Many of us have our sights on making 2016 the year we take control of our finances. The year, we conquer debt once and for all. The year we establish financial security in our home and STOP stressing over bills.
Have you decided “enough is enough”? Have you told yourself “I work too hard to be living paycheck to paycheck?” or perhaps “We make too good of money to be in this financial situation.”
Will 2016 be Your Year?
Will it be the year you draw the line in the sand. When you say “no more” to financial stress, living paycheck to paycheck, the never ending cycle of debt payments. Will 2016 be the year you claim DEBT FREEDOM?
There has been a dramatic increase in people checking out the Calculate Your Debt Free Date post as well as the STOP Living Paycheck to Paycheck,and Paying Off Debt While Living Paycheck to Paycheck posts in the last few weeks. So, to say the least YOU ARE NOT ALONE! There are many of us who have had enough and are ready to get our finances on track.
Are YOU ready to shout at the top of our lungs “TODAY is the DAY! I am saying “NO” to living like “normal” broke people. TODAY is the day I am starting my financial journey. TODAY is the first day of a much brighter financial future for my family!
Debt Free in 2016
My husband and I started our financial journey 4 years ago with a pile of debt that amounted to over $170,000!!! Now we are looking at 2016 being OUR YEAR! Our year we claim DEBT FREEDOM once and for all!
After four years of budgeting, sacrificing and putting in the hard work to eliminate our debt. It is finally going to happen! That light at the end of the tunnel is bright, so BRIGHT! I can visualize us reaching debt freedom in the near future!
Standing her today, being so close to debt freedom, I am shouting to you in the tunnel that seems so dark at times. I am shouting words of hope and inspiration. Debt is NOT forever. Keep striving, keep budgeting, keep paying off those debts one dollar and one day at a time. You WILL reach this glorious feeling that overwhelms you with gratitude. The feeling of freedom, hope, and peace that debt freedom brings to your life!
I have anticipated the moment we can scream FREEDOM from the mountain tops so many times over the past few years. How good it is going to feel to owe absolutely NO ONE anything but love and respect. To have the peace of mind to know our financial future is promising with plenty of opportunities of outrageous generosity. The opportunity to raise our son in a lifestyle free from financial burdens. Debt freedom is within our reach with only $16,000 left to pay on our mortgage and we are inspired, motivated, and determined to break the chains of debt once and for all.
DEBT FREE in 2016!
Where do I Start?
You may be saying “Good for you Nichole, but I am not 4 years into my journey. I am taking my first steps to commit to a better financial future. Where do I start?”
- DREAM! – Dream about what life will be like when you are debt free. When you do not have a financial worry in the world. Dream what you will be able to do with all that “extra” money that will not be going off in the form of payments. If you are married, encourage your spouse to dream with you! What does your debt free life look like?
- Establish GOALS – What exactly do you want to accomplish in 2016? $5000 emergency fund? Pay off your credit cards? Start seriously investing for retirement?
- Develop a PLAN
- Immediately STOP using debt!
- Create a Budget.
- Gain Knowledge
- Take a Personal Finance Class
- Financial Peace University or a class through your church or military installation.
- Read a Book
- Read a couple articles on Budget Loving Military Wife
- Take a Personal Finance Class
- Get Inspired – IT IS POSSIBLE!
Will an Extra $20, $50 or $100 Really Make a Difference?
Do you have a difficult time believing an extra $20, $50, or $100 created by following a plan and busting your tail will make a difference in your finances. Well, here are some numbers that may just change your mind.
Carla has $2,650 in credit card debt. She desperately wants to pay off these debts in 2016. Her minimum payment is $74.97 each month, with an interest rate of 15.9%.
- Minimum Payment – If she continued to pay minimum payments without incurring another charge on her credit cards. It would take her 4 YEARS to pay off her credit cards.
- Extra $20/month – A measly 20 extra dollars per month. That is one less night of ordering pizza or spending $5/week less on groceries. Or babysitting for a couple hours each month. An extra $20… eliminates an ENTIRE YEAR!!! Her credit cards would be paid off in 3 years.
- Extra $50/month – That is going from premium cable to basic cable, one less restaurant meal for the family, or working an hour of over-time each week. This $50/month cuts her credit card debt payments nearly in HALF!!! It would take her 26 months to pay off her credit cards.
- Carla’s goal is to Pay Off the credit cards in 2016. Is it going to take $200 or $300 extra each month to pay them off???
Let’s try an extra $170/month – That is cutting cable tv and eliminating a couple restaurant meals. If she made the two sacrifices. She would be credit card DEBT FREE in ONE YEAR!!! She would reach her 2016 financial goal!!! I know this may seem “impossible” at the moment. However, once you have your monthly budget in front of you. See if you can eliminate or reduce a few expenses and try to create a little extra income. An extra $10-$20 here and there can make a HUGE difference in your monthly debt pay-off!
Ready to change your finances in 2016?
Why not commit to The $1,000,000 Challenge?
The $1,000,000 Challenge is a group of individuals who are determined to get our finances on track in 2016. We are all at different points in our financial journey. Some of us just beginning to take control of our finances and others who have been on this journey for five or more years!
We all have one common goal. A goal to pay off debt, save, and invest a combined ONE MILLION DOLLARS by the end of 2016!!!
This group will inspire you, encourage you, answer your financial questions, provide money saving tips, and hold you accountable to your financial goals! Join The $1,000,000 Challenge TODAY!!!