Finance

How I Paid $3000 of Debt Off in 7 Days!!!

I am so excited today to share how my husband and I paid off $3,000 worth of student loans in ONE WEEK!  This money did not come from our savings or checking account; or even our paycheck. What we did was so simple! We took a walk…

Around our house!

You are probably wondering what the heck I’m talking about so I’ll jump to it. My husband and I got tired of slowly chipping away at our debt; so we had an idea. We decided to sell a ton of our stuff.

It’s not an original idea, but it is a good one and one that most people probably wouldn’t do.




It all started when my husband finally (after years of begging on my part) offered to sell some of his tools from his old career. He used to be a collision repair technician so he has very specialized, expensive tools.

Those tools alone brought us in $2000! FYI – He used the Offer Up app to sell most of them

The other $1000 came from holding a garage sale. We sold clothes, furniture, a treadmill, and tons of little items. Things we hadn’t used in over a year! These items were of no use to us. In fact, a few days after the garage sale, I couldn’t even remember most of what we sold!

It was amazing. We made enough money in those 7 DAYS to pay off my husband’s last student loan. A little backstory – my husband had about $24,000 spread out over 6-7 different loans when I took over managing them 8 years ago. They were of course a mess, my husband (fiance at the time) had continuously paid on them late, deferred them, and forgot to pay them for a couple of years. As you can imagine, he wrecked his credit which is why I took over managing them. I did not want to start off our marriage in a financial mess. I knew better than that.




Fast forward 8 years later, we had one student loan left for about $3000 and I wanted to just pay it off. That’s when I broached the subject of selling stuff…luckily my husband was finally ready! In fact, he was so excited when the messages started rolling in through Offer Up…we heard the “kaching” sound going off all night for a few days alterting us to people asking about his tools.

So now that we have gotten rid of the students loans, we are ready to move on to the next debt in line. My husband’s truck. We owe about $17,000 and plan to have it paid off in 9 months. Then we will start on my SUV. I will have a detailed game plan on how we plan to do this soon, as well as a spreadsheet you can use for your own debt payoff. In the meantime, see this blog post to help you get your debts organized and prioritized and stay tuned…

What is a debt you have been paying off FOREVER and would love to payoff NOW? What can you sell to make that happen?

 

 

 

 

 

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12 thoughts on “How I Paid $3000 of Debt Off in 7 Days!!!

  1. Yeah !!! That is awesome to be able to make so much money so fast. We are in the process of paying off all of our debt as well. My family is loving how much less clutter we have, and the extra money we are making by selling as well. #fdflinkparty

  2. That’s so clever – sell his tools! lol! I really wish I had some expensive tools laying around that I could get a pretty penny for.

    Found you on #fandayfriday!

    1. The tools definitely helped but $1000 came mostly from “junk” laying around. Take a look around the house! 🙂

  3. Hubby and I have been talking about grabbing a spot at a local swap meet forever. We need to just do it! I swear we could take in a few hundred with the stuff that is just sitting in the garage. I mean who really needs a surfboard? Hubby spent like $300 on it and has used it exactly 1 time. I guess though that he could complain that I have things in the house that I need to get rid of as well. I’m trying to hold out on selling my jogging stroller since it’s almost $160 new and I’ve gotten real low ball offers for it. I could use the low ball money, but I feel like if I wait until warmer weather I might get a better deal. I’ll check out the offer up app though…maybe I can get someone to bite on it that way.

    Thanks so much for co-hosting and posting your blog post to the #FanDayFriday Link Party! I hope you have a great experience with the link party and come back again next week! #fdflinkparty

    1. You should definitely do the swap meet! I was so happy we held the garage sale, de-cluttering was great too!

  4. I absolutely love this idea! I’ve heard it so many times before and we’ve done it ourselves! Totally works. “If you haven’t touched it in a year, it goes” …. that’s the rule in our house 🙂 Congratulations on paying off that debt. That’s huge! #fdflinkparty

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