Student loan debt – or just debt in general – is a hurdle that many Americans face. But just because it’s become the norm doesn’t mean that you have to live with it forever! While your loans can hold you back from financial freedom, working toward eliminating your debt is an investment well worth the time and effort for a brighter future on YOUR own terms. What would you sacrifice to be debt-free?
On today’s episode of The His & Her Money Show, we’ve got Marissa Lyda from The Budgeting Wife coming on to share her story of total debt elimination. She and her husband Jacob knew from the start that they didn’t want their $87,000 student loan debt to hold them back from doing the things they wanted and accomplishing their goals.
So they made sure it didn’t! After two and a half years of hard work and sacrifices, now that they’ve obliterated their debt once and for all, this smart money couple is totally committed to keeping their debt-free lifestyle as frugal and fun as possible. We can’t wait for you to hear all about it!
It was a short-term sacrifice for a long-term gain.
For Marissa and Jacob, the deciding moment was during college. It all started with Dave Ramsey’s Financial Peace University, a course they were both taking for extra credit – that was when they realized they had four student loans between them, and in order to have the life they were envisioning together in the future after school, they needed to take care of their debt as soon as possible. So they put themselves to work.
Smashing their debt was a priority, and they immediately started tackling their student loans. After they got married, Marissa and Jacob created a budget. Also, Marissa side hustled as a social media marketer.
And when their apartment rent shot up at the end of their lease, they even moved in with Marissa’s parents! It wasn’t easy, but by cutting costs, following Dave Ramsey’s Debt Snowball Method, and staying totally focused on their end goal, they cut their estimated debt-free journey time in half and are now living the good life!
Keep up with Marissa on her website! | TheBudgetingWife.com
What You Will Learn
- How to look to the future and stay focused
- Training yourself to stick to smart money habits
- The benefits of living debt-free, immediately and in the long run
- The positive impacts of surrounding yourself with support
Resources Mentioned
- Dave Ramsey’s Financial Peace University
- Total Money Makeover by Dave Ramsey
- The Magnolia Story by Chip and Joanna Gaines
Thanks For Listening!
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Today’s show was sponsored by Teach Me How To Budget. If you are ready to gain freedom in your finances once and for all then enroll in our brand new personal finance course Teach Me How To Budget.
