8 Tips to Eliminate Debt from Someone Who Paid Off $127K in 4 Years

8 Tips to Eliminate Debt from The Queen of FreeFor several years, I watched in awe as my friend Cherie Lowe worked toward paying off her family’s consumer debt and student loans. She was intense about keeping her family’s budget under control so they had more money available to eliminate debt.

In 4 years, she and her husband paid off more than $127,000 in debt — yes, that’s thousands! They have no car loans, no student loans, and no credit card debts.

It was amazing to watch her turn what could have been a struggle into a career. She became the Queen of Free — sharing freebies with her blog readers to help them spend less, writing about her debt elimination progress, and being featured on the local news more times than I can count.

And, now she’s writing a book! I guess, technically, she’s already written it. We just have to wait until September 2014 for the official release of Slaying the Debt Dragon. I’m so excited to read her tips and plans for eliminating debt in her upcoming book.

For now, though, we can at least pull up a chair at the Queen of Free’s kitchen table and hear her royal advice for paying off our own debt. I asked her to share a few of her favorite tips during her debt free journey. Here are 8 great ways to eliminate debt, from the Queen of Free:

  1. Big changes start small. Learning how to pay off $127k was a lesson learned $0.19 at a time.
  2. We bring our childhood finances into our marriages — whether we realize it (or want to) or not. Read How to Pay Off All Your Debt: Realize He’s Not Your Dad
  3. Cash budgeting keeps your hands from reaching for plastic & money you don’t have. Who says the envelope system can’t be adorable though? Check out Cherie’s FREE printable cash envelopes!
  4. Communication is key with your spouse & family when it comes to finance. But what if you have never had a budget meeting before? Here are 4 Tips for Improving Your Weekly Budget Meeting.
  5. One thing is for sure about money. Mistakes happen. How you respond to those mistakes makes all of the difference. Don’t Beat Yourself Up or Repeat Your Crazy
  6. Too much change too quickly can sink an already shaky ship. With a lens of moderation, here are five simple ways to begin transforming your finances.
  7. Every purchase you make has power. Power to elevate your life. Power to bring you down. Power to move your life toward freedom. Power to further entrench you in the prison of debt. Leverage that power to get success in your finances.
  8. Careful planning puts you ahead in the long run. Hurry and scurry put you further behind. (Proverbs 21:5 The Message) Snag her FREE printable menu planner to help you keep from hurrying and scurrying.

Struggling with your own crushing debts? Let Cherie talk you down from the ledge in her eBook Inspiration to Pay Off Debt: 30 Days of Encouragement from the Queen of Free. Follow her on Twitter, Pinterest, and Facebook for more tips and freebies. And watch for updates on Slaying the Debt Dragon, due out later this year!

Follow Heather on Twitter, Google+, Pinterest, and her blogs.

More from Heather:
8 Tools to Lower Your Electric Bill
How to Get Kids to Clean: Our Chore Card System

More on Babble.com:
Cut the Cord: 8 Cable Alternatives to Save Money
10 Celebrities Who Have Faced Failure — and What We Can Learn From Them

Tagged as:

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, profile photo and other personal information you make public on Facebook (e.g., school, work, current city, age) will appear with your comment. Learn More.