Today we’re going to hear from Cathy, who emailed me last month to let me know that she hit a VERY impressive milestone – she and her husband paid off their house! This is one of my big goals so I asked her to write in for the Reader Spotlight which she graciously agreed to do. I can’t wait to hear her story, so I’ll let her take it away…
On August 5th, 2010, my husband and I became debt free!! The wire transfer to pay off our house went winging through space and fulfilled a dream that I never thought would happen. In four years we have refinanced our house, consolidated bills to pay off three credit cards, paid off a student loan, and even purchased a few appliances when the old ones completely quit working. This wasn’t something I could even imagine four years ago, and now it’s a reality! Over these four years, my husband and I have completely changed our way of thinking about money and our spending and saving habits.
It all began Christmas four years ago. I had just left a local store after purchasing $100 of make-up and perfume I was not sure I needed or wanted, and I knew that the way I spent and handled money had to change. After Christmas I sat down and figured out our bills and got scared and determined. I knew I had to get control of our money and pay off those debts. I started researching ways to save and came across a super simple idea: coupons. I could not remember ever using a coupon in my life but was willing to try. So my journey began.
I started with a free trial of well-known program that matched my sales and coupons. I did have to pay for the site but it was worth it. After about 6 months I realized I could get this information for free from other sites. So I cancelled my membership and started matching the sales and coupons myself. I bought as much food as I could when on sale and stockpiled. In a few years I had a couple of pantries of food, two freezers full of meat, and paper goods in the basement.
But coupons were only a small part of the plan. The Complete Tightwad Gazette by Amy Dacyzn became my money-saving bible. I read and reread this book and tried a number of different things to cut our expenses: I cooked basic meals out of my pantry instead of buying specialty ingredients that we’d only use for one or two meals. I went to yard sales, thrift stores, and consignment stores when before I’d go to department stores and the mall. Pretty soon my husband noticed all my efforts and jumped on the bandwagon. He started researching and deal-hunting before any major purchase so that we could spend as little as possible for the things that we needed and wanted.
I did a lot of little things to save a few pennies, which then grew into dollars. I bought surge protectors for all the electronics in our house (with the exception of the computers), and turned off all our electronics when they weren’t in use. I turned off the water when I brushed my teeth and while I washed dishes. I have always taken my work clothes to be dry cleaned, but I tried handwashing and/or the delicate cycle instead. I started learning new skills like basic sewing and mended my own clothes. I expanded my baking skills beyond the basic box mixes and made brownies, candy, and cupcakes for Christmas and birthdays. Surprisingly, they went over better than a store bought gifts!
This isn’t to say that everything I tried worked out – this was a process of figuring out what worked for us and what didn’t. I tried my hand at bread making but found it too time consuming. I had hoped to start a garden this spring and can some of my own food but that also did not work out. I even experimented with a navy shower but that did not last long. There are some things that a girl cannot sacrifice and for me that is my long, hot shower!
When we paid off one bill we snowballed the money into the next largest debt. Pretty soon we were living on my husband’s salary and my whole paycheck was going into the savings loan. Any unexpected money that came our way – profit sharing checks, money made on the side, or rebates – were put toward our effort in one way or another.
I do not want anyone to think that all of this made for a nose to the grindstone, no-fun life. In these four years we have changed our attitude about money and learned to be content with what we have and to live within our means. I was able to sleep at night as the economy got worse because I knew we could weather the bad times. It might sound like a cliche, but my husband and I had really discovered how to take pleasure in the simple things in life!
Now, I know that what we have done will not work for everyone. We are a two income, no children family and we both have good jobs that have weathered the recession so I know that we are incredibly blessed. But I’m sure that everyone can use some of these tips as they work toward their own goals of financial freedom. I’ve got to tell you, it’s a great feeling!
Thanks so much for sharing, Cathy! Your story is an inspiration for all of us, no matter what financial goal we’re working towards!
In order to keep this new feature going, you all are going to have to volunteer to tell us all about something YOU do when you are couponing!! Your post can be about almost anything to do with couponing. You can tell us about a particularly good or bad situation you’ve dealt with as a couponer, about how you got into couponing or how couponing has impacted the rest of your life, you can make a list of things every new couponer should know…just about anything, really! If you think it’s interesting and it has to do with couponing, email me with your idea at contactiheartpublix @ gmail.com!
