How we paid off our debt (case study)


we’re gonna talk about how you can pay
off your debt and how you can do it really quickly and in this video I’m
gonna take you to an interview I did with one of our students who paid off
$22,000 in less than nine months and I love hearing stories like this and so I
just wanted to bring her on and chat a little bit about what she did how she
did it if there’s anything unique and special that kind of happened that
allowed her to pay off so much that so quickly so if that sounds good you just
stay tuned and we’re going to get started in just a second all right guys
I’m excited to have Shannon Brown on the line today and she has a really cool
story I found out about and so I just want to bring her on have her share her
story and how she paid off 22,000 bucks in nine months which is really really
fast I’m always impressed by these like super achievers who can do really really
great things and I want to see how they did it and and all that so that’s why I
brought her on so without further ado Shannon thank you for coming on and
sharing a little bit with us today yeah thank you so much for letting me share my story no it’s my pleasure 22,000 and nine months I mean I feel
like that takes some love of superpower what was the big thing that really
amplified it for you you know what it was around that time that you know I never even thought that you know living debt-free was I thing a possibility you know but I just it was everywhere all of a sudden every blog post I saw books you
know discussions with friends um and so I was you know obviously it was God you
know calling calling us that was what we were supposed to do at that time so um
he had his hand in the whole the whole story in the whole nine months so
everything that happened um it was absolutely miraculous you know there’d
be you know a bigger income tax refund than we thought
there’d be and you know an opportunity for me to make more money from the blog
or I’m also an architect so I got a job doing that from home for a short time
and it was just crazy stuff happened that there was no way you know I didn’t
go out looking for it just came to us you know I hear that okay so that
happened for us like I it was one of those things where we took the steps
forward to whatever we did our part and then we watched all these miraculous
things just like come in like wind on our back to help us get it paid off
really fast and I hear stories like that all the time so I’m really excited yeah
I’m really glad you said that because there really is something to it and and
I love when God shows up and you know it’s like this was not a coincidence so
yeah because we had that too so I completely get that so oh go ahead
what you’re saying is we took that step when we said you know this is what we’re
supposed to do and we have no idea how we’re gonna do it yeah and so we thought
it would take us years very you know frugal living and you know we still look
very very frugally as it still but and we set out and we actually put a like an
automatic payment extra toward our loan and we said we don’t know where this we
did $39 the first month and we said we don’t know where this is gonna come from
and sure enough it was always there and then we were able to of course increase
that amount it seemed like every month there’d be something else all right
so through the process were there any mistakes or any things
that you wish you would have done differently you know in that nine-month
process oh gosh it’s okay if there’s not I’m just curious
yeah there’s nothing that I can think of you know offhand that I would change it
went really really well and I think just taking that first step was the key yeah
just to start and not be afraid to make that goal even though it seemed like an
impossible goal yeah and it just really didn’t work out yeah it is there’s
something about taking the first step and yeah because there are so many
people I think who just don’t take that first step and they never see what’s
possible you know because it is an act of faith I mean to some extent just to
decide I’m going to do this you know so yeah I completely agree I mean the
reason I asked the question is because I think there’s a lot of people who you
know in our case I was completely on board and I had to get my wife on board
and kind of sell it to her a little bit and so and one of the things that I did
helped I think but I could have done a lot better was been a bit more
supportive of her because she was making much more of a sacrifice than I was
because I was already used to living below my means a bit and she was used to
living way above and so she was the one who had to make a major change and in
anyway so that was one thing that if I were answering the question would be one
thing I would probably do a little bit differently to probably be a little bit
softer and possibly be a little bit less rigid and more
I don’t just be willing to make more sacrifices to accommodate her and her
pace I guess did you have any issues like that and well you know what my
husband it got on board really fast after I said this is what I really think
we should do you know and I just kind of gave him the space to think about it and
within a couple of weeks he was on board now that’s a question that I get a lot
for my readers about you know how do I get my sweat spouse on board and yeah so
I know that’s a big issue for a lot of couples and we you know living on one
income we had a lot of experience a lot of mistakes leading up to that
