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Indiana Couple Pays Off $800,000 in 10 Years

4 Minute Read

Hey, Dave, We're Debt Freeeee! Kevin and Dawn visited Financial Peace Plaza for their debt-free radio show call with Dave.

From 794,000 to zero in 10 years.

No, it's not some weird car brake system. It's the story of Kevin and Dawn from Corydon, Indiana. Just over 10 years ago, they were sitting on top of $794,000 in student loans, car loans, land debt and mortgage debt—or you could say it was sitting on top of them.

Now they are the ones sitting on top of the world! After seeing Dave at a live event and getting gazelle intense, they paid off every red cent they owed to become debt-free!

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"The thing that always goes through my head is when Dave was on stage and had the chains wrapped all around him," said Dawn, 40, when asked about the moment that registered with her the most. "Each time one of the chains fell to the ground, I felt like we could have more freedom."

Weighed Down by Debt

For Kevin and Dawn, those chains started when she was in the middle of dental school in Indiana and living off her credit cards. He had heard through the grapevine that his job would soon be cut, so he made the big sacrifice of selling his Camaro, Sea-Doo and classic truck to provide the starting income for his construction business.

They married soon after, and she moved into Kevin's two-bedroom house. They lived there for a year until  Dawn graduated from dental school and "doc-itis" set in. They upgraded to a larger home—one that was too much for them at the time. As 44-year-old Kevin said, "We just lived normal—making it and spending it."

A few years later, Dawn bought her own dental practice. "The building hadn't been renovated or updated in 35 years, so I got loans to buy the building and existing equipment, and the debts started piling up," said Dawn.

The Beginning of the Relief

Finally, the two of them headed to see Dave at a live event. Kevin had heard of Dave years before and had listened to him on the radio while he worked, but they hadn't start living out the principles yet.

It took a while for Kevin and Dawn to start making changes. But, when they finally did, they were all-in. "I wrote my debts down," Dawn said, "and every month that I looked at them, I got more focused and more aggressive." They also noticed that, with $135,000 in student loan debt, the regular payments they were making didn't seem to reduce the balance like they wanted.

That's when they really got intense and worked their budget even harder. Kevin continued to drive his 1985 Buick Park Avenue. "We had some land we needed to sell on a lake. That was one of the chains around us. And, eventually, we auctioned all the land off in one day," Dawn said.

From that point, the debt started dropping quickly, and Kevin and Dawn never looked back. They paid off $196,000 in student loans, sold their house ($225,000), sold their land ($355,000), and sold their car ($18,000). That's what Dave calls gazelle intensity!

The Other Side of Debt

They rented a house for 28 months after selling everything, purchased a paid-for house, and remodeled it with cash.

That's a total of $794,000 in debt, gone! On top of that, they were able to pay cash for equipment upgrades to Dawn's dental practice as well as Kevin's 13 knee surgeries. The unexpected expenses didn't derail them because they had chosen to live like no one else.

The hardest parts for each of them were sticking to the budget and resisting the urge to spend. "I knew we could've gone to the car lot and bought a car. When you are cruising down the road in a 1985 Park Avenue, and you pull up at a light next to someone driving a more modern car, it gets tempting," said Kevin. "But we had bigger plans. The big picture was to become debt-free and live in a paid-for house."

"Being debt-free feels incredible," said Kevin. Dawn agrees, adding that by applying the principles they first learned at Dave's live event, they have finally reached the other side and are starting to live like no one else.

Join Kevin, Dawn and over 950,000 others that have kick-started their path to financial freedom by seeing Dave live. Register now to attend an event this fall.

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