Financial Freedom

To be free from debt has been a dream for Philip and I since the day we got engaged. Really.

We took a finance class called Financial Peace University by Dave Ramsey when we were dating and the principals really stuck. There were no delusions–we were both fully aware we’d have to enter our marriage with a boatload of debt.

After Philip left the Marine Corps he began to pursue his lifelong dream of becoming a commercial pilot. At the time, the GI Bill did not cover actual flight training. But he was committed and determined. So he used all his savings from the Marines and then started racking up credit cards–about $6,000 worth.

My debt also came from school. I went to a private college and accrued about $45,000 in student and private loans. I also had a car payment with about $5,000 left on that loan.

The debt was crippling–even with the solid financial plan from the Dave Ramsey class. It’s all we focused on for the first four years of our marriage. And we’re not done. But we have paid off about $41,000 over the four years, and are determined to take care of the rest as quickly as possible.

It’s not easy and there are so many sacrifices we have had and will continue to make.

We know it’s worth it. The day when our income is no longer slated for loan payments is our dream. Whatever it takes to get there, we’ll do. Because we know that it means freedom.

This is where the decision to live tiny is coming from. We’re not trying to make a stance on environment or politics or culture (although our focus on tiny living certainly does offer perspectives on each of those)–it’s more economics than anything.