I’m fond of saying that Hubby and I should have received a financial stupidity award in our early marriage. Armed with credit cards and few brains, we shopped foolishly and extravagantly. Even buying a dog on credit! 

If prizes existed for financial stupidity we deserved first place! Yes that’s right, we bought a dog. On credit! A living being, which could get die, run away, or get hit by a car. Or even as happened get stolen, leaving us to pay for something we no longer had. An Old English Sheepdog, Sheba was beautiful but not worth that!

That should have served as a wake up call, but really didn’t. We did start trying to cut back, but to no avail. We had a credit addiction and were over our heads in debt.

It soon became obvious that we couldn’t keep up, and the bank must have thought so too.

For they repossessed our car and home. Life became a nightmare, letters and phone calls things to dread. No extra cash for special celebrations, nothing for rainy days. Paychecks gone before they even hit the bank! We even had to borrow my parent’s car to get to the hospital for our son’s birth. And that was when we started to realize that we had a problem. (Better late than never!)

So in 1981 we took scissors to the credit cards, dog debt included.

And made a pact to not buy on credit. Then worked at getting out of debt little by little, feeling lighter and freer as each was paid! And that marked the beginning of a new era for us.

One that I like to call our journey to a simple life.

We had learned the wisdom of living within our means and buying with cash only. Of learning to get by, make do, or even do without it. Which taught us that real needs are relatively few. And increased our appreciation of what we already have.

We celebrated our 15th anniversary by making the last debt payment, with nothing left for dinner out or gifts. But we’d gone from Financial Stupidity Champions to Debt-Free Living, and that was far better than all the gifts or flowers in the world!

Only years later did we learn our method had a name: the Debt-Snowball method.

And here we thought ourselves the proud genius inventors, darn! An apt name, because debt can become like a growing snowball.

But paying debts off also works in the same way. Once you get that ball rolling, applying all extra funds to paying them off, your debt-free status keeps growing and growing!

And what’s important is it worked! It wasn’t easy and took determination and discipline. But knowing that it was good for us helped us keep our eyes OFF of things we didn’t really need, and ON the benefits of being debt-free.

Fast forward 37 years and we are now also entering mortgage-free living!

As of today, we made our last house payment!! And the Lord even blessed us with being able to pay it off 3 months early! Which means we don’t owe money to anyone for anything. The only payments we are have are standard bills like utilities and car insurance.

Living without debts has been a huge blessing to us. Partially because as missionaries our income is unstable. But mostly because it gives us so much more freedom and peace of mind!

Debt-free living comes with many benefits, but these are our favorites!

1. Fewer worries over loss of income.

Having no payments except monthly expenses to cover helps make any income loss easier to deal with.

2. Saving for rainy days.

And for future purchases like replacing our ancient car with a newer one. Or enjoying a few more special meals out.

3. We are freer to reach out to others with a helping hand.

Owe no one anything, except to love one another; for he who loves his neighbor has fulfilled the law.

Romans 13:8

But perhaps getting out of debt seems like Mission Impossible to you. If so, take heart from our story.

Trust me, if two financial idiots like us could do it, so can you!


This information is provided for informational purposes only, and not intended to replace financial or legal advice! Don’t hesitate to seek professional counsel or representation.


26 thoughts on “Dog Payments, Snowballs and Debt-Free Living!

  1. I only hope I can keep my cash only lifestyle going til $0. Your story is inspiring. Congratulations on strides you have made!


    1. I’m so glad it inspired you! Getting out of debt is not easy and takes lots of work. But it is SOOO worth it in the end!! Just keep on keeping on!!


  2. I have also been in those shoes. Very interesting read. I’m glad that life has blessed you and you have learned from mistakes made in the past. Now everyone learns, which is a shame.


    1. Aw, thanks so much! I’m just grateful that God has helped me learn through all of life’s varied (and often strange) circumstances! And hope to get wiser as the years pass. I still have much to learn and much growing to do!


  3. My husband and I married young. I guess we thought we should start out having it all, and we both worked, so…
    We bought a house, furniture, appliances, a car, and a motorcycle and then I decided I really thought it was time to start our family. Needless to say, we ended up in debt and it took several years to understand how to “make ends meet” within our means. Thank you for this post, Sheila, and for expressing the freedom that comes from not being tied down by our desires for more “things” –


    1. Sounds like our backgrounds are similar Doris. That plastic money certainly made things seem easy. But it created a lot of long-term trouble for us. Contentment with what we have is, I think, a real treasure! Glad you too have stepped out of that cycle!


    1. Good job TR! It’s amazing how much further money seems to go when we don’t have to make extra payments. Just amazing!! I’m glad you won’t owe on your bed. Then no one could ever come and take it away, lol!

      Liked by 1 person

  4. Good for y’all!!! Debt free living is a relief and freedom to be able to be and do whatever called to do! Keep the good work!! (And at least you bought a dog on credit, not a cat!!) 😉


    1. No dog, no. lol! Actually we’re planning on going out for a pizza on Saturday night!! And we’re going to burn a photocopy of the mortgage! Thanks for rejoicing with us, and glad you too got back on track!!

      Liked by 1 person

  5. Sounds like you are telling our story. We are not completely out of debt, but have come a long ways with this same process. It is so much more freeing with low to no debt. And it is being a good steward with what God has blessed us with. Thanks for sharing.


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