David Cahill and his wife, Meg, shared their saving tip which helped them pay off student loans in the amount of $18,000 in 54 days.
As husband and wife, David and Meg have agreed to subject themselves to extreme saving.
“Our mantra became, Sacrifice now in order to be able to win later,” Cahill shared to CNBC (Consumer News and Business Channel).
For other spouses whose top secret on gaining financial freedom is by cutting down unnecessary expenses or cutting-off the use of their credit cards, the case of the couple was quite different. Instead, they opted to find someone to hold them accountable for the financial goal that they wanted to achieve.
Cahill said, “We actually sat down with our friends and told them about the ambitious plans that we had asked them to provide us accountability”.
“The support that we got from them, the texts and the phone calls of encouragement, really made a difficult experience for us that much more gratifying,” Cahill added.
Getting their friends involved with their plan made it easier for the couple to be on the right track in meeting their goals. It even meant less pleasure and leisure for them.
They admitted that they restricted themselves from bowling and dining out in expensive restaurants that they used to do with friends which were not practical at all.
“With the appropriate mindset and the willingness to adopt the correct strategies, anybody can replicate what we did,” Cahill shared.
Taking small steps to achieve changes here and there can make a big difference. All it takes is will power.
In debt? Now, it’s your time to create a plan of your own.
Who knows? One day, you might be sharing your testimony, too!