Some people try to find some well-known methods to solve their problems with debt, and some take an unorthodox approach. Acquiring assistance from your parents could be something other people may disapprove of. On the other hand, it could help boost morale, aid you in straightening out your finances, and help achieve your goal of a debt-free life.
Family support is the topic of our guests, Staphon and Sheley, on today’s episode of The His & Her Money Show. Listen to the podcast as they share with us a testament to a loving and supportive family, which helped them pay over $70,000 of their debt in as short as 29 months.
[bctt tweet=”The pros were so outweighing the cons that we didn’t even really notice it after a while.” username=”@HisandHerMoney”]
Staphon and Shelley started off taking Dave Ramsey’s Financial Peace class offered at their church, and as a result, they realized that they wanted to be debt-free. They wanted to accomplish this goal for themselves and to provide a better life for their future kids.
Taking their cue from some of their classmates, Staphon and Sheley took the bold measure of moving in with Sheley’s parents, to help them alleviate a huge part of their expenses. They also found discipline in setting a cash budget to help them keep the spending to a minimum.
Staphon and Sheley first started with a simple goal of eliminating some of their debts. However, as they progressing through the journey of saving money, they realized they can do more and evolved their plans to strive to create a completely debt-free life—and further towards being able to support their future kids through college.
What You Will Learn
- Why saving up early for college makes it easier than paying for student loans later on.
- How taking action on paying off your debt could improve your family dynamics.
- How getting into the mindset of paying your debt help you make wiser decisions.
- Their advice for people who want to pay off their debt but don’t know where to start.
Resources Mentioned
- The Total Money Makeover -by Dave Ramsey
- Retire Inspired – by Chris Hogan
- Dave Ramsey Podcast
- Love Your Life, Not Theirs – Rachel Cruze
Thanks For Listening!
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