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How They Split Debt
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How They Ditched Debt
They tamed debt in their own way. Check out their tales to inspire your own payoff process.
The article was written by Amrita Jayakumar Writer The Washington Post Amrita Jayakumar is a former special assignments writer for NerdWallet. She also wrote a syndicated column about the millennials and money. She also covered personal loans and consumer credit and debt. In the past, she worked as an editor at The Washington Post. Her work has appeared within The Miami Herald and USAToday. Amrita has a master's degree in journalism from The University ofMissouri.
Written by Kathy Hinson Lead Assigning Editor Personal finance, credit scoring, financial management and debt Kathy Hinson leads the Core Personal Finance team at NerdWallet. In the past, she worked for 18 years working at The Oregonian in Portland in positions such as copy desk chief and team editor and designer. Prior experience includes news and copy editing for a variety of Southern California newspapers, including the Los Angeles Times. She received a bachelor's degree in mass communication and journalism from The University of Iowa.
The majority or all of the products featured here are provided by our partners, who we pay. This impacts the types of products we feature and where and how the product appears on a page. However, this does not affect our opinions. Our opinions are entirely our own. Here's a list and .
How Two Teachers Wiped Out More Than $53,000
Jae Bratton as well as her husband
This rumor about children being cost-conscious? Fact! This is why Jae Bratton and her husband who was a teacher with whom she worked was focused on paying their debts in the three years leading up to the birth of their first child.
From $20K to 0 in 5 years and 8 Steps
Photo taken by Jonathan Sharpe
It took a few yearsand almost every method in the book- for Kenley Young to wipe out more than $20,000 in charge card debt. In that time Kenley Young learned a lot about how paying down dreams can be entangled in reality major life situations. Now a NerdWallet editor, the author reveals what tools made the biggest impact on his journey to reach $0.
The pursuit of a goal leads to Helping Others
Photo taken by Sandra Leigh Photography. Sandra Leigh Photography
The present of a book about personal finance inspired Holly Carey to get serious about understanding and removing her debt. She was introduced to zero-based budgeting, and cut back on expenses whenever she could, for example, sharing a room with a friend. After spending less than $55,000 in 26 months, she was compelled to share her advice with family and friends -and ultimately, she landed an editor position at NerdWallet.
Pandemic After Payoff Tests Couple's Resilience
A few months before the COVID-19 disease struck the United States, Anthony and Jhanilka Hartzog paid off the one-third of their $114,000 debt. They'd devised an effective budget for them, and they'd created new income streams and took advantage of a reduced cost of living following the move from New York to Dallas. We spoke to them nearly two years later -- were the Hartzogs successful in avoiding debt even in the midst of the global pandemic that was straining the finances of numerous families? What advice do they have for others looking to get rid of debt on their own?
The Home is being remodeled, and the Business is growing the business
After job losses slowed down household incomes for Karen Akpan and Sylvester Akpan, the couple made the bold choice to move out of their home in Los Angeles and buy an RV. They set their sights on expanding their travel blog and an associated Instagram account and were able pay off their debt in a year. The way they went about it is unique but it is a sign of an underlying truth: reducing costs and increasing income yields more cash available to tackle debt.
Getting On Board With a Budgeting for Baby
Former Zookeeper Steffa Mantilla says she didn't use any animal training techniques to convince her husband to come on the same page with his plan to reduce debt.
However she might have persuaded him, the Houston couple have paid off over $70,000 of debt over five years. Planning for a baby was the catalyst for their money makeover.
Eliminating small expenditures was achieved is a Major Goal
Refinancing students loans was the first step in the payoff journey for Neal and Laura Fogarty. They then searched for expenses to trim to make sure they could use every dollar they earned towards eliminating debt. They paid off $36,600 over eight years.
Rebounding From Bankruptcy
Rashad and Nirvanna Muhammad slogged through student debt and financial struggles when they were married and began to build a family. After experiencing a bankruptcy, they narrowed their focus and made the sacrifices necessary to pay off $179,000 in just less than four years.
You're Keeping a 'Passion to Fashion on the road to Repayment
The prospect of a fresh start in her lifewith a house and a family -- inspired Caitlin Forni to get more serious about paying down her debt. She paid off $123,000 in car and student loans in nine years.
A Spender, a Saver and the Dreams of a Family
As Kendall Berry and her husband began to plan for children, they got serious about repaying their debt. This is how they paid off nearly $54,000 in just one year.
'Happiness Journey' Fueled Payoff
(Photo taken by Abby Bengs)
After incurring more than $200,000 in student loans for law school, Okeoma Moronu decided to take a purposeful approach to her financial and personal life and paid off her debt in six and six and a half years.
From 'Extravagantly Bloke' to the Comfortably Frugal
DeShena Woodard, a nurse from Texas, had nothing in savings and lived paycheck till payday until the day she changed her habits and was able to pay off over $50,000 in just three years.
Small Splurges on the Path to Freedom
Brian as well as Lindsey Baldwin wiped out $130,000 in student loans in under four years. And they still managed some treats for their families along the way.
