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Our Story…

Our story is not unlike anyone else’s history with debt. Before my wife and I got married we each had a little debt. My wife had a $15,000 student loan and I was finishing off my car loan from my parents. We had saved up enough money to pay for our wedding and our honeymoon. We lived in Kansas City where the culture was to spend everything you made and sometimes more. We lived it up! We thought nothing of spending $80 – $100 bucks on a Friday night date.

We were married in a beautiful church and had a wonderful honeymoon down in Mexico, but when we got back home and things settled down. Debt started to creep into our lives…Not even two months after getting married our second car went out and so thinking nothing of it we went and bought a Ford Escape for nearly $13,000 and moved to a new apartment for about $640/mo. verses our previous rent of $400/mo.

Four months after moving, we talk and decide that we would like to raise our kids in a smaller town closer to our parents. So I take a job with a well-established company and start working immediately, while my wife packs everything. Before my wife even had a job, we bought our first house in January of 2007. We cash in my old mutual fund and pay 5% down. Luckily that was more than most were putting down on their houses at that time. We rack up even more debt by buying our washer, dryer and deep freezer on credit cards.

It didn’t take long, but we had built up over $100,000 in debt and living on one income. The good news was my wife found a job in March, a month after we found out we were going to be parents. Finding out you are going to be a parent is the most exciting event that can ever happen to anyone.
The absolute worst event is going into the doctor 16 weeks later and finding out that you have lost the baby. Losing a child is a deep void inside you and it’s not something you just get over. It take lots and lots of time to heal. I believe that my wife and I were both feeling to a depression for months afterwards. During the depressed times, we didn’t always make the right choices: we didn’t pay the medical bills, bought a $2,800 water softener, and almost bought a $2,100 vacuum. Luckily, my wife had a moment of clarity on the vacuum. ( we just bought a new vacuum for $50, looks like we saved $2,050!)

Things slowly got better…

On Oct. 13th of 2007 we finally got some good news and my wife was pregnant again. Realizing we were getting a second chance, we woke up from the haze of the Debt Society and decided we need to take care of things with a baby on the way.

We were no longer Debt Zombies…

We owed over $114,000, and that sounded insurmountable, but when we got organized and we saw the whole picture. We were able to start telling our money where it need to go, instead of us wondering where it was going.
Our first month was rough, February was even rougher, when I broke my hand. I became a one-handed graphic artist and worked as fast as I could to keep my job. While working my full-time job one-handed, I also had found a part-time job, also. I kept the secret of breaking my one hand from them and kept working from home. I did take some time off of each job due to the fact that I knew that being one-handed did slow me down.

This is how it started for us… tell us how big of a hole you have dug your self into with debt! Comment now…

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Comments»

1. rj - April 21, 2009

Once I finally decided to sit down and look at my debt and not simply “go though the motions” blindy stumbling though my financial existance. once I got organized and figured out how much money I had comming in and how much going out. I quickly found a problem. I was consistantly spending $300-$500 more per paycheck then was comming in, ummm MATH PROBLEM!!!! So my wake up call came when I realized that my wife and I were $114,000 in debt with over $25,000 on credit Cards. After a long pouting session and several stressed out conversations with my wife we finally got organized and with the help of a very close and dear friend we began our DEBT FREEDOM JOURNEY!!!


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