Siouxland Magazine - Volume 3 Issue 2

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snowball keeps rolling to reduce bigger and bigger
balances until all are paid off. Shelby mentioned they
followed this method for the most part, except for one
balance had a higher interest rate than the others. She
laughed as she said that really bothered her, so she
jumped ahead and paid off that balance, then went
back to the system to pay off the remaining debts.
Austin chuckled, too, when he said they could picture
the creditors becoming angry as the couple reduced
the company’s earnings by paying their balances off
early.
Another piece of advice from the program caused the
couple to share a laugh. During one of their sessions,
the question was raised about an emergency fund,
or how much cash they had on hand to use toward
unexpected expenses. They looked at their bank
accounts, quickly performed the math, and came up
with only $151.90 (out of the Ramsey recommended
$1,500). Yet, they knew they were ready to take on this
seemingly impossible task of paying off their six-figure
debt.
Their journey wasn’t easy and, like everyone else in
life, they had setbacks along the way impacting their
plan. An unexpected car repair left them without
transportation for a while and cut into their budget.
They also had a relative move in with them for a period
of time, which both said they would never change.
There were also times when they felt like giving up and
hoped for a magical fairy to eliminate all of their debt
with the wave of a wand.
In spite of all the obstacles they faced, the couple
remained focused and committed to paying it all off.
They relied on a few things to keep them going when
they were ready to give up. They reminded themselves
they knew it wouldn’t be easy and they were in it for
the long haul. They stuck to their monthly budget and
followed the envelope system relentlessly. Shelby
kept her numerous spreadsheets so they could look
back and see how far they had already come, which in
turn, gave them the strength to keep going. They put
together a support system to cheer them on and found
accountability partners to push them when needed.
They established a timeline with milestones along the
way to celebrate as each was reached. They also set
up small things to look forward to, such as going out
for ice cream once an account was paid in full. They
would intentionally put larger denomination bills into
their envelopes, which would encourage them to hold
onto them rather than spend them on small items they
decided they could live without. Along the way, they
Austin and Shelby Pierce
have purchased two homes and have built their $151.90
emergency fund into one that now contains more than
$2,000.
Shelby said they eventually found themselves looking at
money as a tool to use and reduced the power that money
had over them. Austin added that “debt is expected in
our society; however, it is possible to live without it.” They
said there are things they could have done differently
to lower their amount of debt. For instance, consider
attending a state university rather than a private college,
pursue more scholarship opportunities, and take more
high school classes that earned college credit, any of
which could have saved them a lot of money.
The final word of advice comes from Austin. He said
that he looks back now and makes the assessment that,
“we took something that seemed impossible and made
it to be only extremely difficult.” The extremely difficult
process helped strengthen their marriage, their peace of
mind, and their tenacity to take on anything. The couple
encourages anyone wanting to pay off their debts to be
intentional, make a plan, and then follow it through. With
some luck and a well-executed plan, they may become
debt-free, too.
Michelle Lessmann, a fully licensed Office Professional
in Keith Bales office of Thrivent. She can be contacted at
mrlessmann@hotmail.com.
Photo Credit Jetske Wauren