Here it is: We’ve paid off over $25K in 5 months. Excuse us while we happy dance and cry! *dabbing and booty shaking*
Whew. Now, let’s be honest here, we NEVER thought this would happen. We thought we’d be in debt forever and now we can finally see the light.
We genuinely thought these student loans would be with us forever and as of the end of February 2019, Taylor’s student loans are completely paid off.
Every last penny.
These loans started over 8 years ago with close to a $50K price tag. Ew, right. For us to say goodbye to those loans forever this month? Priceless.
So, this month was an exciting one for not only the student loan sayonara, but it was also Jake’s birthday! (Happy 33rd!) We splurged a bit for his special day and, as we’re sure you can guess, it knocked down debt payment down somewhat. Also, this month is shorter than the rest and affects our bottom line, wah-wah. BUT Having said that, we still ended up hitting our debt payment goals for this month: Minimum 4K Monthly Payment! WOOHOO!
Here’s the breakdown:
Our Debt Starting Balance: $65,125.64
Our Debt Starting Balance From Jan: $45,164.14
Our Debt Payment For Feb: $5079.10
Our Debt Ending Balance From Feb: $39,990.50
That means, to date, we’ve paid off… $25,875.14
We are SO excited about this progress, we can’t even tell you.
Dave Ramsey, the guy who is our guru for this journey, says that you get “gazelle intense” when it comes to paying down your debt. When the ‘Debt Snowball’ starts rolling, you start to get even more intense to get it rolling faster. Well, he’s right.
We are starting to really get into the swing of things which we will need for our last 3 remaining debts. These guys are the big ones. We have a personal loan (coming next!), a home loan, and Jake’s monster student loans as our largest debt. Oooooooh we’re comin’ for ya suckers.
When we started we set our initial goal was to be debt free by April 2020, we became more intense and adjusted it to February 2020. When we started sharing this journey with you, friend, we got even more intense and set it to December of 2019.
THE END OF THIS YEAR.
Now, with our progress, we can see that becoming a reality.
We might even pay it off sooner than that. *cue more crying*
To think, by the end of this year, we will NEVER, ever have debt again? HOLY CRAP-O-LA. It makes us both a little teary-eyed, to be honest. And we can’t wait!
So far, we’re doing good and we are incredibly proud of ourselves. It can be hard to keep the momentum going sometimes, we get moments of doubt and feeling tired. We have moments of stress and friction. It can even be hard to be proud of ourselves for making this change. (Hello, talking about money is scary!) But when it comes to the end of the month and we can see the progress, we can’t deny it. It lights us up all over again.
If you’re working a debt free journey too–let us pause right here and cheer you on:
YOU CAN DO THIS! You are working so hard, making the sacrifices, and doing the work that everyone knows how to do–but doesn’t. You are that special person who is changing their financial trajectory forever. You GOT THIS!
We believe in you.
Alrighty, there you have it. Our
So, can we ask a favour? Cheer us on? Just a little? Every comment, share, email, message, like–we notice. And it affects us. It really give us the extra push to keep going and stay accountable.
You guys are awesome! Keep it up! Soon that will be money saved for investments or things to treat yourselves after the debt repayment. Great job Congratulations my friends.
Jake and Taylor Aller says
Thank you Kristy!! Your support means the world. We are so excited for our financial freeeeedom! We did everything backwards–invested before we were ready, purchased our first home, so many things we had to re-learn to have this progress happen. It’s SO worth it! Thanks for your encouragement! You’re the best.