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:
Healthcare these days can be a nightmare. What policy should you choose? How can you save the most money? What is covered? It’s like a maze that almost makes you need a doctor from a headache it causes. But through all the decisions and choices, there are some things...
One way to make sure that you will use the coupons you spent time acquiring is by getting yourself organized. And that begins with how you are storing coupons. There is nothing worse than heading to the store only to later realize you forgot a coupon for something...
Publix Deal: (2) FREE Mayfield Big Chipper Ice Cream Cookies (After Ibotta)! (8/14-8/20 Or 8/15-8/21)
Make the first week of Back To School better with this FREE Ice Cream Treat starting Weds./Thurs. at Publix! Hurry and clip this Publix digital coupon so you can score (2) FREE Mayfield Big Chipper Vanilla Ice Cream Cookies after Ibotta! It's a great treat for those...
You can expect to find TWO (2) Coupon Inserts in your Sunday paper this week: (1) SmartSource, (1) RetailMeNot RetailMeNot (RMN) - formerly RedPlum (RP) Also, don't forget to pull out the Publix Purple H&B Flyer! We've already matched them up with the coupons....
This past week I've received several emails and comments from readers about how to specifically set up their coupon box. Since I"m in the process of updating the videos inside the True Way To Coupon Course, I thought it would be fun to share with you one...
There's a science to goal setting. These tips will help you set yourself up for success!
As an annual pass holder, I will be the first to tell you that I could spend an entire day in each of the parks, then go back to the same park for the second day and STILL not experience everything at that park. Disney vacation deals are there, you just need to...
I always joke with my husband that when we walk into the dollar store, armed with a couple one dollar bills, that we feel RICH! 🙂 But there are definitely items at Dollar Stores that, while only $1, are too expensive and can be purchased cheaper...
One of the main reasons people spend money is not out of necessity or even want, but boredom! If you are working with a tight budget this month (or maybe every month), then spending money “for fun” is just not in the cards right now. Spending money without a legitimate reason is not only bad for your wallet, but also your time!
If grocery stores were in a mall, Publix would be the magnet store! Many of my friends used to think that they could never shop at Publix because they thought it was too expensive or even "uppity." publix Weekly Ad | Aldi Ad | Kroger Ad | Avon Catalog Then...
Are you ready for a bold, delicious taste of coffee that's FREE? Hurry and clip another great FREEbie from Publix! Clip for a FREE can of Starbucks Tripleshot Energy! YAHOO! [%printable-list:StarbucksPublixGDA%] BONUS FREE DOWNLOAD Tiny Steps You Can Take Today To...
Here's another great freebie at Publix! Hurry and clip this digital coupon so you can grab a FREE box of Nature Valley Wafer Bars! Yippee for FREEbies! [%printable-list:NatureValleyPublixDeal%] BONUS FREE DOWNLOAD Tiny Steps You Can Take Today To Have More Money...
Whether you’ve decided not to spend any money for a short period (by doing a spending freeze), or there just isn’t enough money to make ends meet, everyone encounters a time when you have to use budget savers to make the money you have last until it replenishes and...
I don't always have time to put on a full face of makeup. One thing that makes my face feel complete is putting on eyeliner and mascara. Make sure you get your coupons ready for this CRAZY deal starting Sunday, 8/11 at CVS! You can snag (2) Rimmel Eyeliners for FREE +...
Want to actually get EXCITED about saving money? And help your kids to want to save also? Then these Money Saving Challenges are perfect for you!