My Journey to Debt Freedom: How I paid Off over $30,000 of debt and found financial peace

Debt is an overwhelming reality for many, just a vicious cycle of stress and financial worry. I know this feeling all too well. Living paycheck to paycheck, thousands and thousands of dollars accumulated in debt, and it all just seemed like an enormous hurdle in my life that I would never be able to overcome. But I was wrong, I was able to overcome it, get out of debt and change my entire life. But… IT WAS NOT EASY! I want to share my debt free journey with you not to boast about my accomplishments but in a way that will hopefully inspire you and motivate you to make changes to your finances to also become debt free and stress free.

MY DEBT STORY AND THE BREAKDOWN OF MY DEBT

My journey to debt free living began in 2015 when I made the decision to no longer live a life where debt ruled my every move. I was tired of thinking about everything and everyone that I owed when it was payday. I was tired of feeling guilty every time I bought something for myself or the kids. I was tired of living in a ‘lack’ mentality. The only issue I had though was that I didn't know where to start or how to live any other way. None of my friends seemed concerned about their debts, and we never really had conversations about getting out of debt, and I felt really alone in my desire to change my situation.

I took the time to reflect on how I accumulated over $30,000 in debt, and I realized it stemmed from a line of credit for uni (university), student loans, and credit cards which I also got while in uni. Those credit card companies were all over campus waiting to pounce on us broke students. I also got into my financial mess by living beyond my means, and ignoring the consequences of my spending habits. Let me tell you, that time of reflection and realization hit me hard: I needed to make a change, and I needed to do it fast.

DISCOVERING MY PATH TO BEING DEBT FREE

I did a lot of research and (ahem) YouTube watching on how to get out of debt because, like I said, I had no idea and no one to ask. To be honest, no one that I actually knew has ever paid off all of their debts. Turning to good ole YouTube, I discovered Dave Ramsey and the debt snowball and cash envelope system. I am not affiliated with his organization, and I am not sponsored by them, but I will shout them out, “Hey” The Dave Ramsey Show, because they helped me along the way. Watching others share their debt-free journeys and celebrating their victories motivated me to make changes to my life. 

OVERCOMING OBSTACLES ALONG THE WAY

It wasn't easy! Sacrifices had to be made. I had to learn to say no to unnecessary expenses and prioritize debt repayment above all else. I revamped my budget, cutting out wants and focusing solely on paying off what I owed. It was a challenge, but seeing my debt decrease each month fueled my determination.

There were setbacks along the way. I questioned whether I could sustain this lifestyle and felt so embarrassed by my budgeting methods. I mean I was using money out of paper envelopes to pay for things, and after some time you can imagine how worn and torn they got from being in my bag. I use to worry that people were judging me and sometimes even laughing at me. But I knew that I had to push on and stay focused on my goals.

THE FINAL PAYMENT

After 12 months I made my final debt payment. The feeling of relief, success and freedom was indescribable. I had achieved what once seemed impossible—I was debt-free. It actually makes me emotional just writing this blog and thinking back to that moment.

MOVING FORWARD

In the years that followed, I continued to manage my finances by saving, spending, and now trying to start investing. But in 2023 I realized, I could do even better, and I had goals…big goals. So, I returned to budgeting and cash stuffing intensely. I was determined to improve my financial future in a way that I never believed I could before.

MY HOPE FOR YOU

Now here I am! It is May of 2024 and I have been seriously cash stuffing for over a year and pleased with all the progress that I have made towards my goals. I have almost met my savings goal for the year, I have launched my budgeting accessories business, my emergency fund is halfway completed, and I have finally started funding my dream of building a masjid.

My hope is that by sharing my past experience of being in debt, my story of how I paid it off, and where I am now, will encourage and inspire others and show that debt repayment is possible.

Now, I share my journey on Tiktok, YouTube, and this blog hoping to inspire others on their paths to financial freedom. Whether you're just starting your debt-free journey or navigating life after debt, remember to take it one step at a time. Be patient, have a plan, stay focused, and never lose sight of your goals.

Happy budgeting!

Have you started your debt free journey?

• Yes
• No
• I will soon
• I don't know where to begin