One woman paid off Christmas layaway accounts for complete strangers. What would you do if you had money instead of debt?
Getting out of debt is hard.
If it were easy, everyone would do it.
When my husband and I first started following the Dave Ramsey plan, I
often heard him say that knowing why
you’re getting out of debt is important.
I didn’t fully understand what he meant until recently. For the first year that we followed the debt
snowball plan, my husband and I were paying off debt to gain some peace and
simplicity in our lives. We didn’t
really articulate this out loud to each other; it was more of a quiet
understanding.
But then we got down to just my federal student loan, the
payment of which is under $400 per month.
At that point, I could sense my motivation waning a bit. Why did we have to pay off this loan so
quickly, considering the interest is under 3% and the payment is such a tiny
portion of our income? We were already
experiencing peace and simplicity, since we didn’t have a lot of debt payments
anymore. Couldn’t we just put my loan on
the back-burner, while at the same time swearing off any future debt?
