In this segment of “In the Middle,” we’re here with Elzie and Von – a couple that started off with almost $125,000 of debt and, within a year and a half, have cut down their debt to $58,000.
They’re a couple with three kids, two properties, and a plethora of past challenges who are in the middle of tackling their debt on their journey towards debt freedom.
Elzie and Von have had a long and complicated journey. Originally, they didn’t communicate effectively, or at all, about tackling debt. Von had student loans and credit card debt, but at the time, Elzie didn’t think of it as his responsibility.
After years of challenges and breakthroughs, now, the couple has gone from denying and deferring loans to talking about money and finances every, single day – even down to the dollar.
In addition to their financial journey, Elzie and Von openly share some of the struggles they have had as a couple and how this impacted their ability to make financial changes in their life.
Both Elzie and Von discuss the grief and mental health struggles they experienced in the aftermath of losing a child, being separated because of Elzie’s deployment, and residual PTSD from having been deployed across seas.
The couple emphasizes the importance of focusing on one’s mental state prior to making financial changes for the future, and their vulnerability sparks an excellent discussion on the intersection of mental health and financial stability.
Now, with more than half of their debt paid off, Elzie and Von have ambitious goals to pay off both of their properties to become full homeowners.
Through accountability, surrounding themselves with like-minded people, and small changes, they spend money wisely and frugally, and they are well over halfway towards becoming debt-free.
Von is the co-founder of an interior design company called NV Decor DMV, and you can keep in touch with her on Instagram @nvdecordmv. Elzie has also been hard at work in starting a new logistic business and he also received a job promotion.
What You Will Learn
- The importance of communication and teamwork for couples
- The difference between regular and student loans
- How to get your spouse on board with paying off debt
- How to work through grief and challenges in a partnership
- Prioritizing mental health before addressing financial changes
- Talking to friends and family about debt journeys
- Making small changes to save money
- How to stay accountable and motivated
Resources Mentioned
- Every Dollar App
- Everyday Millionaires by Chris Hogan
Thanks For Listening!
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