In 5 years we paid off $20,000 of debt and medical bills on an average income of $22,000 per year.
We didn’t have $20,000 debt when we were married. My husband had $3,000 in credit card debts at the time. Over the 5 years we made 2 major moves, killed 3 cars, and our daughter was born and placed in Neonatal Intensive Care (the insurance paid all but $7,000 of her bills) Click here to see the list of debts and payments
During the 5 years we have been married, our income averaged $22,000 a year. The first year we earned $13,000 and steadily went up to $28,000 in 1999. We paid off $10,000 in debt and medical bills in 1999, so half of the debt was paid off when we were earning the most money. You may wish to see our budget from 1999 (before my husband was laid off). Our basic living expenses were $18,000 [Read more…]