Debt Free - or at least on our way.
Yes it is possible. We are not there yet, but we are on our way. We first started attempting to pay off debt almost 3 years ago. We learned about Dave Ramsey and his program about 2 years ago and are now following his plan. With this years tax return, we feel like we are debt free now! Although we aren't actually. In the Dave Ramsey plan, first you set up emergency funds (he recommends $1000 for that) so you don't have to use a credit card for the unexpected things in life. 2nd, you cut back and put everything you can into paying off debt, from the smallest to the largest, rolling the payments from each thing you pay off into the next debt. He recommends paying off everything except your mortgage here. 3rd step is to get 3 to 6 months worth of income into the bank for a fully funded emergency fund. So far, we have our emergency fund, and have gotten rid of $42,000 of debt!! It's horrible to admit that we ever had this much debt, but $15,000 of it is what insurance di...