Whether you have $40,000 or $400,000 in loans looming ahead, take heart: It just might be the start of your own inspirational tale.
To live the normal American adult life means life in the hole. That is, you're in debt. Before you despair, perhaps you should have a look at one of these five bloggers who decided normal wasn't the life for them and managed to climb their way out.
Millennial Money Man: This newly minted high school band teacher knocked out $40,000 in student loans in two years. In addition to offering plenty of tips on tackling student debt, he has plenty of ideas on starting your own online side hustle to bring in more cash.
Oh, These Student Loans: For nearly 7 years, 29-year-old Jessica Elberfeld has blogged about her quest to pay her way out of over $100,000 in student loans, with the help of Dave Ramsey’s Debt Snowball and side jobs. Unlike her other debt-busting cohorts, posts read more like a diary, but those who are struggling should find plenty of support and stories here that will have them nodding along.
Family Money Plan: When this young father announced his plan to pay off his $320,000 mortgage early, everyone thought he was crazy. That told him he was on to something good: “If everyone thinks it’s impossible, you could be on the right track, or you could be crazy. Dig a little deeper to see which one it is. Then take action.” Spoiler: Six years later, he did it. See everything they gave up on their journey to mortgage freedom.
Mr. Money Moustache: This 30-something engineer and his wife are early retirees living on passive income, or as he describes it, “financial freedom through badassery.” While not a debt-conquering blog per se, there’s plenty here to help you live on less — which is essential to pulling out of debt. For starters, try your hand at feeding your family on $80 a week.
Our Debt-Free Family: After escalating child-care costs forced a mom of two to stay home, Monica Louie found a new ambition for her family: In two years, her family paid down $120,000 of debt and put $40,000 into savings, all on a middle-class income. She offers practical insights, such as common categories that are often missing from monthly budgets. Monica recently sold Our Debt Free Family and is launching her new site MonicaLouie.com later this month.
Whether you have $40,000 or $400,000 in loans looming ahead, take heart: It just might be the start of your own inspirational tale of overcoming an obstacle and creating a new life for yourself!