When we got married in August 2014, we were both fresh out of college, had never really lived on our own (aside from the two months I lived with two of my best friends the the summer before the wedding), and we had mounds of student debt. Honestly, the amount of debt we have is horrifying.
If you’ve never been in debt, it is not a good feeling. We both have quite a bit of Federal Loan debt and I have a mountain of private loan debt. The interest we gain each month on the private loans pretty much evens out with the payments we make each month. Even from the first month of making payments it felt like we would never keep up. We are blessed to have my parents helping us out paying a little bit towards our student loans each month, which we are beyond thankful for, but it still felt like we weren’t making any progress on our loans.
We knew we needed a strategy. I spend hours researching if it was more wise to pay our largest debt first (avalanche ) or our smallest debt (snowball). In this research, I stumbled upon some resources by Dave Ramsey.If you’ve never been in debt, it is not a good feeling. We both have quite a bit of Federal Loan debt and I have a mountain of private loan debt. The interest we gain each month on the private loans pretty much evens out with the payments we make each month. Even from the first month of making payments it felt like we would never keep up. We are blessed to have my parents helping us out paying a little bit towards our student loans each month, which we are beyond thankful for, but it still felt like we weren’t making any progress on our loans.
If you are struggling with money, I highly recommend that you look into taking a Financial Peace university class. We already feel like there is hope for us and we have set some really high goals! We are excited to share our Financial Peace journey with you as we go along, and we hope to encourage you to handle money the way God wants us to!
I really appreciate you and your spirit of smart work.
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