On today’s episode of The His & Her Money Show, Anthony and Jhanilka Hartzog tell us of their journey of paying off a tremendous amount of debt. Born and raised in Brooklyn New York, they moved to Dallas 3 years ago. After knowing each other for 16 years, actually living in the same building for all that time, they decided to get married and tied the not in May 2016.
They jumped into their financial journey in January 2017. Their goal was to travel more and to save more. Within 23 months they had paid off an astounding $114,151 which was comprised of credit cards, student loans, and a brand new car.
They Made A Decision
One of the biggest factors that made them come to a decision to pay off their consumer debt was when Jhanilka read a book by author Dave Ramsey. In January 2017 Anthony started listening to podcasts with testimonies of people paying off their debt and saving money.
Jhanilka was not ‘into it’ immediately but within 6 weeks she got on board. She decided that even though she was willing to make a lot of other sacrifices to get out of debt, she was not going to compromise on her traveling. Anthony decided that he could compromise on his sneaker collection by not buying sneakers until their debt was paid off. Their flexibility with each other’s desire was a key component of their success.
Extra Jobs and Budgeting
Once they had made the decision, both of them got extra jobs and this income was reserved to pay off the consumer debt. Together they started a cleaning business and Jhanilka started her own private practice as a therapist. They decided to not go the ‘eat beans and rice’ route and included restaurant/entertainment as a line item in their budget.
They both realized if they increased their income, they wouldn’t have to compromise so much. The budget really helped Jhanilka to stay on track as she visually saw the debt become less and less. Because they placed their journey on Twitter and Facebook they were kept accountable because it was out there for all to see.
Relationships
Their friends and family encouraged them on their journey. They stayed connected by going on dates, doing the budget together, and having fun. They kept the balance with spending time apart, making time for cozying up together on a Friday night and keeping the lines of communication open.
Jhanilka realized that discipline works and that she could to trust in her husband’s vision. Anthony was impressed with his wife’s determination and focus on their goals.
All Paid Up
They strategically made sure that the balance was zero before Jhanilka’s 30th birthday because they had 20 friends and family coming over for the party. With both their fingers on the enter key, they sent the last payment and celebrated with champagne. Today they travel when they want to and get to save more of their income. It’s very exciting and fun for both of them.
They have already saved for a six-month emergency fund. Their next goal is to start a baby account and buying a home. All the while traveling to the Maldives and other exotic locations because they can.
Get in touch with Anthony and Jhanilka at MrDeleteTheDebt.com and on Instagram #thehartrimony
WHAT YOU WILL LEARN IN THIS EPISODE
- When you set a goal, you can reach it
- To compromise or not to comprise
- What another job could do for you
- Starting a business doesn’t have to cost a ton
- How newlyweds can punch debt in the face
RESOURCES
