In December 2006, shortly after I married Mr. Sam, I started shopping for a new/nused car. I wanted a new car (I was and continue to drive a paid for 1999 car) but I did not want to a new car payment. I did some internet research and came across Dave Ramsey and his drive free plan and I was intrigued by Mr. Ramsey's debt free philosophy.
Accordingly, I picked up Ramsey's book Total Money Makeover at the library and read it while Mr. Sam and I were vacationing in Key West over the New Year's holiday. When I had completed Ramsey's TMM I was highly motivated to tackle our debt and to start living "like no one else so we could live like no one else."
The first step was to determine how much debt we were carrying. Easier said than done. It took us a while to collect statements and information for our debts (6 credit cards, 1 other debt and 1 student loan) and when we added up the damage we owed $55,537.
Ouch!! Were we surprised at by the total debt amount? Yes, indeed, we were. But, step one of tackling any problem is to first face the problem.
Check back for steps 2 - 6 of how we paid off $55,500 in debt in 12 and a half months.
Are you interested in living a debt free life? Why not take the first step and gather your credit card, car and student loan statements and documents and add up your unsecured debt.