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Friday, February 19, 2016

Intro to my debt free journey-our Dave Jobs

We've really been on this journey for several years but this time it feels like the last because my husband got serious about it. So important that couples are on the same page when trying to achieve debt free status. We knew an increase in income was needed so my husband a nd decided to take a 2nd pt job as a pizza delivery driver 20-25 hours a week. He's been there about 10 weeks now and I was wanting a pt job n I started on his nights off so 3 nights a week for 15 hrs our pto income combined is about $1400 estimate as I've just been there two weeks and our pay is $5.50 per hr not on deliveries, $1.25 per delivery plus tips. We average $8 per hour minus gas. Both of our cars get great gas miles mine 18 mpg n his a bit more so only about $10 more a week in fuel cost. Both our vehicles are paid for n older 2001 n 2002 and if one hits the dust we will cash flow another one both cost under $5k, I've had mine 2 years with no major repairs, my husband has had his 6 months more work on his.

We saved up our EF- BS1 in Dec.2015 paid a little down on some debt, had to dip into our #ef about $500 for hubbies car repairs. Took another 6 weeks to refill that. This Feb.2016 we used our tax refund of $3600 to pay off our highest interest rate loan a bank loan for $2800. Now the monthly payment of $120 will be rolled over in our snowball debt payments. We plan on using 90% of our income from our Dave jobs to pay off debt that's $1200 a month which gives us an estimate goal of 12 months to pay off our payment live debt of $16680. All of the money to pay this debt is estimated to come from our pt dave jobs at $300 a week or $1200 a month.
Without my husband being willing to get a 2nd job and encouraging me to it would take is 3-5xs longer to pay off our debt. Living debt free is possible with a lot of hard work, focused, and determination.
If we can increase our income to pay off our debt in one year we know you can too! What odd jobs are you taking to increase your income to get out of debt? Whens your debt free goal?
#Dave Ramsey, #baby steps, #debtfree
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