This couple paid off more than $100,000 in debt. Here's how they did it
This article is reprinted by permission from NerdWallet. In this series, NerdWallet interviews people who have triumphed over debt using a combination of commitment, budgeting and smart financial choices. Responses have been edited for length and clarity.Jamie Griffin’s dream teaching job came at a cost: Graduating from college in 2011 with degrees in teaching and history left him burdened with $45,000 in student loan debt.
Now, Jamie, 32, and Jenna, 31, are debt-free and proud parents of a baby girl. They’re freely pursuing other financial goals, and Jamie blogs about their journey at Mr. Jamie Griffin. They recently connected with NerdWallet to share their experience, which may inspire you to pay off debt.Jenna: We had $4,500 of credit card debt, $6,000 in car loans and $90,000 of student loan debt. Today, we are debt-free .
Jenna: I felt a lot of shame about my student loans and spending habits. I was embarrassed to bring $45,000 of student loan debt into my future marriage. It was like a weight that crushed me, and I didn’t want that to be my life forever. It seems weird and counterintuitive, but we believe a huge reason we’re debt-free today is because we tithed every month [the Griffins give 10% of their income to their church]. Trusting God did so much with our finances and he blessed us over and over again.Jamie: Seeing a mountain of debt and being able to chip away at it and celebrate successes along the way was really motivating for us. I had a student loan that was $32,000 and had the highest interest rate, about 6.5%.
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