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Eight years ago, Sandra Campbell remembers excitedly moving into a new house with her husband, David. The Campbells had sold their smaller house for a larger one that they thought would be their home for a long time.
“About six months after we moved in, developers came in and built three-story apartments across the street from us in an area that used to be woods. We became disenchanted with the setting and decided to sell the home and get reorganized,” Sandra said. “What we could have done with all the cash we invested in the house and furnishings!”
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That’s just one of the lessons the Campbells learned during their journey to Financial Peace. Sandra says she came from a family who believed debt is normal, and David was perfectly fine using credit cards because he paid them off at the end of each month.
“When we got married 15 years ago, I remember using a Chase card for all our purchases because we got cash back,” Sandra adds. “But we realized that was no way to manage our expenses, so we sat down and developed our first budget together.”
What started as a small budget committee meeting turned into some serious gazelle intensity as the Campbells paid off $115,000 in only two years. “We knew we had to be completely debt free, including the house, so we could stop renting money and get on to living like no one else,” Sandra said. Listen to their debt-free call on The Dave Ramsey Show.
The Campbells’ passion has spread to their family and friends. Sandra said when their goal to become debt free came up in conversation, it gave them a chance to share their experience. “Several of our friends and family saw the wisdom in the process and have got on board, made their budgets and are working on becoming a member of the debt-free club.”
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Sandra said she and David have been able to offer advice to family members. “We have told our children to stay focused on the baby step they are on and have a budget meeting each time they get a paycheck. Money management will become easier as they make it part of their routine, and they work on their goals together.”
The Campbells say they are enjoying their new life while continuing to follow the principles that freed them from debt. “We are still getting used to the feeling of not having to pay a house payment and interest to a financial institution and getting to deposit all our earnings in our own account. We are looking forward to the next phase of our lives as a debt-free family!”