Ryan and Courtney Luke lived paycheck to paycheck for years. The Lukes had enslaved themselves to credit cards, car loans, and mortgage debt. Courtney’s pregnancy, however, opened their their eyes to the need to change their ways. They established a plan to live within their means and to arrest their debt. Committed to their plan, committed to each other, and committed to their goal of earning enough on one income to allow Courtney to stay home with their growing family, the Luke’s eliminated all of their debt, including their mortgage. They did so in nine years, primarily on Ryan’s income as a police officer. Now their family of five lives comfortably with Courtney able to be a full-time mother as planned.
Ryan continues serving his community as a police officer. Also, he has channeled his family’s experience with paying off debt and building financial security into a blog and a financial education business. You can learn more about Ryan and Courtney’s journey at ArrestYourDebt.com.
While I do not carry credit card balances or owe on car notes, our mortgage remains. I have made a tremendous amount of progress hacking away at that source of financial insecurity, but I’m not out of the woods, yet. Reading about the Lukes gives me inspiration to continue forward, moving past the temptations that are often not much more than a mouse click away.
Also inspirational, I recently read an article titled “Confession: Why I Gave Up My Debt-Free Dream” by Gemma Hartley. Gemma shares how her mission to eliminate debt from her family’s life strained her marriage. Her husband did not want to live below their means; he wanted to live above their means. Ultimately, after five years of scrimping and eliminating all of their debt except their mortgage, the Harley’s threw in the towel.
“Reluctantly, I gave in to save our marriage. We bought a bigger house that would keep us in debt for decades to come, even though the thought made my stomach churn,” Gemma writes. “In one fell swoop I doubled our original debt….. I ran numbers for hours on end and kept coming to the same conclusion: My debt-free dream was over.”
I do not judge the Hartleys. They did what they had to do for their situation. I admire Gemma for making herself vulnerable–sharing her financial and marital struggles, her successes and her failures. We learn from those who make themselves vulnerable, and we should be grateful. Likewise, I am grateful that my wife never pressures me to live beyond our means.
With Love,
P. Gustav Mueller, author of The Present
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