I get asked all the time, "how did you pay off all that debt?". I honestly wish I could respond to that question by telling people that I snapped my fingers as Thanos did in the Avengers: Inifinty War movie and poof all my debt went away. However, I can't because life doesn't work that way... unless you hit the lotto. Reality is, I set a goal and didn't give up.
My name is Christopher Burdette, and I paid off $48,315 of debt in 30 months at the age of 26. This journey was not easy, but it’s possible!!! Here are three things that help me pay off my debt.
Motivation is the key factor in paying off debt and not quitting. My biggest motivation on why I started this debt-free journey was my daughter Aubrey.
In 2017 after my daughter was born, I had a car and student loan. I knew that once I paid off all this debt, I would be able to do two things for my daughter. First, I would be able to put money aside for my daughter to go to college debt free. Last and most importantly, I would be able to spend more quality time with my daughter.
Budgeting is a way to be in complete control of your money. Budgeting is your detailed plan.
When I first started budgeting using the EveryDollar app , I was horrible at it. It was not until I used the zero-based budgeting technique that I got good at it. Doing this technique, I realized that I had extra income that I could throw at my debt. In addition to that, I gained control of my money, and I haven't looked back since.
Sacrificing is delaying gratification. It is what determines how bad you want to achieve a goal. During this debt-free journey, I sacrificed a lot, but here are the top two.
First, I got a roommate. I'm big on having privacy; however, I was willing to give that up to save money. My roommate and I together pay around $1000.00 a month for rent, so separately that's $500.00.
Last, I stop eating out. I love food, and there wasn't a day I didn't think about going to Chick-fil-A and ordering a number one. However, I had to remind myself that I could get a lot more food at Walmart. This sacrifice was hard, but it created healthy habits. Currently, I meal prep every week and workout about three times a week.
This journey was difficult, but because I found my motivation, started budgeting and sacrificed, I'm debt-free.
I hope this blog post is insipring to those who want to take this journey. Let me know if you have any questions!