shape, sometimes an inspirational money story (or nine) is just the boost you didn’t know you needed.
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