Is that the complete name of the book, “The Frugal Zealot”? I can’t find it online, only the “The Tightwad Gazette”.
Thanks!
Yes, that is the correct book- Amy called herself “The Frugal Zealot” as a nickname.
Yes it is the Tightwad Gazette. I bought the books since I could carry the around with me but most of the information is available online. I think there are a few books that are more current than this book. It was written in the 90’s and some of the information is obsolete. But the attitude she had helped me so much.
I too am interested in this book “The Frugal Zealot”. The author is not coming up anywhere also.
Thanks.
Lucy, I can lend you my copy if your library does not have it. It is an old book. There are some by Mary Hunt(I think her name is) and the Duggars that are more current. You might try the library before buying.
I’m thinking it must be “The Tightwad Gazette”, too. One site uses “The Frugal Zealot” as the authors pseudonym (Amy a.k.a. the Frugal Zealot Dacyzn)
I added a link to the book I believe she is referring to 🙂 Hope that helps!
Congrats on paying off your house, Cathy! That is such an amazing achievement and one of the long-term goals my husband and I also share. We are BIG Dave Ramsey fans, so we are in the process of paying off all of our debt except for the mortgage. We’ll be debt free next month! No more car payments, credit cards, or student loans…and I’m only 23!
Thank you and yes Dave Ramsey is my hero. I went through a class called Crown Ministries that our church held at the beginning of this journey. It really helped a lot but it is Biblically based so I know that it is not for everyone.
Kristen you are doing GREAT. I had to hit the 40’s before I realized that I can do this.
My husband and I love Dave Ramsey and The Total Money Makeover is an awesome book to read to help get you debt free. I was around 23 when I had my first baby. We realized that having the debt we had was not going to allow me to stay home like I wanted. So, my husband and I worked really hard and we paid off all of our debt (minus the house) in about 2 years. I am not able to stay home with our children, we have plenty of money in the bank, enjoy a good, but simple life within our means and this economy doesn’t scare us. God really blessed Dave Ramsey with knowledge, wisdom, and the heart of a teacher!
We have been on the Dave Ramsey plan for awhile – there are some months that are really hard and our envelopes are empty, but using cash instead of credit works! Congrats on paying off your house! Very Cool!
Patty, it works. Credit cards make it easy to forget this is money. Keep going even when the time is tough. The feeling is worth more than anything.
Couponing has really changed my life .Back in november I had to quit my job due to seizures I started having again Things got really tight n it seemed I was spending 100.00 a wk n getting nothing. Then in march of this year things got worse my seizures returned again full force I have been out of work since then if it hadnt of been for my friend sherri telling me about iheart n showing me this new way of couponing . This week my bill averaged 80.00 and I will only pay 13.00!!! How awesome is that ty so much for allowing me to save so much money to where our family no longer has to go without some of their needs being met 🙂
Melissa, that is great. Seizures can be tough, my sister has epilepsy so I have seen it first hand. Now that you have started you can expand and try to save more if you feel like and your health permits. Let me know and I will try and help if I can. Being sick is the pits.
Cathy
That’s amazing! Congrats! My husband and I have made sacrifices too in the entertainment end and have eliminated much on the extras. Still have a long way to go, but I only started earlier this year. This gives me that extra hope, that we too will be debt free in 3 or 4 years!
Brandy, keep going. Entertainment was the first to get cut down. But it was the easiest. You can do it.
I agree with Kathy, we started with $2k and 2 ten year old vehicles. We have never made over 90k and maybe 65k average combined but SMART buying and coupons have put us well on our way. We do not have any debt and have not for 8 years. We own our home, and significant additional investments in 15 years of smart shopping, managing and hard work. It has to be a team effort and could NOT have achieved it without it being just that. I remember 12 years ago my colleagues at work saying “you must be eating dog food” when I explained my grocery bill. The lessons have always been there people have just started noticing them. GOOD JOB KATHY.
