Hey, guys, this interview was done with Amanda who started with $133,763 in debt but has paid off over $80,000 so far! With 60% complete, she only has $53,208 left. Amanda was able to do all this while planning for a wedding and going to grad school. To follow her journey with more than 11,000 other members of the debt free community add her on Instagram @debtfreeinsunnyca.
So let’s get on with the interview and see how this lady boss is handling her Dinero!
What is your passion?
My passion has become more and more obvious to me the further we get into our debt free journey. I’m so happy that I’ve finally found it after wondering what it was all these years. My passion is helping people get out of debt. Teaching others how to budget. Providing hope and motivation that it’s possible to live a debt free life.
What got you fired up about wanting to pay off your debt?
Fear got me fired up about paying off my debt. I had just graduated with my bachelor’s degree, and my loans were coming into repayment. Doing the math, I didn’t have enough money to pay all of my bills, car payment, and student loans!
How long did it take you to pay off the $80,000?
Two years and seven months. We paused the snowball for six months during that time to cash flow our wedding and honeymoon.
What was the amount of the first payment you ever made towards your debt?
$1,181. My first debt payment was on an American Express credit card that I used for all of my monthly expenses. It was getting to the point where I wasn’t able to pay it off in full each month.
If you only had to name one strategy every other millennial struggling with their student loans should start with, what would that strategy be?
The budget, hands down. You can follow all other advice that’s out there, but at the end of the day, if you don’t tell your money where to go and stick to that plan, it’s going to disappear.
What or who do you credit your success in paying such a significant amount of debt?
Two people: Dave Ramsey and my husband. Without Dave’s plan and everything he teaches in Financial Peace University, we would be living normal lives digging ourselves further into debt. The teamwork between Josh and I the last few years is how we’ve been able to pay off over 80k; being on the same page is so important for getting out of debt.
What is the first thing you will do after becoming debt free?
This is actually a really hard question!
We’re programmed not to want to do anything to get out of debt, while at the same time we have a huge list of things we want to do. I think the first thing we’ll do is take a celebratory cruise.
Where do you see yourself in 5 years?
Baby step 6!; aggressively paying off our mortgage. Still kicking it on Instagram watching all my debt free fam become debt free. We’ll be sail boat owners on the verge of outgrowing our boat. I hope to have a solid YouTube channel and become really good at storytelling, editing, and stop motion videos.
What’s the best social media platform others can find you to keep up with your story?
Instagram! I’ll be on YouTube in the next few months. 😉
Is there anything else you want to add or advice for other financial freedom seekers?
If you live like no one else, later you can live like no one else.
There you have it, folks! Another Dinero Pro who insisted on living a life free from the burden of debt and to chase “dream of sailing away.” Regardless of your situation, It is possible to climb out of your financial mess and turn it into a message for others to hear.
What do you take from Amanda’s story?
If you would like to share your story or schedule an interview see instructions and e-mail me at firstname.lastname@example.org