How we got rid of $40,000.00 worth of debt
First, my brother in-law totaled our business truck, which we owed $25,000.00 on. We didn’t want to lose our truck, but we did. Then we realized we had an oppurtunity. We decided not to replace it immediatly. We used the extra insurance money (it was worth more than we owed on it) to pay off a business loan instead. Then we saved several months of truck payments in order to have a down payment.
Second, our area survived a 1000 year flood this past year. To our dismay, as we were flooded in at our home, our RV/Motor Home was severally damaged by the water, too. Old-timers couldn’t remember the rivers ever being this high.
We loved our RV. We love RVing. Nonetheless, just like before, we decided to not replace the RV, but use the extra freed up money in our business instead. We wanted out of debt.
Third, when we received our tax return last year, we used it to pay on business dept, rather than buy that rope horse Ryan really wanted or go on the vacation to see our daughter in San Diego that we really wanted to go on. Tough choices.
So the moral of the story is not to damage your belongings, but to take advantage of your circumstances. I like to believe that bad things sometimes happen to you in order for better things to come along. Sometimes you have to just believe.
Incidentally, how our get out of debt process got started was not planned and is probably not recommended. LOL
Out of Debt Theories
Also, I keep telling myself Dave Ramsey’s theory of “Live like no one else today, so that you can live like no one else tomorrow.” This is our plan.
Here is hoping for happy finances in the future!!! And if you want to learn how I made my first $40.00 dollars online check out this post 😉
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