Small wins can help you achieve a Big Dream
Bernadette Joy and AJ Maulion paid off student loans and two mortgages, a staggering sum of $309,800 while building a small business. The recipe for success: Live on a single salary, celebrate small wins.
Whipping Up a Payoff 'Tornado'
When Steven Donovan didn't want to plug his debt numbers into a budget app He knew he needed to act. In the end, tackling his most hated debt helped him pay off $118,000 in five years.
"I Just Pretended I didn't have Money'
Sarah McGowan's aim was to be free of student loans when she reached 25. By maintaining a frugal life right after college and taking advantage of every opportunity she could, McGowan got rid of a little over $36,000 in debt in just two years.
"It made our marriage so Strong'
(Photo by Amelia Campbell Photography)
Ray and Bailey Robertson paid off over $33,000 in 18 months thanks to a shrewd strategy, lean lifestyle, close partnership and lots of planning.
Redefining "Best Life," Reducing the size
Sonia Sears ended up deep in debt while trying to live her "best life" at university and later. But she conquered her mountain of debt by working harder while traveling less, and then returning home. She paid off $79,000 in just over two years.
The Frugal Lifestyle is Kicking into High Gear
Ben and Melissa Panter were always frugal However, when they had to face an enormous mortgage and increasing student loan balances, they realized they needed to shift their frugality into high speed. The Panters have paid off $117,000 in just over four years.
Food Planning, Side Jobs and Faith
(Photo by Brok (Photo by Brok Amanda Hansmeyer)
As teachers, Jamie as well as Jenna Griffin were overwhelmed with student loans. They employed their budgeting skills and perseverance to pay off over $100,000 in five and five-and-a-half years.
How to Make the Most of a gig economy
(Photo taken by Shane Henderson)
Kara Perez doubled down on part-time jobs in order to repay student loans that totaled $25,302 in three and a half years.
Holiday expenses can eat away at a couple's Budget
Christmas gifts piled over existing debt led Anthony Hartzog and his wife to pay off $114,151 within 23 months.
The Thrifty Living along with Side Gigs
By balancing her budget, working full-time and supplementing her income, Tanya Nwamkpa completed the repayment of $57,000 in just five years.
"We Have Choices And Again'
Their finances began to slide due to a loss of jobs in 2009. Despite making mistakes along the way, Adam and Sally Cleary have gotten out of more than $11,000 of high-interest debt.
Conquering College Credit Card Balances
Natalie Tomko aimed to pay off $50,000 credit card debt by her 30th birthday. It took her six years, a plan for hardship and support from the community to achieve it.
Change in Habits, Budgeting for a Baby
After discovering that a child was on the way The Baggerlys overhauled their carefree spending and began budgeting. two children later, they paid off $111,108.
Smart Solutions for 'Stupidest Decision'
Cameron Merriman paid $95,000 of student loan debt in just five years, while living in one of the most expensive cities in the country.
"It was a Game to Us'
Josh as well as Jessie Boyce paid off $147,000 in debt in just more than three years after realizing that debt was keeping them back from financial freedom.
An Olympian's Medal-Worthy Juggling Act
John Coyle's loan of $147,000 was used to finance his Olympics race, and, after being offered a six-figure job, Coyle paid it off over 15 years.
Affirmative Concentration on the End Goal
A recent college grad Samantha Ealy paid off more than $70,000 in less than three years doing multiple jobs and at times even neglecting her health.
The process of becoming a budget obsessive
A combination of student loans and the car loan, credit card debts, and home improvement financing has left the Browns with debts of $72,000 which forced them to come up with their own budget.
Engineer Reminisces Old-School with Pen and Paper
Despite receiving scholarships, Brianna Harrington graduated college with $40,000 in college loan debt. Determined to eliminate it her debt, she created a budget that was strict for paying it back over 26 months.
Distinguishing Pride Away and Asking for help
Jesse Nuno was laid off during the recession and was in debt on mortgages or auto loans. Cara couldn't pay her bills due to disability. The couple turned to a credit counselor to pay off $272,261 over five years.
A Wish List Kept Her Going
(Photo taken by Jim Gion, 2015)
Melanie Lockert set out to wipe out $57,426 in debt and encouraged herself to do so by writing wish lists of things she'd like to be able to do after becoming debt-free.
"Born Spender" goes on a Spending fast
Anna Newell Jones entered married life with a debt of $24,000. She forced herself to go on a spending speedy pace and paid it off in 15 months.
New Parents Stop Credit Cards
Lydia Senn and her husband claimed they didn't have a lot of debt until they found out they were expecting the first of their children. Working part-time jobs and budgeting helped them pay off $36,000 within just two years.
Grads Give A Gift to Her Future Self
Ogechi Igbokwe didn't want to become another students loan statistic. To set herself up for success, she lived frugally and paid off $26,000 over three years.
Financial Goals Are Family Goals
The newlyweds Nicole as well as Andy Hill saw debt as a roadblock to achieving goals. The couple turned budgeting into a routine and wiped out almost $50,000 of debt in the span of one year.
