A Real Six-Figure Debt Payoff Journey: How This Couple Paid Off $266,000 in Seven Years

Paying off debt can seem like an impossible feat when you are facing six-figures of it.  This is true for myself and so many others out there. Whether you just made a lot of bad choices, had a lot of schooling or are a professional in some field (that’s me!!), it is super easy to rack up six-figure debt nowadays.  Everyone wants to know the secret to six-figure debt payoff.  Turns out, there are a few key things you need to do, and anyone can do them!

In 2015, by the time I had graduated from veterinary school, got married and financed a home, my husband and I had $500,000 of debt (including our home).  Half a million dollars!

The frustrating part for most of us in this position is how impossible it can feel to ever become debt free.  Is it seriously possible to pay off over $100,000 of debt before you keel over? Is it worth it? Is it going to be miserable while it’s happening?  Do I have to sell a kidney to make it happen?

I have had all of these thoughts, but ultimately decided it was better to work on becoming debt free versus living trapped forever.

This leads me to this inspiring story of persistence, discipline, frugality, sacrifice, and perseverance.

Meet Nari.

Let me introduce you to Nari.  She is a pharmacist. Like so many of us professionals, she had a mountain of debt.  We are talking about $223,000. This was all student loans.

Again, like the rest of us, she was following her passion becoming a pharmacist, getting married and trying to build her career, family, and life with this six-figure debt just breathing down her neck.

In 2012, Nari graduated from pharmacy school with $195,000 of student loans for that education.  In total with an additional $20,000 from her undergraduate degree and $8,000 on credit cards, she looked up in December of 2012 and was facing $223,000 of debt.

Nari then started to do the normal debt payoff thing.

In January 2013, Nari decided to continue to live below her means and get started with her slow and steady payments to eventually get out of debt.  She was living a simple life on a pharmacist’s salary (~$150,000/year) and was able to pay off $148,000 in 6 years.

She didn’t live a 100% frugal life.  She purchased clothes, purses and beauty items whenever she felt like it.  She went on several vacations during this time too.

Nari was paying extra here and there when she had money left in her bank account, but she definitely didn’t have intentions to pay off her loans as soon as possible.  She was just moving along enjoying life and paying extra on her loans when she could.

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Why I love Nari’s six-figure debt payoff story:

She was completely normal for 6 years!!  Nari did what we all try to do. We live “frugally” and make payments on our debts, but don’t actually get really intense about it.  We make slow and steady progress.

We keep living on the slow and steady train just waiting for the day all the debt is finally gone.  We don’t make major sacrifices or tell ourselves, “no,” to our wants. Instead, we give in because we want to enjoy life.  We don’t want to sacrifice for years to make it happen. It doesn’t seem worth it.

Six years she lived like this.  Six years!

In 2016, Nari was able to cashflow a wedding to the man of her dreams and a honeymoon.  After the honeymoon, she and her husband took a little step backward when they financed a new car for $28,000.  They also made the dumb mistake of purchasing a travel membership (similar to a Timeshare) for $15,000.

When everything changed for their debt payoff journey.

Nari found out she was pregnant with their first child which became the catalyst for a major outlook change when it came to their finances.  While researching a whole life insurance policy for their unborn child, they ran across Dave Ramsey. 

After learning more about Dave Ramsey and his baby steps to knock out debt and gain financial freedom, Nari was all-in.  

In May 2018, they began their gazelle intense journey. At that time, they had a total of $118,000 of debt remaining ($100,000 student loans + $18,000 car loan).

The motivation to become debt free.

The deciding factor for wanting to be intentional about becoming debt free was expecting their first child.  Nari also had a moment where she felt like Dave Ramsey was speaking directly to her.

He was saying to another guest on his show, “You are not a doctor.  You are a broke doctor.”

Nari heard this as, “Nari, you are not a pharmacist.  You are a broke pharmacist.”

That was her moment. It was then she realized having a high income was nothing if she had to live paycheck to paycheck because of her large debt load.

From that moment on, Nari was determined to pay off the debt as fast as humanly possible and was willing to sacrifice to make that happen.

Their income while paying off the last $118,000 of debt in one year.

Nari had a wonderful salary for a pharmacist of $150,000 and her husband (who is a pastor) ranged anywhere from $25,000 to $42,000.  (These numbers are gross income).

