This is the final post of Kathy's personal finance story. As you know, she is now part of team Mommy Snacks!!
We were elated at the news that we were pregnant but at the same time we were sobered by the fact that our financial life had to get back on track! 2009 was approaching, and we decided our first step was for BJ to take a second job. Because we had so neglected our debt, we believed that we needed to work extra hard to get rid of it.
I began couponing, thanks in part to finding some frugal and deal websites. I began to follow their instructions step by step! I was ravenous when it came to information on coupons. Whatever it took, I wanted to get the best deals and save our family lots of money!
After I started couponing, I would not buy anything unless it was free or under $1, with very few exceptions. We were so serious about getting rid of debt we tried anything we could think of, including applying for food stamps and WIC. We knew these were short-term solutions, but we felt desperate.
Slowly we began to see progress. All that BJ earned in his part-time job went directly to debt. Couponing and WIC helped us cut down on the outflow of our finances. As we neared the end of 2009, we made it a goal to be out of debt by May of 2011. We had cut down on our outflow and had increased our income.
In late December, we discussed the idea of me taking a temporary part time job to pay off our debt more aggressively. Could we be debt free by January 2011? BJ talked to my old boss on the campus and found out there was a position available at the restaurant on campus as a cashier/host. I applied and got the job!
BJ was working a full time job and part time job, while I was working a part time job when he got off from his job at lunchtime. When he had ministry work to do (which was often), college students volunteered to babysit so that all that I earned could go straight to debt. For the first time, I feel like we were being gazelle intense in our desire to be rid of debt. With working, couponing and trying to practice self-control we are seeing an immense difference in our lives!
In fact, next week we will be making our final credit card payment and will be debt free from our credit cards!! We will soon be able to shout out as others have before us, “WE ARE DEBT FREE!” Woohoo!!!
Are you working to be debt free too? Want to share your personal finance story to enourage others?
Please email me and let me know if you would be interested in sharing your story in a post!
Photo Credit: Hermes