How an Electronic Envelope System Helped Us Pay Off Over $150,000 in Debt

You’ve most likely heard of the envelope system before. It’s a money management strategy that involves labeling physical envelopes according to major budget categories and putting the actual cash amounts into those envelopes.

The benefit to this system is the real-time feedback you get about how much money you have left in a specific category. Once it’s gone, it’s gone. It’s very difficult to overspend if you follow this strategy.

But it can be high maintenance, and even risky, to keep all of your cash in physical envelopes inside your home, car, or wallet/purse.

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Debt Free Geeks – Interview With Jane at Cash Fasting

This week, I am sharing a more relatable debt payoff story with you. Not everyone goes pedal to the metal or has an exceedingly high income in a city with low costs of living (elements of my story).

Jane from Cash Fasting paid off $35,000 in debt over a period of three years, most of which was paid while living in New York City. Not only did she accomplish this on a single income, but she did it while still taking some time to enjoy life.

If you have a debt payoff story you’d like to tell, awesome! Please shoot me an email at comment@debtfreegeek.org

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How To Win With Cars: a Strategy Guide

Buying a car can be a stressful, time-consuming exercise. Have you experienced the kind of stress I’m talking about?

I’m going to share our recent car replacement experience and use it as a springboard for discussing the tenets we follow in this arena, which I believe have helped us be pretty darn successful. If you haven’t checked our net worth posts, you can get those here, or you can see the latest as of today:

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2 Lessons I Learned While Paying Off Debt

Charleston Tea Plantation (SC), October 2013

“Oh my god, I love this. Smell it! …

…Aghh, $12.50?? Maybe next time.”

“Babe, go ahead and get it. It’ll be fine, we’ll figure it out.”

[She loves all things tea. It sure smells nice, and she did that flirty giggle thing she does when something truly makes her happy.]

“But it’s 12 bucks. Chris, stop, I don’t need it that bad.”

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