The truth about income:

Income can be a huge factor in the rate of debt payoff.  You may look at Nari’s income and think, “Well, of course, they could pay off the debt, she has a huge income!”  But, I want you to pay attention to her husband’s income which was minimal compared to hers. This is not a couple bringing in $300,000/year.

Even if you and your husband aren’t even at $100,000 gross income for the year combined, you can still get out of debt.  My husband and I were facing this a few years ago. We needed a bigger shovel to get us out of our debt. My husband left a very comfortable and secure job to pursue something a little less stable, but with major income growth potential.  

I took a different job with better pay that was further from my home, I have taken on freelance work, and I took on a second job as a Starbuck’s barista just 6 weeks post-partum.  My husband has also started a side hustle of pallet projects. Every little bit helps.

When you are facing six-figures of debt, you need to make your income as big as you can.  You truly can only decrease your expenses so much. At some point, you have to start increasing your income.

How Nari’s husband worked to increase his income to achieve financial freedom.

Nari’s husband is a pastor, and they tend to have a low income.  At his lowest, he brought home $25,000 gross/year. In May 2018, he got gazelle intense to pay off their debt and took on as many part-time jobs as he physically could.

He is so impressive!  

• He worked part-time driving for Uber,
• became a part-time teacher at a local academy,
• became a part-time chef at a Sushi restaurant.  
• He started selling anything they could possibly sell to raise extra money…..this included Nari’s wedding dress!!

Eventually, he made the ultimate career sacrifice and left his main job at the church to work full-time as a chef at the Sushi restaurant.  Nari’s husband knew the sacrifice of leaving the church to work as a chef would be a temporary necessity to conquer their debt problem. After the debt was paid off, he could begin to focus on his career without the pressure of living paycheck to paycheck.

Where they lived during their six-figure debt payoff journey.

In May 2018, they moved in with Nari’s parents right before their son was born.  This was a major money saver as they only paid $1,000/month rent vs. $1,700/month rent for a 1-bedroom apartment.  

Having parents willing to provide this option and support was amazing and really set them up to save tons of money.

Her parents provided food for them so they didn’t have to buy groceries.  Aside from their son’s needs with formula and diapers, they had no other food expenses which were a huge saver!

The downside for Nari was it was an 80-mile commute to her work, ONE-WAY.  Ultimately, this commute was worth it for the amount of money they were saving.

The other really tough thing for Nari as a first time mom was moving into a single bedroom with her husband and soon to be newborn son.  As a first time mom, it was extremely difficult for Nari to not have a baby room to decorate and prepare for her child.

The baby’s room is one of those sacred and special projects all moms look forward to.  It is part of our natural “nesting” and preparing for our child. Because of their living circumstances, they were only able to put a baby crib in the corner of their bedroom.

The crib was a gift from a friend, and Nari was able to get everything else they needed for their son borrowed from family and friends or used.  Instead of paying for professional photos, she was able to DIY them.

The struggle they had during their journey to pay off student loans.

Nari was so sure of their journey, she never felt like giving up.  She was driving 160 miles every day, living in one bedroom of her parent’s home with her husband and newborn son.  She was so motivated to get out of debt to not have to spend her life in a car instead of spending time with her son.

Nari’s husband struggled a bit with the process because he still viewed the pharmacy debt as Nari’s and not his.  This became a stumbling block for him to fully on board and not be frustrated by the sacrifices that needed to be made.

In the beginning, Nari thought they were on the same page.  She was hardcore for Dave Ramsey’s methods and she is the one who told her husband about them.  He didn’t fully understand it all and wasn’t 100% on board.

Once they attended Dave Ramsey’s Financial Peace University together, they were on the same page with the plan and working as a team.  From then on, they were attacking their debt with a supercharged intensity.

Finding the motivation to stay intense during debt payoff.

Nari listened to Dave Ramsey’s podcast during her daily commute.  She also kept a visual countdown of their payments each month on their refrigerator.  The Financial Peace University class was also a huge motivator for both of them to keep going.

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A budget became important to their process for living debt free.

When Nari first started her debt payoff journey, she did not use a budget.  Even when they moved in with her parents they weren’t budgeting. At that time, they didn’t feel like they were spending any money so they didn’t have many expenses to budget.  

They have since started using Dave Ramsey’s EveryDollar App to budget, and are finding good success with it.

Outside opinions about their radical journey to become debt free.

