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Tired of your debt restricting your options? Learn how Claudia & Garrett from Two Cup House dumped $200k in two years by simplifying their lives and moving into a tiny house!
Achieving Financial Freedom By Dumping Debt
Whenever I hear neighbors, friends, and family talk about their debt, there are a couple of reactions.
Some are frustrated being trapped with certain things because of debt. Maybe they'd love to switch jobs to start a new career, but can't because they got bills to pay.
Others kind of throw up their hands, accept debt as a part of life. “You'll always have a mortgage.”
And then there's this third group. They're are sick and tired, but they are ready to do something. That's where Claudia and Garrett were two years ago.
On April 7, 2015 the Penningtons started the journey lead them to eliminate all their debt last month.
The grand total? Just over $200,000!
Simplifying Finances and Lives
You've probably seen tiny homes in magazines, online, or maybe on TV (thank you HGTV!). Those small spaces are popular for some couples.
For one, less space typically means less house to maintain. Right now the median size of size home over in the Northeast, where the Penningtons live, is about 2300sq ft.
But is simplifying things as simple as you see on TV? Can you really be debt free that fast?
In this episode, Claudia comes on the podcast and shares:
- what pushed them to make the changes to sell most of their stuff and shrink their living space
- the real story, struggles, and wins of going tiny with their home
- how they managed to crush debt and achieve financial freedom
Hope you enjoy!
Resources to Simplify Your Lives and Dump Debt Faster
If you two are thinking of simplifying your home, finances, or lives, here are some resources to get started:
- Paying Off Debt as a Couple
- Attacking Debt: Which One First?
- The Total Money Makeover: A Proven Plan for Financial Fitness
- The Great Debt Dump: Running Toward Financial Freedom with the Power of Community
- 17 Money Saving Strategies We Used to Triple Our Savings Rate
- Escape Living Paycheck to Paycheck
- Early Retirement in Your 30s with Frugalwoods
- Boost Your Income with Side Hustles
Thank You to Our Partners
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Did I mention it’s free? Why don’t you give Personal Capital a try today?
This episode was originally released in April 2017. Show notes have been updated in November 2019.