Thanks m!. To be honest that is about what we make a year combined. And yes, I had coworkers laugh at me as I ate my brown bag lunch instead of ordering in with them. I am so glad that I will be able to sleep since we are debt free. Plus I have been able to help my family members who need is so much more. Go to the pantry and the freezer and make a box of food and HBA for them.
What’s sad is in my experience, those coworkers and neighbors are becoming the ones who have loose everything. Some of the parents are now are so embarrassed they avoid everyone. Their children are our kid’s friends, our kids don’t quite understand, but our 10 year old is beginning to understand some, she takes extra snacks every day to school for those friends. Point being, hopefully we can keep our children from falling in those same traps, they’re sure to reoccur in their lifetime.
Being debt free is great! We have been debt free including our house since 2001 when we were in our early 30’s. From 2001-2005 we spent thousands of $ on infertility treatment and eventually adoption. This process would have been much more difficult if we would not have been debt free. When we adopted our baby in 2005 I was able to quit my job without a doubt that it was the right thing to do. Our child has a 100% paid for pre-paid college plan set-up and this is kind-a morbid but we all have a burial spot (even our child’s future spouse) (my family has a family Church and it has a grave yard next to it. All of my relatives are buried there so that was a no brainer to go ahead and get the plot. Life is so much less stressful if all you have to worry about is food, utilities, insurance, retirement savings, future cars etc… Even though we are debt free we still live a modist lifestyle and on a budget. It is possible and I encourage each of you to live within your financial means. You will not be sorry.
Darla, no family plots but we are making an appointment with a lawyer to make arrangements on disposing of our property in the event of both of our deaths. That was a hard decision.
Congratulationso on being debt free! A friend turned me to Dave Ramsey’s books a couple of months ago. I LOVED Total Money Makeover. We are a single income house (I stay home with our 2 kids). We were “victims” of the housing market…our house is now worth $30,000 more then we owe, which scares us like crazy. Our biggest problem is that we spend too much on eating out and entertainment. We live in the woods in FL, so if we want to go anywhere, it costs us lots of $$$ for gas! I’m trying to set a goal for 3 years of being credit card debt-free.
For those of you who are in their 20’s and debt-free…KEEP IT UP. I’m 31, and wish I had had that kind of guidance when 10 years ago!
We are currently working to pay off our 2nd house!! The feeling of being debt free and outright owning your home is such a wonderful feeling and one that most people don’t aspire to. Congratulations!
I love the Tightwad Gazette. I bought all three second hand (naturally! lol) and I use them even now. I am big into environmental and green causes, so recycling and buying second hand (where appropriate) seems logical and in keeping with my beliefs, and I love saving money. I do put some limits on things due to storage space (I don’t want to hoard things. One of my other ‘things’ is watching A & E’s Hoarders lol). But she offers great ideas for spending as little as possible in a reasonable way!
I am very close to debt-free myself, while simultaneously beefing up my savings with ‘found money’ from rebates and Pine Cone Research checks! 🙂
Thank you for sharing your story Cathy! This is our goal, too! We took a Financial Peace University course at church at the beginning of the year, and are well on our way to paying off our mortgage. We did not have any debt when we started FPU. 🙂 My mother laughs at us, because she doesn’t think it can be done. The sad thing is she is broke, and will always be broke because of her spending habits/lifestyle. Thank you for sharing this encouraging story!
Way to go Cathy!! Your story is so inspiring! I’ve been frugal for a long time and use to get the Tightwad Gazette subscription before Amy compliled it all into a book!! It really does make a difference to spend wisely so you have the freedom to make choices for your life that being in debt doesn’t allow you to do. Also, like someone else said it’s good for the environment too!! Buying less and living simple….is the way to go in my opinion!!
I too would love to be debt free. My husband and I are trying, but not quite there. At the beginning of the year we had $4800 in credit card debt. Now we have $0. I was working part time and used my income to pay off the credit card. Now I am able to stay home with my son. We still have a car payment that will be paid off in 1 year although I would love to have it paid off in 6 months. Not sure if that will happen with me staying at home. But I do feel great knowing I don’t have the credit card bill looming over me.
Cathy/Cejay,
I loved reading your story! But more than that it was great reading your comments back to everyone and how encouraging you are. Thanks!
B (Home owner with no mortgage! Yay!)