Commit. Plan. Take action.
You’re on a mission.
You’ve searched your house from top to bottom, closet to garage, storage box to storage shed. You pulled out everything that you wouldn’t mind parting with so that you could make some extra money.
You’re motivated to declutter and simplify your finances… and your stuff.
[Read more…]
Today I have the honor to share with you the debt free journey of one of my closest friends!
Alice and I met during our sophomore year in college back in the year 2000.
Even back then I saw how determined and focused Alice was when she set her mind on accomplishing a goal.
I am so excited to share with you how she and her husband paid off almost $200,000 of student loans in less than 7 years!
In this interview, Alice shares why they worked so hard to pay off their student loan debt and how they remained focused on their goal for so long.
Here is the interview:
ME: Thank you for sharing your story with Our Debt Free Family! Please introduce yourself so our readers can get to know you.
My name is Alice, and I’m 33 years old. I’m happily married to my best friend, Scott. We have one son, and we just celebrated his first birthday. We live in Oregon.
ME: Thanks, Alice! What made you decide to focus on becoming debt free?
I came from a poor upbringing, and my family never taught me how to manage my finances.
During college I opened up a credit card and ended up with about $10,000 in credit card debt. The only way I could pay the minimum balance was by doing cash advances from that same credit card. It was the most awful feeling in the world, and I felt like I didn’t have any control over my life.
Fortunately, after my first summer internship in grad school, I was able to pay off that debt. I never wanted to put myself in that situation again.
The only debt I felt was justified were school loans and a mortgage. I didn’t initially plan to pay off my school loans so quickly. However, when I found out that my husband and I were unable to write off the interest on our school loans for taxes, we made it our goal to pay them off quickly.
We also wanted to make sure we were debt free (besides our mortgage) by the time we had kids. 
ME: How much debt did you pay off, and how long did it take you?
Our student loans totaled about $200,000, and we paid them off in about 6.5 years.
ME: That’s awesome! What did you do for work while you were paying off your debt and about how much did you earn during that time?
My husband and I are both pharmacists. Our total annual income is over $100,000.
ME: What sacrifices did you make to reach your goal?
I don’t feel like we really made any sacrifices. I never had much growing up, and I’ve kept that mentality to live a more minimalistic lifestyle. We never felt the need to buy luxuries like expensive cars, jewelry, or electronics.
ME: What are your best money-saving tips?
Max out your retirement if you can.
In addition to that, automatically put a percentage of your paycheck into a separate account that you know you won’t touch so you never see that money to begin with. Then you won’t have the urge to spend it, and you can use it for your next financial goal.
ME: That’s a smart strategy! What would you say to someone considering starting their own debt free journey?
The journey is tough, but once you’re debt free, the feeling is so rewarding – this huge weight is lifted. Also, when you get your paycheck, that money is truly yours.
ME: Mike and I can’t wait to experience that feeling! Have you made any big purchases with cash? If so, how long did it take you to save for those items?
We saved for about half a year for the car. For our vacations, it usually just took us a few months to save. For our wedding, we saved for about half a year. For our down payment for our house, it took us about two years to save.
ME: Amazing! You did all of that while you were paying off your debt! What has been the best part about your debt free journey?
Both my husband and I have the same mindset when it comes to finances, which has made our journey so much easier.
We never felt like we weren’t able to enjoy what we loved doing, which was to travel. To ensure we were still able to do that and pay off our debt simultaneously, we just reprioritized where our money went.
You can be frugal and still have fun.
I want to thank Alice and Scott for agreeing to share their story with us.
While they are both pharmacists and they earn a healthy living now, that wasn’t always the case.
Alice and I spoke after the interview, and she agreed to let me share a little more about her story.
She mentioned her poor upbringing, but Alice had more challenges during her childhood than her family’s financial situation.
When she was little, she was part of a family of five that included her grandma, her younger brother, and her parents. Her dad was the sole income-producer for the family, working as a cook at a Chinese restaurant.
Her mother never worked because she had mental disabilities so Alice took on the cooking and the cleaning for the family.
When her mother’s disabilities grew worse, she became violent, and eventually, Alice’s little brother and her grandma moved to live with her uncle in another state.
Alice decided to stay with her parents and lied to avoid being placed in foster care. Her dad tried to escape from the problems at home and developed a gambling addiction, losing most of the little money that he earned for the family.
Alice started bussing tables at the age of 14 because she constantly feared that she and her parents would be out on the street at any moment.
Throughout all this, she clung to the idea that if she worked hard in school, she could create a better life for herself and her family.
