I sense changes are coming. I can’t say anything specific because nothing is confirmed. Doors seem to be opening and I’m hoping that we can step through each of them in faith that this is the best course of action. The biggest impact these changes will have is financially.
In the last few days, I’ve begun to voice aloud the hope that our family will be able to pay off all of our debts before my 40th birthday. (It seems so monumental to be using the word forty in the context of my life. I just graduated from high school!). My 37th birthday is on Sunday and I’ve been in a goal mindset lately. Is it reasonable to think we might have some financial freedom within the next three years?
We used to be consumer debt free with only student loans to our name. However, adoption is expensive and we had to rely on credit cards to get us to China. Then our car broke down and we financed a used, reliable vehicle. All of that debt adds up and now we are saddled with extra payments that we don’t want.
We currently owe $38,500 to several different creditors. We pay over $700 per month in minimums to these creditors. I know what life is like without consumer debt. I dream of a fresh slate to build wealth instead of pay off debt. I have plans to make a difference through child sponsorship. We sponsor families now but we could make so much more of an impact without the monthly burden of debt.
I am going to be bold and set a goal to reach debt free status by my 40th birthday. There. I’ve proclaimed it to the world. Debt free by 40.