New on Bridge Street – my Personal Story of getting out of debt and 5 Tips on how to stay out!

I went on News Channel 9 today on Bridget Street to talk about my personal story on how we got out of debt as a family.  These were 3 hard years of sacrifices and trials, but we have been debt free (except our mortgage) for 3 months now!

I did mis-speak in this video – we were underwater in our mortgage and owned MORE than we could sell it for.  In the video I said that we owed LESS than what we could sell it for….UGH!  Oh well, that’s LIVE TV for you!

If you can’t see this video – you can head over here to view it.

Make sure that you check back and are following my New Weekly New Year, New Budget Video Series!

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Comments

  1. says

    You did great Lauren! Good tips, I have a card swiping weakness as well, time to get some cash envelopes! Thanks for sharing the video on your site for all of us out west.

    • says

      I made my envelopes with white envelopes I had in the house, then use packing tape to make them sturdy. They have lasted 4 years and cost me nothing :) So happy you enjoyed the video!

  2. Dawn M says

    Great job Lauren! We are just starting Dave Ramsey’s Total Money Makeover and it’s so nice to be able to see a light at the end of the tunnel! I can’t wait to be debt free!

  3. Andrea says

    Thank you. I have done a financial class before and they also recommended using cash envelopes. It is so much easier to stick to the budget when you can physically see that “hey, there’s only $10 in our food budget” with a card you don’t see it and you might be dipping into your gas cash without meaning to! Thanks for the great tips!

  4. Amanda says

    Thank you for sharing your story! You are so inspiring! Thank you for being so realistic too :) You sounded very professional and looked beautiful!

  5. Tamara P says

    Thank you Lauren for sharing your story. I now know i am not alone. My husband and i before we got together and during our first couple years of being together “swipping” was something we did all the time. We have decided last year that we are drowning with school, credit card, and car payment debt. So we have all of our bills on a white board that tells us how much we owe each credit card and student loan and they have an order of how we are to pay them off. So everytime someone comes to our house and into our computer room if they look at it they know how much in debt we are but it makes it a huge reality check for us. We also did cancel our credit cards but they it was at the time when they were jacking up the interest rates thus is what made us jump on the get out of debt thing. Thanks again.

  6. Allison says

    Lauren, great job, and great tips! You actually said our house was worth less than what we owed on it’, so it seems like that is what you meant to say. All is good!

    • Andrea says

      I was going to say the same thing, it sounded correct to me…great job and I too am going to cancel all our credit cards. a few credit score points are not worth what could happen again in the long run….everyone (including myself) needs to learn to live with what they have.

  7. Julie Jones says

    You said it right. You said “our house was worth less than what we owed on it” Meaning you owed more than it was worth. Good job. I’d rather be reading it off a monitor. haha. Thanks for the tips.

    • says

      Thanks Julie, no monitor in live TV…if I mess up I mess up….And I never know what they are going to ask me. Thankfully i know my stuff, or else I would look very strange , lol!

  8. says

    Great job on getting out of debt so quickly! It must feel great!

    Can you talk more about where you “hide” your money? You mentioned depositing money into ING accounts that you can’t touch? Is that what you do with your holiday/school clothes/birthday spending money?

  9. says

    Hi Lauren,

    Thanks so much for doing this interview. It is very inspiring. We’re working on getting my son out of debt this year (won’t be too hard, just a few hospital bills) It’ll be a bit harder when I focus on mine. I’m definately bookmarking your interview so I can watch it when I need some positive reinforcement :)

  10. Bridget says

    Great job Lauren….
    I would love to set a budget but my problem is I think our income is so much less than our bills and expenditures each month.. How do I set a budget if we don’t even make enough to pay what we need to pay?

    Bridget

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