point where we started to try to pay off debt and that’s really when we started
learning what the right way to do it you know the right way to yeah budget I had
tried to keep a budget for so long every month I tried every month we’d go
over and it wasn’t until we finally just made like some small changes like
learning about the zero-sum budget and using a couple unlike apps we used Mint
at the time so it would automatically kind of categorize and let us see and
up-to-date you know every day every week um so a couple things like that that
yeah we definitely made a lot of mistakes before yeah yeah well that’s
great that’s great to hear that it just was a smooth nine months it just kind of
went I mean yeah so in after that so once you got out of debt was it how did
it being out of debt compared to how you envisioned being out of debt I’ve done a few interviews about our story and I get this question well I get the question a
lot of you know what changed for you or what did you different after you finally
made that last payment and honestly we haven’t changed our lifestyle that much
because of um you know the goal of living mostly on one income and you know after being debt-free there’s a lot of you know goals there’s a lot of next
steps like we now we’re saving well first as soon as we paid off our debt we
started saving for an emergency fund and then once we got that done now we’re
saving for a house so no you know there’s just there’s always something
and of course with the kids growing and we just kind of keep using that momentum
I guess of the feeling of success that okay we did this so we can take the next
step yeah take the next step yeah and I I
just love how it builds like a snowball because once that debts paid off you
free up all this extra income to move towards those goals so much faster you
know and that’s just one of my favorite things this is watching that thing to
speed up faster and faster towards those other goals you know
and the other thing is similar to that is during our debt payoff I increased my
income from home and so then I have that a little bit of extra to contribute to
our next goals so it’s not like that suddenly went away or that I you know
quit doing it I’ve learned so much about you know building my business and
everything that I can use as we continue on in our journey yeah that’s awesome
all right so one more question and then I’ll I’ll let you get back to things but
um so if you have a you know one of your good friends comes up to you and you
know basically says I hear what you did you you paid off your debt what an
awesome thing to do what advice would you give them if they were asking for
advice what would you say oh gosh I could probably go on talking about it all day long you know probably the first piece of advice I would say is just and
get an idea and find out where you actually are and I know for us and then
a lot of my readers they don’t even know how much they owe how much they’re
spending every month or where the money’s going yeah so if you can get a
picture of that and just get a grasp of okay you know it’s maybe not as big as
you think it is it’s maybe not as impossible as you think it is that is a
really good first step and then like for us just taking that first step of
committing to paying extra like even a tiny bit can really take months or even
years off of your debt pay off so feeling like oh you know I don’t have
any extra I can’t make a difference I might as well not even try like when you
really look at the numbers like if you do we did a snowball calculator we saw
okay just this little bit is in a take off I can’t remember exactly how much it
was several months and got us there so much closer okay well what if we do a
little bit more and a little bit more and it was really just inspiring to see
that so that helps get us going that’s awesome well I appreciate you taking time to get on the call and sharing your story and everything with us so thank you very very much oh thank you so much for having me it’s my pleasure all right I
hope you found this helpful and if you did I would love it if you could leave
us a thumbs up down below and on this channel just as a reminder what we do
here is we give you practical tips and strategies to put more money in your
pocket and then we also kind of explore some of the timeless biblical principles
and how to manage that money so that sounds good to you as well you can hit
that subscribe button so you can hear from us as we create new stuff but that
is all for today so have a wonderful rest of your day and I’ll see you in the
next video

6 thoughts on “How we paid off our debt (case study)

  1. A takeaway I got from this video is adding extra money a month to the payment and not knowing where it was going to come from. That took a lot of faith.

  2. I think one thing I learned here is that I need to let God take care of it more, to let him take control. I am wanting to be debt free, and work towards even having our house paid off, but my husband isn't anywhere near that point right now, so I need to let God work on him, and just keep plugging away in whatever way I can. Plus, I don't have to have it all solved right now. I do wish there had been a little more detail on things or habits she changed in order to add that little bit more to the payoff.

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  4. Hey man! I watched one of your videos about earning extra income and heard you mention using biblical principles in finances.
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