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?