There is no rest for the new parents Till Payoff
Chelsea as well as Nate Day ended up owing her family $52,000 following an unintentional home purchase. The family debt left the Days uncomfortable as they cut costs to pay it off over six months.
Homemade Tracker Kept Her Cooking
Chef and food writer Stephanie Stiavetti racked up debt to pursue her culinary dreams. But she knew the if she did not change to a more relaxed lifestyle, she'd be stuck with debt of $64,000 for decades.
I was newly single, and I knew I Had to Help Myself'
At the age of 25 Carrie Smith Nicholson found herself divorced and owed $14,000. She realized she would need to find a new job, cut down on spending , and get herself out of the hole.
Learning to be a student with Student loans
After college, Kara Stevens found herself struggling with student loans as well as credit card bills. Once she was educated about the subject, Stevens determined to take on the issue head-on and pay off $65,000 over six years.
The Extra Payments She Received became Her Obsession
After Jackie Beck lost her job and was unable to pay for food and housing She was forced to face her financial obligations. Beck was obsessed with the smallest payments and paid off $147,106 in 10 years.
Making the most of Cents
At the age of 23, Michelle Schroeder Gardner earned three college degrees, gotten married and bought a house. She graduated with $38,000 of student debt , and decided she'd be able to pay it off as quickly as possible.
Money under 30
David Weliver didn't tackle his $80,000 debt until he was faced with an unpopular choice: pay rent or pay for a debt from his credit card. He consolidated his debts, cut his expenses and landed at a second job to pay it off within three years.
Lauren Greutman
Lauren was a shopper, was ashamed to let her husband Mark, a saver, be aware of how poorly she had managed their finances as a family. When she acknowledged the problem and changed her spending habits she paid down $40,000 in two years.
Money Peach
Chris Peach and his wife Andrea had a rough time when they maxed out their credit cards and couldn't pay for food items. Peach was a firefighter in training, applied a step-by-step approach to pay off $52,000 in seven months.
Debt Discipline
Brian Brandow had his debt epiphany when the father of three had to tell his family there'd be no vacation this year. The Brandows had exhausted their credit cards. They used a debt management plan to pay off the balance of $109,000 in four years.
Cait Flanders
In her early 20s Flanders accrued debt of more than $30,000 after saying "yes" to every purchase. By monitoring expenses and cutting down on spending on unnecessary items, she paid it off in two years.
Active Budgeting pays off
Newlyweds and recent graduates with a debt of $20,000, Johnny and Joanna Galbraith decided to develop an attack plan and make it clear that they were in the red. They paid off the debt in 1.5 years.
My Shiny Nickels
Laura Dobbins and her family lived in an elegant home with all the amenities of wealth however, they were $4000 in credit. They restructured their lives and started saving. And within a mere two years, they had become debt-free.
Smart Spending, Dedication
Zina Kumok graduated from college with $24,000 in students loan debt. Since she was earning an average of $28,000 per year, she realized she had to get serious about the debt. The debt was paid off in three years.
The Family CEO
Julie Mayfield and her husband had to take on 18 years of debt -- totaling $59,000 -- to help finance their daughter's first year of college. They put any money they had to use towards debt, and then paid it off in 22 months.
'Monster Payments'
Amanda Page graduated with $48,500 in student loan debt. After 10 years, realizing that she had paid off less than $1000 of her balance after which she resigned herself to additional work. She employed a plan to make "monster payment" to pay off the debt over 14 months.
Penny Pinchin"Mom
Before getting married, Tracie Fobes declared bankruptcy to pay off debt. But by the time the couple were expecting the first baby, they had accumulated $37,000 more. Discussions about money led them to complete the repayment in just over two years.
Queen of Free
Cherie Lowe and her husband Brian were carrying more than $127,000 in debt spread across payday loans, medical bills and student loans. After the birth of their son, they spurred an overhaul in their lifestyle, and they were debt-free after four years.
The Budgetnista
(Photo by Tinnetta Bell.)
Tiffany Aliche was saddled with $55,000 in graduate school loans, $40,000 in credit card debt, and the sum of $200,000 due to a mortgage that was in default. Then she returned to her home and opted for an all-cash lifestyle in order to get rid of the debt.
A Wallet that is well-kept
Deacon Hayes and his wife Kim used credit to fund their lifestyle. In the event that they were in debt and living paycheck from paycheck to paycheck, the couple decided they had to take action. The Hayes paid it off within 18 months.
His and Her Money
When they were newlyweds, Talaat and Tai McNeely were financially different and had approximately $30,000 of debt. They made a living on one income, and utilized the other to pay off their debts in a year.
Debt Free Guys
John Schneider and David Auten had years of experience in the financial sector -- but they still managed to accrue $51,000 of debit card balances. They cut down on expenditure, utilized the balance transfer method and paid off the debt in 18 months.
From top to bottom
About the writer: Amrita Jayakumar is a former writer at NerdWallet. She previously worked at The Washington Post and the Miami Herald.
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