Just swallow your pride and tighten your belt
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We just wanted to take a minute and share how happy my wife and I are that we are almost completely creditor debt free! We would watch your show, and realized that we were on the same path as so many of families on your show. We owed $43,812 – 4 1/2 years ago in credit card and small loans (at rates up to 26% and 32%). Those expenses, along with our mortgage, had us never seeing any of our paychecks, and having to go to place like Money Mart just to get by pay to pay. Our stress levels were rising, and the future wasn’t looking too promising, with the debt levels rising, because we were only able to keep making minimum payments. We decided to go to a place called Catholic Family Services, who set us up with a debt repayment plan, and were able to reduce our creditor’s interest rates, so we could pay them back.
It was very difficult at first, learning how to live on cash only, and a very strict budget, but we didn’t want to claim bankruptcy, and we wanted to repay what we had borrowed. We are so happy to tell you that we won’t have any creditor debt as of June and with our mortgage payments changed to weekly payments, we will be mortgage free sooner than anticipated! We were inspired by your show, and figured that we could do it as well if we could learn to live on cash alone, which we do all the time now. Holidays are paid for in cash, and for the first time since 2005, we are taking a vacation that will be completely paid for in cash. We just wanted to share this with you, because we are proud that we were able to turn our financial futures around like so many of the people we see on your show, and to let others know that it is possible to take control of your finances, if you’re willing to swallow your pride, and tighten your belt. Our retirement has never looked better 🙂 Take care, and thank you for enlightening shows!