She earned straight As in high school and college and put herself through graduate school (where she met Scott) so that she could provide financial stability for her own family one day.
So this is more than just a story of how two pharmacists paid off their student loans.
This is a story of how Alice chose to overcome the challenges in her childhood through consistent focus, determination, and hard work, and now, she and Scott are well on their way to achieving true financial freedom.
If you are struggling with your student loans, know that there are options available to help you out. One thing that a lot of people with large debts often don’t consider is balancing their payoff planning with refinancing. If you do owe a ton, consider going with an outfit like Social Finance (SoFi) and refinancing. If you owe more than 10% interest it might be worth your time. Click the link here or go with the banner below to contact them.
If you have federal student loans, you can look into income-driven repayment plans that can limit your monthly payments to a percentage of your income. If you have a good job and credit score, you may be eligible for student loan refinancing. In this case, a lender will pay off your old loans and issue you a new one with either a lower interest rate or lower monthly payment. To learn more about refinancing, check out this resource.
For more of our great articles, consider reading these:
How To Pay Off Debt When You’re Behind On Your Bills
How Lauren Greutman, The Recovering Spender, Paid Off $40,000 of Debt
Learn About How Ron and Thu Paid Off 137,000 in 7 Years
Easily Save Money With Paribus
Frustrated With Great Lakes
Walmart Savings Catcher Phone Number
You hosted a successful garage sale.
With only a day or two of work, you made some quick cash that you can use to pay off your debt or work toward your next financial goal.
Awesome!
But what now?
[Read more…]
Each month I bring you a recap of the previous month’s progress on paying off our debt.
This serves two purposes — to keep my husband Mike and me accountable to our financial goals and to give you a look behind the scenes of our strategy for paying off our debt.
[Read more…]
It’s that time of year again!
The weather’s getting warmer, the kids will be out of school soon (if they’re not already), and garage sales are popping up in every neighborhood.
[Read more…]
Recycling (or upcycling) items and thrift shopping are two of my favorite ways to save money. A lot of the time, you wind up finding items just as good or better as what you would’ve found at your traditional retailers for half the price (or less). Earth Day has me thinking a bit about my own recycling and thrifting and how it’s save me money.
Today, April 22, is Earth Day. If you don’t already know the origins of Earth Day, April 22, 1970 was the beginning of the environmental movement. In the decades leading up to the first annual Earth Day in 1970, Americans were largely uninformed about the issues facing the Earth’s environment.
In 1969, the entire country witnessed a huge oil spoil in Santa Barbara. That prompted politicians and more people to back what was initially considered to be a “hippie movement.” The junior senator for the state of Wisconsin at the time was Senator Gaylord Nelson. He took students who were protesting wars and, well, anything they didn’t agree with and put their energy towards educating themselves about the environment.
The national potential for the program was recognized and there were 85 events put on across the country. Nearly 20 million Americans banded together to protest against the effects of global warming and other environmental factors. In 1970, it brought together Republicans, Democrats, and everyone in between. That’s something we hardly ever see anymore. While people from across the aisle aren’t banding together this Earth Day, there are still plenty of ways observing the holiday and what it teaches can benefit you in your everyday life.
One of the ways being more conscious about my carbon footprint has benefited me financially is through recycling and thrifting. If something can be used again, I use it. Similarly, if I can get something secondhand and it works, I’ll take it. Here are some prime examples…
Jars at the grocery store can be easily recycled for different things around the house. Clean them out and use them to store small things like popcorn kernels, your own homemade tomato sauces, or seasonings. I have also reused old wine bottle to create bird feeders and terrariums instead of purchasing something expensive from the store. One of the big ones that has saved me quite a bit of money is cutting up old shirts to use as cleaning rags around the house.
That brings me to thrifting. You can decrease your impact on the environment by shopping secondhand or taking used items. Instead of these things going into a landfill, they are used for the entirety of the item’s life. I have thrifted most of my clothing for years. I’m doing the same with our daughter’s clothes. We have gotten bags and bags of clothing to last until she’s about 2 years old. Of course, we will have to purchase a few items, but not much. Once we are done using them, they’ll go to another family until they can’t be used anymore.
Obviously, these things have saved me some money over the years. When it comes to clothes for my little one, we’ve probably already saved hundreds by accepting hand-me-downs. Recycling items may not save me as much, but it greatly reduces how much I’m dumping out.
What about you? Do you try to recycle or thrift items?
