How I Achieved Debt Freedom in 15 Months

Debts are the greatest enemies to achieving financial freedom. They choke your income leaving no room for saving and basic expenses. I have to experience the debt pressure, which almost led me to auction my property. I am not a money squander, but several everyday issues triggered my debt history. My first loan was the student loan I had planned to pay off once I landed myself a job. So I went through college and got a job at a local radio station. It was a good experience; I left home and rented out an apartment. It was small enough to fit my needs, and I also bought a car through a loan I was to pay within six months.

How to Become Debt Free in 1.2 Years

I didn’t know about finances, but I had few facts on saving and not overspending. My parents didn’t talk much about money, but we lived an average life with no financial hassles. My father could afford to feed us, pay school fees, and also provide some luxuries. This is pretty much what I was planning. To have comfortable but straightforward life, no debts, or total lack of funds to finance my (family) needs.

How to Become Debt Free

That what I wished for, but I was drowning in debts within my second year of work. My student loan coincided with my car loan, and it was hard to juggle between the two. I had three credit cards that accumulated debts fast, and before I knew it, I was sinking hard and fast. Yes, I was saving, but unfortunately, my saving was wiped off by growing expenses. I don’t know, but it’s like misfortune was haunting me. I always used a comprehensive car insurance policy none of the accidents insured under the comprehensive cover ever occurred. However, I could take less cover to save part of the money and put on my debts. After the cover expiry, I bought a different cover and was okay, promising to get back to the comprehensive after I am done with the debts. Unfortunately, my car was broken into, taking the spare wheel and rear mirrors.

This couldn’t be covered on my insurance policy, meaning I had to use my money to pay for the repairs. It was a misfortune after the other, as my student loan and car loans incurred more interest, drowning me deeper into debts. The mystery affected work delivery to appoint crying as I walked down the corridors or at the radio session.

Breaking From Accumulating Debts

First I thank my boss, who was concern with my deteriorating situation. I was open about debt, though she couldn’t pay the debts on my behalf. When I was introduced to financial programs to which I owe my achievements. I started listening to a radio program that majored in debt freedom and money management. The first lessons required discipline, which was quite hard on my case, but I sacrificed to achieve.

Creating an emergency fund and paying yourself first.

At first, it wasn’t easy comprehending how I could pay me. I needed the money to clear the debts, not save. However, the program presenter quoted, “you pay all your bill, cater for your expenses but you don’t remember to pay yourself.” His advice on a 10% portion of your salary to go to emergency funds or a saving account. It was my first step to offloading my debt once my paycheck arrived. I took 15% of the amount and saved it in a locked account to avoid fallback. The habit grew, and I continue paying off the debt as I saved 15%.

Snowball approach financial tactic

This the best and easiest way to attack your debts. I was taught to list all my debts from the smallest to the biggest. Once I established all my debts, this included even salary advances and borrowed money from friends. I started by paying the small debts will all the extra money I made or acquired as gifts from credit cards. As I tackled the small debts, I still serviced the minimum amount of the car loan, student loan, and credit cards.

To achieve through the approach, you must also reduce all expenses. I only bought what was necessary; actually, I would stay a day or two. To ensure that I need the item for me to buy. The money recovered, I directed it to my loans. My saving grew, and the debts were reduced; within 12 months, I was done with the car loan, and the interest accumulated. My credit cards debts were also sorted, and I was building my credit report back.


After five months, I cleared my student loan and was financially stable from the saving I made. I could afford my smile back. I was amazed at how fast the debts subsided and the freedom that came with it. Still i listen to the financial programs. I have also written stories on my debt freedom journey. To help other people in debt crises.

Today I save 50% of my salary on emergency funds and keep my spending low. I don’t purchase beyond my limit to avoid credit card debts. It is fulfilling, but it takes discipline for one to walk out debt-free. You might not be lucky to find radio programs as I did, but you can consult financial advisors. The freedom starts with simple steps of saving and paying portions of your debts equally until you manage.

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