Chad’s Story
Posted by John | Filed under How I'm Doing
I am sure that you must receive many e-mails of thanks; I cannot help myself, I really want to thank you! My partner gave me your book “Debt Free Forever” because I was always talking about how much I wanted to get out of debt. I have a decent income, despite the fact that I am also a PhD student, but I was constantly incurring more debt (much of it student loans).
After reading your book and watching several episodes of your show, I have decided to put myself through similar challenges as those featured in episodes of ‘Til Debt Do us Part.’ I began using your ‘magic jars’ and I cut up my Visa (I am blessed that my partner also bought his own set of jars and is cleaning up his debts too!).
I decided that I would go through my things and begin to sell items that do not have a lot of meaning for me. Already I have sold a few hundred dollars worth of goods, and I have some inquiries for larger items. With my current budget, I should have paid off half of my debt (which now amounts to 56,000) by next Christmas in addition to having 10,000 saved (some of which I may end up throwing towards the debts). Within two years, I will have all of the debt gone, and I should have nearly 20,000 saved for a down-payment on an apartment. This is all very exciting!
It is so strange for me to say this, but I finally feel like an adult now that I’m in control of my finances! Finally I can say that a great life really requires very little money!
Once again, I want to thank you for all of your words of wisdom! May you see many more blessings and riches in your life.
February 8, 2010 at 12:16 pm
Congrats on your new path to becoming debt-free, Chad!
I find that a huge difficulty people have who have incurred debt is their association with “materialism creating happiness.” The fact that you managed to dettach this association (as did I) I’m sure was one of the largest steps on your journey, leading to finding true happiness; the ever-lasting kind that CANNOT be bought in a store.
You’re making great strides and I wish you all of the best for the coming year!
February 9, 2010 at 7:09 pm
Good for you! I love hearing success stories! You are on your way to being financially secure. It usually requires both partners’ determination, support, and encouragement. Just remember: The present (time) is a present. Cherish what you have and be happy.
February 12, 2010 at 3:54 pm
Thanks for sharing your story!
It’s amazing at the rewards we reap just for keeping track of what we spend and making a plan.
February 15, 2010 at 9:23 am
Thank you for sharing your story and congratulations on your decision to be in charge of your financial situation.
Your story really resonated with me because I was also always talking about paying my debt but I didn’t have a plan.
I read Gail’s new book and I learned a lot in a very short period of time. I read the blog every day and I am grateful for all wonderful posts and comments.
I am also living on cash, making monthly deposits on RRSP and TFSA.
I plan to pay half of my debt by the end of 2010.
Cheers!!!
February 16, 2010 at 10:48 am
Congratulations on your success Chad and thank you for sharing.
Keep up the great work and you will soon be debt free!
February 16, 2010 at 1:55 pm
Isn’t it wonderful to have control again…Congrats
My partner & I are working out of debt. Ours will take longer, closer to 48 months
as we both have large student loans and car payments to make too . However , I feel certain in less than 10 years we will have saved enough for our first home.
Thankyou for your inspiration that you did it too… it makes it seem possible..
February 17, 2010 at 12:16 am
Congratulations, I am glad to hear that there are people getting out of their messes, it gives me hope that I can get out of mine.
March 4, 2010 at 4:09 pm
Congratulations, Chad…it feels good to take charge of the debt, doesn’t it? And yes, you don’t need a ton of money to have a wonderful life. All the best to you!