Monday, February 2, 2009

DEBT FREE!

Praise be to God!

I am so happy to be able to finally write that after 11 months and a little over $16k in debt paid, we are DEBT FREE! From where we were financially to where we are now, so many things have changed. When we started our Total Money Makeover at the beginning of last year, we were just barely making it each month. Our income had decreased but our credit card bill was growing at what seemed to be an uncontrollable rate. There were some months, we had less than $20 in our checking account after the bills had been paid. Then in December 2007, this princess finally awoke from her fantasy world. I had long held onto the belief that we were doing fine because unlike most we knew, we had no student loans hanging over our heads, no outstanding credit card debt, we paid our credit card bill off in full each month and had phenomenal credit scores. But my castle built on plastic came crumbling down when December's credit card bill came in at over $1000. And there was no money to pay it off in full. About that time, I started watching Dave Ramsey on Fox Business Network and liked what I heard - FREEDOM. Not get rich quick, but peace built on a solid foundation. I used a gift card I received as a secret Santa gift at work and bought a copy of Total Money Makeover. And as the saying goes, the rest is history!

Many years before we had even heard of Dave Ramsey, my husband tried to implement many of the things the Total Money Makeover teaches - living on a budget, cash envelopes, paying extra on debt and NO credit cards. I told him it was absolutely not feasible to live without a credit card in this world. How would we buy gas for our cars? How would we book a hotel room or rent a car (which we did very little of at the time)? What if there was an emergency? And I told him I was absolutely not giving up my Old Navy card! After that discussion (read argument), I heard this small voice speak to my heart. And it said clearly, "You place more faith in this card than you do Me". I knew the voice. And it's conviction cut deep. And sadly at that time, I chose to ignore it.

But in January 2008, I began working with my husband to finally implement those things we should have done before. And even though our income had decreased, miraculously our money seemed to multiple. It went further than it had before. And there was extra at the end of the month to do something we hadn't done in awhile, pay off debt! I firmly believe that once we started handling our finances in accordance to God's will for us, He touched it, blessed it and multiplied it much like He did with the fish and the loaves!

Thank you God for your provisions! And thank you for a loving and patient husband!

7 comments:

Corey~living and loving said...

I am doing a really fancy happy dance for you right now, Mary Ellen! :)

Still Learning said...

I'm so happy for you guys!!
Oh, how wonderful that must surely feel.

Tiffany said...

That's SO wonderful, Mary Ellen! Way to go!

Holly said...

You don't know me, but I love reading your blog. Congratulations!

Rona's Home Page said...

What a beautiful tribute to our Heavenly Father, marriage and Valentine's Day!
I felt my eyes swelling up!
I've been speaking with my hubby about living within our means. And even though we get free rent, pay no utilities, we have bearly no savings.
This is going to be the year that we work together to built something together!
Thank you for being an inspiration.

Maddy said...

Congrats to you!!

I enjoy your blog!

Clippergirl56 said...

Congratulations on being Debt Free. I hope you called Dave to give your Debt Free yell. My husband I are currently doing the Total Money Makeover. We have about another year or so and then our only debt will be our home.