How We Paid Off $15,000 Of Credit Card Debt Using Coupons
I bet I can guess what you're thinking. You're curious what coupons are gonna help you pay off your credit cards, right?
I hate to be the bearer of bad news; but that's not how this works.
But before I explain how it DOES work, I've gotta give you a quick back story.
You see, in 2009 when the economy took a large downturn, my husband, James, received a large pay cut. We already had a couple thousand dollars of credit card debt at the time so things were tight.
In other words, we had a hard choice to make:
Buy Groceries OR Pay Our Mortgage.
I felt like a complete failure.
Correction: WE felt like complete failures.
Oh, did I forget to mention that I was an accountant before I was a mom, so I should've known better?
Yep, I have an accounting degree, plus I was a "Senior Financial Analyst" for an International Healthcare Company for 5 years before I was a stay-at-home mom.
I was in charge of millions of dollars, yet I couldn't manage my own money once I was a full-time mommy.
Here's what happened:
• I love math (hence my accounting background).
• I learned how to use coupons to pay for our groceries and everyday expenses.
• We then used our own cash to pay off our debt.
It took us 3 years to pay that bad boy off.
$15,000 of credit card debt paid off in 3 years with tiny little $1-$5 increments.
But you know what actually helped us pay off that debt?
Not the coupons. (Nope... that was the fuel to get us to the final destination.)
What helped us pay off all that debt was something every single person has the power to do with a pen and a piece of paper:
SET A GOAL.
Yes, you read that right.
We took a sharpie out and we looked at each other and we wrote down the total dollar amount of our debt.
And then we stared at that blasted paper on the front of our refrigerator every stinkin' day. (Over the Christmas holiday we'd tape the sheet to the back side of a kitchen cabinet to hide it from guests.)
Want a bowl of ice cream, hun? **sees debt goal on front of fridge as getting into the freezer**
Daggone debt keeping us from going to Cold Stone Creamery to get yummy "mix-ins".
Anyone want some popcorn? **sees debt goal on way to pantry to get popcorn**
Man, the movie theater popcorn tastes SO much better than this stuff I just burned in the microwave. Dang! I can't wait to get this debt paid off for GOOD so we can go to the movies whenever we want.
Every couple months we'd recalculate the number and we'd cross off the big number and write a new, smaller, one.
I wish I had held on to that paper to show you. But it felt so good when we had paid off our debt and James and I set that paper on fire in a family bonfire one night. And then we roasted marshmallows I got for free, using coupons.
Now, obviously, coming up with $15,000 takes more than writing a number (goal) on a piece of paper.
Those specific lessons we learned in the 3 years paying off our debt.
And I have good news for you: you don't have to use coupons to pay off debt (I've figured out easier ways for you to do it!).
Do you have debt?
Are you ready to take action and get rid of it?
Because I've got one super simple math equation that'll help you have more money left over at the end of the month:
No Debt Payments = More Money Left Over Each Month!
You'll pay off that debt so so SO much faster if you mentally "rip off the band-aid" and calculate your debt. And write that number down. That's your goal number to ATTACK WITH ALL YOUR MIGHT.
NEW FROM THE BLOG:
We are all in need of recipes to use up leftovers. I hate cleaning out the fridge (but not nearly as much as the bathroom) because it’s such a chore. I toss out any expired food or drinks that I might have been missed at the end of every month. This is an even more...
If you need to learn how to meal plan from your pantry, then you are in the right place! Last month, the James and I found ourselves frequently “treating” ourselves to a dinner out. It was a rough month for our budget. Our spending had gotten a little out of hand, and...
When it comes to saving up for a Disney vacation, every little bit counts! As an annual pass holder, we visit the parks A LOT! Sure the yearly pass helps get us into the park (because we don't have to buy tickets each time), but I always use Disney Gift Cards to buy...
Remember when cell phones used to be simple flip phones that you could fit in your pocket? Now, it is rare to see someone who is not carrying a smartphone in their pocket, if it will even fit in their pocket. Cell phone bills have gone through the roof over the past...
Frugality is often confused with being poor or cheap and spending only the minimum. But I've found that living a frugal life isn't about sacrificing and feeling deprived. Being frugal is learning to live smarter so that you can afford to live the life you want. It's...
FREE Coffee?!! I'm totally in since I need that delicious cup o' joe to get me going each day! Hurry and claim your FREE Forto Coffee at Publix right now! You can snag an 11 oz coffee for FREE after Ibotta! WOOHOO! [%printable-list:FortoPublixDeal%] BONUS FREE...
Did you catch my 2-Minute Money Saving Tip this morning on Spirit FM radio station? Each Wednesday I'm honored to share my knowledge about how to get the most for your money in a quick 2 minute savings segment on the Spirit FM 90.5 radio station. During this week's...
Whether you see each other every day or haven’t seen each other for months, having a weekend with your girlfriends is a must no matter how busy you are. Just think about the idea of having your husband watch the kids for a weekend, no grocery shopping to do, and all...
If you are a frequent visitor at Disney, you have probably considered joining the Disney Vacation Club (shortened to be called the "DVC"). If you don’t even know what that is, don’t worry we have all the details here. Before you sign the forms to join "the club", here...
You may be looking at your budget and feel like all your money is going toward paying bills. Sure paying your mortgage, student loans, car loans, and credit cards are all necessary payments, but if you are in debt, it can feel like all you’ll do with your money is put...
If you have babies, you know how expensive their stuff is! Check out this deal starting Saturday at Publix! Grab that Purple flyer coupon and snag (2) FREE Johnson's Baby travel size shampoo or head to toe baby wash! YIPPEE for FREE!...
Less than half of all households don’t have at least three month’s worth of savings. Out of all the homes that don’t, 89% are employed, and 25% make incomes between $56,000 to $91,000 each year! Is it time for living simply? I can tell you there is never a bad time to...
There are two types of people who want to live on $2,000 a month. There are the people who only have $2,000 a month, or there are those who want to live on less by living on $2,000 a month and saving the rest. I’ve been on both ends of the spectrum, so I know what...
Are you ready for an easy no plan meal planning guide? Sounds funny, doesn’t it? But this is what I call a no plan meal plan. I don’t know about you, but sometimes I just don’t have any time to sit down and do those freezer cooking marathons, family calendars, and all...
A weekly Meal Plan Template can make such a big difference when you are feeling overwhelmed by the simple task of getting dinner on the table. You can download my free weekly meal plan template right here, but I suggest that you also read through the tips for how to...