Larry & Lisa’s Debt Stories
“Debt is the slavery of the free.” —Publilius Syrus
Larry’s Debt Story
Being financially independent was always my goal. However, several years into my career, I found myself divorced and deeply in debt from various associated bills and other more common debts. I had so little money left after bills, I can remember once declining a dinner invitation at a friend’s house because I did not have enough gas or money to get myself there and back.
Lisa’s Debt Story
Money concerns weren’t an issue for me until I became a single parent of two young boys in my late 20s. I realized then that I would have to take care of myself financially. I needed to get out of debt so I could save and invest for my family’s future. Money was tight, and the only way I could take my boys out was to go to a local restaurant where kids ate free.
Combining Our Debt
When we married, we combined our debts and worked hard to pay them off with our limited financial resources. We set priorities and goals, developed action plans, and then worked through it all step by step. It was still not smooth sailing, however, as we had three small children between us. The kids had their own needs, priorities, and various expenses.
Overcoming Our Debt
Things really took off for us when we began researching our situation and looking for best financial practices which supercharged our efforts. Also, one of our better moves was to prevent budget and lifestyle increases if we had pay increases at work. We soon saw significant progress. Eventually, we found ourselves debt free except for our home, and the mortgage payment was reasonably low compared to our income. Once our debts were paid, we were free to implement our wealth plan. Compared to escaping debt, building significant financial abundance was a snap.
Our debt certainly had a negative impact on our day-to-day lives. But we considered ourselves very lucky that our debt did not harm our physical or mental health or even destroy our relationship.
You Can Escape from Your Debt Prison
Debt prison is when you must use nearly all your income to pay your bills. It consumes every part of your life. Like all good traps, falling into a debt prison is extremely easy to do. After all, you need not be poor to overspend your income. Even people who are well off frequently overspend.
Escaping debt prison is harder than it is to fall into it. Knowledge of the overall strategies and best tactics to escape debt is key. Without that knowledge, it is
much harder to escape debt’s clutches, and most people simply remain in debt forever. We want more for you.
We wrote Escape Debt Prison: The Tools You Need To Escape Crippling Debt to help our friends, family and everyday people like you escape debt prison. We did a lot of research and gained significant experience to escape our debt, and we are confident this workbook can also improve your life. Don’t let your debt suck away your hopes and dreams. You can overcome it and then move on to living a better life.
Wishing you much success!
Larry & Lisa Faulkner