We all know debt payoff is a hard enough process on its own.  When you hear negativity from others, it can make your journey that much tougher.  Nari’s husband faced this when he decided to leave his career in ministry for the betterment of his family’s financial situation.

Some of his fellow pastors thought it was a bad decision to put his ministry on hold during this debt payoff time.  

How success was found in the face of negativity.

Despite some people thinking they were making crazy decisions to pay off debt, Nari and her husband were in it together and paid off the last $118,000 in one year.

Did you catch that?  They paid off $118,000 in one-year making $175,000-$192,000.  After taxes, they literally lived on nothing and threw every single penny at debt.

Their net income minus the $118,000 of debt they paid off would only leave them with $4,500 – $16,400 to live on for the year.  That’s nothing! They lived on nothing for an entire year to knock this out completely.

Regardless of Nari’s big income, they made some HUGE sacrifices.

Why they were successful at paying off six-figures of debt.

Nari attributes their success to working as a team with her husband and both of them knowing why they were doing it.  For them, the big reason for the sacrifices was their son.

The other driving force to not stray from the plan was living with her parents.  With all the support they were giving them, they couldn’t impulsively spend money on frivolous things, including eating out.  It was the ultimate accountability partner.

Advice for others facing huge amounts of debt/student loans.

Nari took a fabulous approach to debt payoff and never wavered from what she set out to do.

 She says, “Six-figures seems like too much. But, eventually, it becomes five-figures, then it’s four-figures and then finally, it’s gone.  You simply have to decide to attack your debts with gazelle intensity and be willing to sacrifice a lot.”

If you are just graduating from school her advice is to,

“Work all the overtime you possibly can to get out of debt as soon as possible.  This is especially important to take advantage of if you are single.”

If Nari could change the past.

Nari does not regret becoming a pharmacist and wouldn’t change her career.  What she would change was the school she went to. Her goal would be to find the most inexpensive school, get as many scholarships as possible and work while in school.

This is true for most professions.  Does the school you go to really matter?  I remember in vet school we would always joke, the person with the highest and the lowest GPA in our class would still graduate with a DVM.  The same applies to the school you go to. You still end up with the same degree, some just cost more than others.

A debt free journey worth the sacrifice.

Now that they are debt free Nari said it was totally worth the sacrifice to not have student loans anymore.  There is a surplus of pharmacists in the profession so there are some bigger chains cutting hours.

Because they are debt free, Nari doesn’t have to worry about working enough hours.  They don’t have a payment using up her paycheck.

The amazing thing for her husband is he can now restart his ministry journey without any pressure to be a major income provider.  Whatever he is being called to do, he will be able to do peacefully. There will be no pressure to choose between providing for his family or following God’s call to the work he feels led to do.

What’s next for Nari and family?

Her son will turn one year old very soon and they plan to give him a wonderful and blessed birthday party they wouldn’t have otherwise been able to do during their debt free journey.

The rest is yet to be written.

My thoughts about Nari.

Nari is freaking amazing!  She started out doing the normal slow payoff and still living life game we all try to plan and don’t make any real progress on our debt.  She and her husband found Dave Ramsey, got on the same page, made major sacrifices and totally kicked butt!

I love how much her husband sacrificed and picked up extra work to contribute as much as he could.  Nothing was off limits. She let him put her wedding dress up for sale!! That’s crazy!

We all have different motivations for why we want to become debt free.  The struggle comes in when we start to doubt the process and wonder if it’s worth it.  Nari is proof it’s worth it.

I just love what she says when you are facing debt.  Yes, it starts at six intimidating figures, BUT, it will become five-figures, and then it will be four-figures and then it will be gone!  It is possible, but you have to start and stick with it and not be afraid to make sacrifices.

We can’t always change the past and we aren’t always perfect.  Nari paid off $105,000, got married, and then added $43,000 back to her debt load.  It was definitely not the best financial move.

BUT, they never gave up, they just got more intense and more intentional about what they were doing.

It is possible to overcome six-figure debt.  It doesn’t require a salary of $300,000. It doesn’t require winning the lottery.  It doesn’t require someone paying it for you.

Paying off six-figure debt requires:

• Consistency
• Persistence
• Discipline
• Sacrifice
• Frugality
• Grit

You are capable of all of these things.  Stop making excuses and start facing your debt head-on.

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