Last Updated on July 23, 2020

What’s up…What’s Up Y’all!

Welcome back to the debt-free success stories.  You’re probably reading this because you want to become debt-free. You want to know what it really takes to pay off your student loans, credit card debt and other bills within a short period of time, right?

Today, I am showcasing Meaghan’s story. I’m sharing her story with you because I want you to see that becoming debt free is possible! Anyone can do it – all you need to do is have the correct mindset and follow through with ACTION! Combining these two elements together will definitely be the key to your success. I learned of Meaghan’s story through LinkedIn. The excitement that was conveyed in her post, excited me about her debt free journey and I had to reach out to her. I am so glad she agreed to be featured on the blog. I can’t wait to share her story with you.

I spoke with Maeghan about her debt free journey and asked her to give us the low down of how she became debt free.

Here’s what she had to say:

Thanks for taking the time out of your day to to share your story with us. Please tell me little about yourself.

Hi! My name is I’m Maeghan! I am a Full-time Georgia Realtor and team lead of the MWM team. Born and raised in Georgia – which makes me a true Georgia peach!

I received my Bachelor of Science Degree in Communication from Kennesaw State University. I love talking to people and working on all things real estate. When I’m not assisting my clients or my team members, you’ll find me spending with my family, my pup Bella Mae, traveling, shopping or eating sushi.

I started my debt free journey after listening to a Dave Ramsey podcast as I was on the way to show a home. I had an hour long drive ahead of me , since his podcast was shared with me I figured I’d give it a listen.

WOW! That’s incredible But tell us… How much debt did you have when you started your debt free journey, what did it consist of and what steps did you take to reduce it?

I started my debt free journey in the middle of 2016 with $69,000 of debt. It consisted of credit card debt and my car.

After hearing Dave Ramsey say that is done it just clicked like yeah it really is! And then when you start thinking about it if you’re making money but you owe people you’re really broke. Changing my mindset really allowed me to light the fire to pay my debt off. I simply follow the Dave Ramsey baby steps plan and started by saving $1000 and then paying off all my debt in the snowball effect. So I paid the smallest to the largest until I finished them all. Now I am off to start baby step three which is save 3 to 6 months of expenses!

So, tell me what was your trigger? Essentially, what made you decide that you wanted to be debt-free if you could share the steps that you took in order to reduce your debt?

After hearing Dave Ramsey say that it’s done, something just clicked in my head and I was like yeah it really is!

When you sit back and you begin to think about it, it makes you look at debt in a different way. For instance, if you’re making money but you owe people money – guess what? You’re really broke!

Changing my mindset really allowed me to light the fire under my butt and get SERIOUS about paying off my debt. I followed Dave Ramsey’s baby steps plan. First I started with Step #1 which is to save $1000 in an emergency fund.  After that step was complete, I moved forward with Step #2 – which is paying off all my debt by using the snowball effect. I paid off the smallest debt first and then I moved onto the next. This allowed me to build momentum which essentially brought me to the largest and I followed this process until I finished them all off.

Now I am off to start Step #3 – which is save 3 to 6 months of expenses!

What sacrifices did you make to become debt-free and why was it hard for you to give them up?

I had to really budget and cut out unnecessary expenses.

In addition to that, I canceled subscriptions, stopped getting my nails & my hair done twice a month. I stopped buying unnecessary groceries. I picked up some side hustle jobs to generate additional income. I buckled down and I committed to budgeting and eliminating unnecessary expenses. I stayed disciplined. I think what was so hard was probably not being able to spend my money the way I wanted to because it had to go to debt. In the back of my mind, I knew once I finished that eventually I would be able to reap the reward.

Respondent.com is awesome! I earned $50 from by having a 20 minute conversation. What advice would you give to someone who is currently in debt and doubtful that they can pay it off?

Your mindset is the most important component of the debt free journey. Here are our 4 steps to conquering your debt: Shift your mindset, identify your why, make a plan, and execute. If you are willing to make a temporary sacrifice, then you can achieve debt freedom.

Additionally, we advise to have a support team or accountability partner. The journey is definitely tough at times, so having somebody that can hold you liable to your plan and keep you progressing towards your goal is vital.

You’re absolutely correct! Your mindset will definitely direct your course of action. Now that you’re almost debt free, what are your future goals?

The first goal is to increase our emergency fund to 4-6 months. Once that is fully funded we will further pursue our interest in investing in stocks, real estate and small startup companies. Additionally, we’ll start aggressively contributing to our retirement savings which will help us get a step closer to Financial Wholeness. Our most valued goal would be to enjoy traveling together. We plan to hit the skies and wander the world with our family.

You’ve knocked out $69,000 of debt in 3 years! That’s amazing Meaghan! Now that you’re debt free, what are your future goals?

My future goals are to save the six months of income, start saving for retirement, start saving for a few other things I would like to build my wealth and give back.

I love it! You have some promising goals on your hands. What advice would you give to someone who is currently in debt and doubtful that they can pay it off?

Every dollar counts so whether you have five additional dollars one month or 500 additional dollars one month to pay towards your debt it’s still decreasing your total amount which get you one step closer.

Thank you for taking the time out to meet with me today. I really enjoyed our interview. Tell us where we can find you on social media to learn more about your journey?

We can connect via a Instagram 💚 as that’s my primary page. My username is @movewithmaeghan

Interested in more debt-free success stories?

Elisha and Josh are smashing debt like never before. I hope their interview inspires you to start your debt free journey!  Be sure to check out the other debt free stories by clicking here.