If you’re new around here, welcome to Make Real Cents! To give you a quick overview, I started this blog as a way to document my debt free journey and to teach others all about the do’s and don’ts of personal finance. And even though I’m still working on paying down my own debt, there are plenty of other people that have successfully accomplished what I’m trying to do which is to be debt free. I, for one, think there’s a lot to be learned from people that have been where you are and have done what you are trying to do. So without further ado, I hope you enjoy the first ever, debt-free interview for the blog.
Tell us a little bit about yourself
Hi, I’m Priscilla. I’m 32 yrs. old and I’m originally from New Jersey, but I’m currently stationed in Fayetteville, Arkansas with the United States Navy.
Give us all the who, what, when, where, why Details!
I started my Dave Ramsey baby steps in January of 2017 after listening to the audio version of The Total Money Makeover. My “sick and tired” moment happened when I was left alone in a newly purchased 4br/2ba house after a serious relationship break-up. Around the same time, my Jeep transmission went out and there were major plumbing issues with the home. Let’s just say, not only was my heart broken but so was my bank account. I was sick and tired of being sick and tired and I knew something had to change! My starting debt was $36,266. This consisted of an IRS bill, 5 credit cards, & 4 loans(personal, boat, motorcycle, Jeep).
What was the first thing you did to start turning your situation around?
The very first thing I did to start my journey was listen to the audiobook: The Total Money Makeover and immediately enrolled in Financial Peace University. These just may be the 2 best decisions I ever made for myself!
How long did your journey take?
I committed to Dave Ramsey’s baby steps in January of 2017 and started Baby Step 2 in March (2017). It took me a total of 12.5 months to become debt free and complete BS2! I paid off $36,266 and I officially became debt free on March 14, 2018.
What were some of the things/steps you took that helped you on your journey(cut back on cable, getting on a budget, etc)?
I stuck with to a zero-based budget! I also used the cash envelope system very early on in BS2. These 2 items were key for me being so successful. I was able to speed the process up by cutting unnecessary expenses out of my budget from the start, like my gym membership and all my subscriptions. During my journey, I made the decision to not only sell items around my home but also sell bigger items like the boat and the motorcycle to pay off debt even faster. I also picked up some “side hustle” jobs to bring more income in. All in all, I worked with; Uber, Lyft, Favor, Easy Shift and Field Agent.
What was the hardest part about the journey?
I would say the hardest part about the journey was staying in on most weekends by myself. I said “NO” to a lot of friends during my debt free journey. You just have to remind yourself and them that it’s all only temporary. Your friends will eventually understand your sacrifices and goals.
What was the biggest lesson you learned from all this?
My biggest take away from this journey is learning to experience delayed gratification. The old me was very impulsive even when it came to expensive purchases. This journey has been a real game-changer in a sense that if it isn’t in the budget then I most likely don’t need it at the moment. And if it’s something I really want then I have to save for it. The delayed gratification makes it well worth it.
What kept you motivated?
What kept me motivated the most was the #thedebtfreecommunity on Instagram. I made an account strictly for holding myself accountable and discovered so many others were on the same journey as me. These people immediately were relatable and we just clicked. We all motivate each other even share the good and the bad during this challenging journey. I really have them to thank for pushing me so hard to the finish line.
What’s next?
Next up is completing Baby Step 3 of course! Being debt free feels amazing, but I’m looking forward to having that peace of mind with the Fully Funded Emergency Fund. I’m also planning a trip to Ireland with my family this summer… Talk about delayed gratification!
Any Advice For Someone Looking To Start Or For People Currently On The Journey?
My advice to anyone on this debt-free journey is to stick with the plan because IT WORKS! Create an account on Instagram and start connecting with like-minded people. You will not be disappointed!
You can continue to follow Priscilla’s journey on IG @ready_set_outta_debt
Post Interview Update: Priscilla has now completed Baby Step 3 🙂
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Inara says
How awesome is this! It is incredible to read these stories and know that we can financially feel and be sound. No one can tell us otherwise! Congratulations!