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:
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...
Since laundry never ends in our house, we need to stock up while the deals are HOT! Starting Weds./Thurs. at Publix, there's a super HOT deal on Purex Detergent! Stack a sale and coupons to score the NEW Purex Pacs Detergent for just $3 each for a 45 ct! That makes...
Easy Deal Scenarios from the CVS Coupon Matchups 5/19-5/25! To get the biggest savings at CVS, you’ll need to take advantage of their ECB Deals AND Use Coupons. Here are a few shopping scenarios broken down into separate transactions for this week to help get you...
One way I keep the craziness down in my life is to stock up on items that I know I'll need month after month. And feminine items are one of those things. Here's a great chance stock up on U by Kotex Products at Publix starting Weds./Thurs.! You can score up to (5) U...
Hungry kids and growing kids need rib sticking meals and pasta is good at doing just that! It's a cheap meal to make because you can always get deals on pasta sauce and spaghetti to make it affordable. And there's a great deal starting Weds./Thurs. at Publix! Hurry...
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...
Is your coffee stash loaded so you can handle this Summer? Hurry to Publix where you can pick up New England Freshly Ground Coffee bags for just $3 each starting Weds./Thurs.! Or snag K-Cups for only $3.30 each! Get your coupons ready so you can get caffeinated!...
Here’s the new Publix Weekly ad with all the coupon matchups. Check out the deals starting this coming week and be READY to shop!!
Calling all Tide Simply Lovers!! You will want to be the first in line when your CVS opens for the new sale this coming Sunday, 5/19 because there’s a crazy good deal! We’re gonna score Tide Simply Pods for only $1.94 each! Now that the laundry is going to smell...
A no spending month might sound like more hassle than it’s worth. If you have a difficult time controlling your spending, a no spend month challenge might sound like setting yourself up to fail. One of the biggest reasons most people won’t do it is because they’re too...
All my kids are involved in sports so we stay stocked up on drinks like Gatorade and Powerade so we never have to pay full price for them! Right now at Publix you can pick up (6) Gatorade 8 packs for ONLY $2.26 each after BOGO sale & stackable Target coupon! That’s a...
Have you seen this new flavor of Canada Dry Ginger Ale? They combined it with lemonade. When I’m planning to try a new food or drink, I always like to make sure I get a really good deal on it in case nobody likes it - but I have a feeling it's going to be tasty! Stop...