
As of yesterday, (Evan and) I are debt free! No more monthly payments. No more interest that is being paid to the bank, rather than in my pocket. More savings ahead!
7+ months ago when we got married, I still owed money on my car and my student loans from college. Meanwhile, Evan had no debt and had a good chunk of money saved in the bank. A month or so after we got married, Evan sold his
fully restored '56 Chevy truck, realizing it was probably more important to us that we have that money for school and savings. At that point, we decided to use some of my savings and part of the money from the truck sale to pay off my car. What a glorious feeling that was!
However, my student loan debt was still weighing on me. I have been paying on it for 4 years and it seems like I was NEVER going to be rid of it. I increased my payments, but with a 7.14% interest rate compounded daily, it still seemed like I wasn't making as big of a dent in the loan as I would have liked to. Evan and I kept calculating and recalculating how long it would take me to pay off the loan if we paid "X" amount per month. Finally, we realized that we should use a majority of our savings to pay off the loan. That way, we are debt free and putting the money we would be paying on the loan into savings every month!

We thought about it, prayed about it, and decided to go for it! I have to be honest, it was very appealing to be DEBT FREE, but it was also hard to say goodbye to a huge part of our savings. We have revamped our budget and hope to save even more money for the future this way. Here's to being debt free!
P.S. Have you ever heard of Dave Ramsey? We got his book for our wedding from a trusted, close friend. Sadly, we haven't read too much of it yet! What do you think of his principles?