I’ve opened up a bit about my postpartum anxiety here on the blog recently. If we are being honest, anxiety is something I’ve dealt with most of my life. I’ve done well to find healthy coping mechanisms and avoid triggers, for the most part. One huge stressor for me every year is tax season. Like general anxiety and PPA, I wasn’t surprised to find out I’m not alone in this.
Without the COVID-19 pandemic and the financial stress is has brought many people, tax time is generally a season of anxiety for many Americans. If the words “taxes,” “tax season,” or related terms make your heart race, you are probably among them.
More than half of the United States population worries about their finances on a weekly basis. When it comes to taxes, I’m one of the people biting their nails. I wait until the last minute because I’m afraid I’ll owe and I’m afraid I’ll do something wrong. A few years ago, I wound up having my wages garnished for several months because I miscalculated. Since then, I’ve had some pretty intense tax anxiety.
Also, with more people working as freelancers (myself included), taxes can start to get a little hairy. If you don’t have a cushion in your bank account or no plan in place, things can start to spiral. That’s where my brain starts to spiral too.
Unfortunately, the saying goes that there are only two things certain in life: death and taxes. So, I can’t avoid this anxiety trigger like I can with other things. I can try to make it easier on myself though. Here are a few things I’d recommend if you’re also dealing with tax anxiety.
Last but not least, breathe. It is going to be alright!
An overwhelming majority of Americans prefer living in homes that are surrounded by beautiful yards and gardens. The sheer beauty of lawns as the summer season sets in is a sight 90% of Americans would prefer to wake up to daily
Any family can landscape on a budget and still have a beautiful lawn. Using a combination of patios, plants, waterscapes and window boxes, you can design a yard worthy of the neighbors’ envy without breaking the bank. Here are 5 tips for landscaping on a budget.
A tree sprouting from under your well-manicured lawn could take the beauty of your home to another level altogether. When placed in a strategic area of your lawn, the tree sapling you plant today could grow into a massive tree. Within no time, you could have hundreds of trees growing on your lawn, of course, depending on how large it is.
This should be your contribution to increasing the tree cover in the USA, which, according to the U.S. Forest Service, increased by 119 percent hardwood trees in 2007 over the 1953 statistics for the same. This is a 2.00 growth-to-removal ratio.
If you decide to later sell your home, this could be the one thing most buyers would find irresistible, and that can only be good for the value of your house. And the good thing is that tree saplings are not expensive. You can get one for half to a dollar-and-a-half.
You do not have to be overly worried about where to get money to landscape your lawn. Use those rocks you collected from your rockhounding excursions to edge your lawn.
Edging tells your lawn how far to go, giving it a patterned look that is simply beautiful. The key is to use what you have to enhance your lawn, and if you look around keenly, there are enough materials you can put to great use. These include ballast, logs, concrete, recyclable items, concrete, wood and bricks. You could also add edging to keep the mulch where it’s supposed to be (in your flower, shrubs and tree beds) and to prevent erosion besides making your lawn stand out.
Your yard may look beautiful during the day as the sun’s rays cast their bright hues onto it. It could look even more breathtaking at night with string lights that you can buy cheaply. Let the soft, ambient glow of these lights turn your deck into a beautiful summer hangout.
Depending on your budget, you can choose between white twinkle lights that retail at around six dollars per strand or the clear globe light that costs about $9. The latter is more durable than twinkle lights. They give your patio a modern look that’s hard to ignore.
Consider using vinyl-glazed window enclosures to add character to your deck or porch, or even the sunroom. For adequate ventilation in at least 75% of your enclosures, use vertical four-track or side slider horizontal panels that could provide ventilation to between 50% and 100% of your enclosures.
If you are not a fan of DIY projects, consider hiring a landscaping professional who does this type of work on a regular basis. Landscaping requires meticulous planning and keen attention to detail.
While you can easily carry out some landscaping tasks by yourself, or with a little help from family, hiring a professional removes the guesswork, especially for more complex landscaping projects. The good thing is that there are budget-friendly landscaping professionals you can hire, even on a shoestring budget.
You do not have to raid your bank account to landscape your garden or lawn. Even with a limited budget, you can have a lawn that people would marvel at. Just a bit of ingenuity and creativity here and there will bring your lawn or garden to life, even at night when string lights literally light up your lawn. Or perhaps you should leave the entire task to a budget landscaping professional. You will be surprised how far what you think is too little can go.
In America, about 90 percent of people usually get married before they clock 50. With several options, getting married can be confusing especially if you have a lean purse. Backyard weddings are becoming increasingly popular, and in this article, we will explore how you can save money on your dream backyard wedding.
