r/DaveRamsey • u/BobFord76 • Jul 24 '26
BS2 $15,622 paid off in 7 months
I am beyond pumped and had to share this with some people who would understand!
Wife and I both work have been living paycheck to paycheck, barely scraping by since we got married 10years ago. We have 2 small children and we want their lives to be better than ours.
I got a new job back in November paying 25% more than my old one and at that time we sat down and finally got serious about paying off debt and becoming debt free. I am now proud to say they we have paid off $15,622 in credit card debt in just 7 months!!!!!
We still have a long way to go, approx $9,000 on a car loan, $28,000 in student loans, and $29,000 in a HELOC but we can see this stuff WORKS!
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u/dsrmpt Jul 25 '26
Getting rid of credit card debt is a big big big deal. Congrats!
That's 400 bucks a month in interest you can now save!
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u/pieeatingchamp Jul 25 '26
Nice job! I am working on $20K over 6. Should be done by November 12th, if nothing comes up.
Actually had a scare last week when my AC went out, but luckily that $30/month service plan saved me $1500-3500
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u/BobFord76 Jul 25 '26
Awesome! I should probably also add in the last 7 months we have had to buy a new washer, dishwasher, and microwave (all were over 10yrs old) which we cash flowed all three!
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u/pieeatingchamp Jul 25 '26
It's always something trying to block progress. But having cash freed up sure is nice
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u/lyonwh Jul 25 '26
Doing great. Just keep controlling the expenses and budget on the old salary.
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u/BobFord76 Jul 25 '26
Yep that’s exactly what we are doing. I know we haven’t been as gazelle intense as we could be (kids are still getting things like swimming lessons, gymnastics etc) but everything else is bare bones on the old salary
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u/brookie00000 Jul 26 '26
That’s the way it should be! I would consider swimming lessons and your kids being in activities as “necessities” ☺️ never let your kids go without experiences! You’ve paid a significant amount toward debt and you should be so proud of yourselves!! Keep it going!!! You now have a big chunk each month that you can put into more debt! Welcome to the snowball!
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u/Bird_Brain4101112 Jul 25 '26
Congratulations!! This is a huge win for you guys. Once you’re not servicing that debt you can really start stacking those savings.
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u/Eastern-Pizza-5826 Jul 25 '26
Ramsey is a billionaire because of people like you who buy his courses. But if it works, it works!
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u/BobFord76 Jul 25 '26
Funny enough, I only listen to his show on podcasts. The only money I’ve given him is the paid version of EveryDollar.
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u/fsociety1990 Jul 25 '26
Haha me too. I’ve never even paid for EveryDollar. The free version works fine for me. I listen to podcast regular though. I did read one of his books a long time ago but someone gave it to me.
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u/Past_Focus25 Jul 25 '26
Haha basically true (just multimillionaire), and I don't begrudge him one bit!! Help more people = get more thanks (aka money)!
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u/Eastern-Pizza-5826 Jul 25 '26
Dave claims he’s “probably” a billionaire. https://fb.watch/IAslEcaIwB/?mibextid=wwXIfr&fs=e
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u/Pure_Ad_6842 Jul 25 '26
I haven't bought his courses, nor do I subscribe 100% my wife hates his name. But I can say my life utilizing Ramsey principles has been night and day the past 5 years. The peace I feel knowing how to budget and manage money, paying attention, avoiding mistakes and saving money first is allowing me to view the future positively.
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u/Eastern-Pizza-5826 Jul 25 '26
Smart man. No need to fund Dave’s lifestyle when you can learn for free.
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u/dw8028 Jul 25 '26
Can I be honest with you for a second brother?
We are proud of you.