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Ten years ago, my husband and I began our journey to pay off more than $37,000 in debt. It took a little more than 2 years, but we reached our goal.
Was it easy? Not at all. But, it was worth it.
As you read my posts, it may seem like I have a great system to help teach others to get out of debt. I know what to do and what to avoid. But, that wasn’t always the case.
When we began our journey, we knew nothing. In fact, we made a lot of mistakes. A LOT of them. In the moment, we felt as if we knew nothing. However, looking back, we had to make those mistakes in order to reach our goal to become debt free.
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MISTAKES WE MADE WHEN GETTING OUT OF DEBT
Which mistakes did we make and how did we overcome them? I’m giving you insight into my life, so you can avoid making these same blunders while you work yourself out of debt.
1. Not knowing our spending patterns
We really did not look at what we were spending our money. Not doing so led us to make the second mistake getting out of debt.
When we took the time to develop our spending planwe had a more accurate picture of our spending lifestyle
2. We didn’t have a complete budget
As mentioned above, we didn’t really know where were were spending money. As a result, some of our first budgets were not accurate. They weren’t even close.
Once you have a workable budget, you will be able to see where your money goes.
3. Not changing our lifestyle
Getting out of debt should not be fun. It should not be easy. In the beginning of our journey, we tried to life the same life we had all long. When we finally woke up and said, “DUH!” we were able to change things, such as dining out and were on track to get out of debt.
The lifestyle we lived was why we had debt. Without making this change, we were not only destined to make the same mistakes, but also create more challenges for ourselves to pay off our debt.
4. Not understanding our money attitude
When I…
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