Proverbs 22:7 says “The rich rules over the poor,
And the borrower becomes the lender’s slave.” (NASB)
We have a major announcement.
That’s right… 22 months after we started, we are out of debt!
Seriously. It hasn’t quite sunk in for us either.
Feels a little anti climatic, right? :-)
In Dave Ramsey style….. FREEEEEEEEDOOOOOM!
For a final ‘by the numbers’ here is how the numbers break down:
Extra Debt paid: $5,116
Total Debt paid in October: $5,362
Since 1/1/2012 – Total Debt Paid off: $46,453*
*For the purpose of Baby step 2 we are not factoring in our home mortgage
There you go.
A few more numbers to consider while letting that number, $46,453, sink in.
•6 months on only 1 income
•6 months of steep COBRA medical premiums
•4 months of slow small business income
•1 HVAC system
•3 Student loans
•2 Medical bills
•5 consignment sales
•1 garage renovation
•1 baby born
One item that has been an uncountable blessing, is the support of our family and friends. From gracious understanding on the numerous times we declined going out to eat to the boxes of hand-me-down clothing and piles of gifts for our little boy. We truly could not have done this without the support of loved ones.
Thank you LORD for providing for us. Thank you for entrusting us with funds and teaching us to be good stewards. Thank you for giving us strength and endurance to do what is right with your money, even when we didn’t feel like it. With the wisdom of Proverbs 22:7 in mind, we choose to not become the lender’s slave.
In closing, while the monthly “by the numbers” posts are done, we will be chronicling our next steps. Dave Ramsey’s baby step 3 is an emergency fund to cover 3-6 months of expenses. Feel free to drop by and see our progress as we move forward, aiming for step 3.