Author Topic: Couple paid off $70K in 5 years  (Read 2983 times)

katsiki

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Couple paid off $70K in 5 years
« on: June 21, 2016, 06:51:04 PM »

Warlord1986

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Re: Couple paid off $70K in 5 years
« Reply #1 on: June 22, 2016, 06:52:07 AM »
Kudos to them for taking control and getting rid of that debt! It must feel wonderful, and they should be proud of themselves.

CoreyTheMan

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Re: Couple paid off $70K in 5 years
« Reply #2 on: June 24, 2016, 05:28:28 AM »
Idk man, 70K in 5 years, that translates to 14K per year, which is about $1166.67 per month between two ppl, doesn't seem like a mustachian amount to me.

talltexan

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Re: Couple paid off $70K in 5 years
« Reply #3 on: June 24, 2016, 12:33:28 PM »
Agreed. These guys really emphasize their budget. But now that they're out of debt, it sounds like there's a future with a large SUV, and a lot of manicures.

katsiki

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Re: Couple paid off $70K in 5 years
« Reply #4 on: June 24, 2016, 02:38:43 PM »
You're probably right.  I was more looking at it from a standpoint of paying off a decent chunk of debt on reasonable salaries and (hopefully) seeing the light to not get into debt again.

clarkfan1979

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Re: Couple paid off $70K in 5 years
« Reply #5 on: June 24, 2016, 03:05:27 PM »
Idk man, 70K in 5 years, that translates to 14K per year, which is about $1166.67 per month between two ppl, doesn't seem like a mustachian amount to me.

This is kind of what I was thinking, but this assumes a 0% interest rate. I think this is possible by starting with $1,000/month ($500 each) and any raises or tax refunds go toward the balance. Very easy to do in 5 years.

Mac_MacGyver

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Re: Couple paid off $70K in 5 years
« Reply #6 on: June 26, 2016, 06:16:07 AM »
Good on them regardless. Paying off debt is paying off debt.