Begin your backyard wedding venue by selecting a place that has an atmosphere you love or has meaning to you. This space could be your fiance’s cottage by the sea, your grandmother’s garden, or even your backyard. Take a stroll around the space and determine if it fits the bill. You need to be certain the wedding venue has enough weather cover as you need to factor in inclement weather. In addition to this, you need to find out if there is an ideal space for dancing, parking space, and washroom facilities. Once this has been confirmed, you can work on the smaller details, such as organizing a DJ for the music and purchasing suitable plastic traffic barriers to ensure the parking is clearly marked and your guests are kept safe.
The food choice for your wedding ceremony can be confusing, especially with the multiple choices available. You could tinker with several food ideas, especially considering a backyard family wedding. You could try rustic comfort food, BBQ and sliders, warm food, picnic spreads, and cheese boards. The best part of the menus mentioned above is that they are affordable and easy to prepare yourself.
Getting married outdoors means you should look as beautiful and blended with nature as possible. Summer weddings require wearing something casual and cool, and you may want to wear some extra clothing when it is winter. Although weather should play a huge role in what you wear, it shouldn’t discourage you from wearing the wedding attire of your dreams. Over 40% of buyers didn’t believe they would regret what they bought, but they did so. In comparison, about 30% of people had opinions before buying but regretted their buying decision.
After choosing the space you want to use for your backyard wedding, the next thing would be to figure out the decoration details. Consider centerpieces for tables, strands of old-fashioned outdoor lights, and chair decorations. The cool thing about these items is that they are affordable to buy and easy to make. Consider asking your family and friends if you can borrow items from them and, as such, save money while you give them a chance to contribute to your big day.
For the ceremony proper, you should give your guests seating options. You could borrow or rent chairs and have them lined up in rows so that they will have something comfortable to sit on in your ceremony. If the party lasts longer than dusk, you should consider lighting options to help your guests better enjoy the night. A unique landscaping option for decorating your venue is natural flagstone which could be broken up into layers and used for decoration.
Depending on what time of the year you are getting married, you should be able to plan the perfect backyard wedding in little time for less. For instance, you could consider using basic seeding and trimming to make your yard look perfect in springtime. But if you have enough time at your disposal, you could try out a few tips. First, have a designated space for an alter and select a dance space. Additionally, you could get your lawn greened up a bit and plant flowers around it.
The wedding of your dreams shouldn’t cost you an arm and a leg if you know what you are doing. Backyard weddings are the perfect choice for anyone planning a family wedding on a budget, especially if it is properly done.
I’ve been battling some anxiety more recently and it made me realize I needed to minimize some of the things in my life. A lot of the time, I started to feel crowded in my space and cleaning it out can relieve anxious feelings. It can also help improve focus and, for me, it makes it easier to take care of myself and my family. So, I decided to come up with a declutter challenge for the months of April and May to minimize the stress (and clutter) in my home.
Before diving into the declutter challenge I’d love for you to join me in, I have a confession to make. I’m guilty of throwing too much stuff away. Sometimes, if it is causing me any stress or anxiety being where it is, it gets thrown away. I’m also not going to spend a ton of time cleaning anything. Take deeply soiled baby onesies. If it is bad enough, they get thrown away folks.
I’ve thrown a lot of other stuff away over the years for convenience sake or to reduce anxiety. Sometimes it is just easier to toss it rather than stress over fixing it, cleaning it, or just keeping it in my space. If there is a space that is too cluttered, my anxiety will tell me to turn around and do something else. After six months of baby clothes have piled up and Amazon boxes crowd the garage. So, it is time to mindfully declutter every room in the house over the next several weekends.
Obviously, tossing everything out isn’t a healthy coping mechanism. In the past, I’ve accidentally thrown away important paperwork and items I needed later, causing myself more stress and trouble in the long-run. Not to mention, it can be wasteful if it can truly still be used. So, I decided to embark on a more mindful declutter challenge. We will be starting with my kitchen and the living space this weekend. The pantry, cabinets, drawers, everything is going to get looked at and cleaned out.
Instead of throwing everything out, I’ll donate what I can and ask friends if they have a use for any items. For example, when I go to clean out my pantry this weekend, I’ll take inventory of the canned goods and things that are unopened (and not expired). If there are items that have been in there for a while unused, I’ll either plan a meal with it soon or donate it to a local food bank. Where clothing is concerned, we will save some old t-shirts for rags. Everything else that we haven’t worn in the last year or isn’t special (like my wedding dress) is getting donated.
Here is a look at my declutter challenge schedule! Join me in freeing up your space this spring!
