Episode 198 - How We Saved and Paid Off $134,718.32 in Just 18 Months!
Welcome to episode #198 of the Debt Free Dad Podcast. Today I have some amazing guests joining us, Daniel and Lori Elwell. Daniel and Lori started listening to the podcast in January of 2022, and soon after joined Roots. Today they are here to celebrate an amazing milestone, which they have had us on the edge of our seats for months now... If you're looking for some inspiration and motivation... this is going to be for you.
What You'll Learn
- Discover how Daniel and Lori saved and paid off $134,718.32 in a year and a half.
- Hear how improving their finances has massively improved other areas of their lives.
- If they had to start all over again, hear what they would tell themselves knowing what they know now.
- Listen as they share what has made the biggest difference for them.
Resources Mentioned
- Brad's Totally Awesome Debt Freedom Planner
- For more help, and a step-by-step process to get started, enroll in Brad's FREE online course, LIFE WITHOUT PAYMENTS.
Free Tools and Downloads at www.therealdebtfreedad.com
Connect With Brad
- Website - https://www.therealdebtfreedad.com
- Facebook - https://www.facebook.com/therealdebtfreedad/
- Private Facebook Group - http://www.facebook.com/lifewithoutpayments
- Instagram - https://www.instagram.com/brad_nelson_debt_free_dad/
- TikTok - https://www.tiktok.com/@debt_free_dad
- YouTube - https://www.youtube.com/channel/UCtbAadBrWLL81CZbA6sI5pg
Thanks For Listening
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Episode Transcript:
Brad:
Hey everybody, welcome to episode number 198 of the Debt Free Dad podcast. Today, I have some amazing guests joining us Daniel and Lori Elwell. Now, Danny and Lori started listening to the podcast in January of 2022 and soon after they decided to join Roots, and today they are here to celebrate a pretty amazing milestone, which they have had us on the edge of our seats now for months in Roots, and we are looking forward to hearing what they've got to share. And I got to tell you guys, if you're looking for some inspiration and some motivation and if you're wondering if the stuff on this podcast that we talk about really works for normal everyday people, you guys, stick around and listen to this interview. Stay tuned.
Speaker 2:
You're listening to the Debt Free Dad podcast with Brad Nelson. Brad and his co-hosts experienced the anxiety of living paycheck to paycheck before learning the fundamentals of financial security. They are now on a mission to empower regular people to pay off their debt for good and enjoy happier, less stressful lives. Keep listening for inspirational interviews, tips, tricks and practical advice to gain financial freedom.
Brad:
Hey, hey, hey, how is everyone doing today? You can find us on Facebook, TikTok, youtube and Instagram. Just search Brad Nelson or a debt-free dad and, as always, welcome to today's show. Remember to get all the resources, show notes and links for today's show. You can head over to thedebtfreedadpodcast. com and check out episode number 198 and you can also find all of our other episodes at that website again, thedebtfreedadpodcast. com. You guys, you listeners out there. Man, I am really excited about this conversation today and having Lori and Danny on. Lori and Danny met in September of 1997 in downtown Greenville, north Carolina. Now Danny was struggling, was a struggling salesman working in computer sales, and Lori was a military police officer in the Air Force and they married in 1999 and they have been married now for 24 years and they also have a son, cameron, who is now in his early 20s. Daniel is now a project manager for a security home automation company and Lori followed her passion for serving and is an a medical assistant for ECU healthcare. Now Daniel and Lori have a two pack of furry kids at home a pitbull mix named Patty Lu and an English bulldog named Cash. They say we as a family love to help and serve others. We love spending time with our family and our friends. We love taking adventures together as a family. We love traveling, camping, theme parks and also some live concerts. Lori and Dany, welcome back to the Debt free dad podcast. So glad you guys are here with us.
Daniel:
Yeah, we're happy to be back.
Brad:
Yeah. So for those of you who may be new to the Debtfreedad podcast or maybe it's been some time and you know you've been skipping around to some episodes Now Daniel and Lori went on our podcast. Probably about I'd have. Probably it was summer of 2022 and you guys I think came on in like June or July, so that was episode number 130. So if you want to kind of go back to where they started, I think you would. You would definitely get some value because you would see kind of where they were, you know, 14, 15 months or so ago, and now where they are today. But you guys, we're just going to let the cat out of the bag and there was no way that I was going to steal steal this exciting news for you guys. But why the heck are you on our show today?
Daniel:
One, two, three. We're officially debt free.
Brad:
Yeah, that is awesome, you guys so exciting and, as I mentioned in the intro, you guys have had us on the edge of our seats here in Roots and I mean I knew just from chatting with with Danny over these last. You know well, I mean, ever since you guys have joined, we've had some pretty good communication and I knew it was coming. I knew it was coming on the pipeline. But you know, you guys kind of let us in in August and here we are in November. I was like what's going to happen, right.
Daniel:
But yeah, job change. Yeah, right, you had a job change.
Brad:
Yeah, had a job change which, yeah, can, can throw a little wrench in the plan, but, yeah, I'm just so excited to hear. So let's talk about this where, okay, you guys obviously started listening to the podcast back in December, january, 2021, 2022. Take us back there. Like what, what were some things that were you guys were struggling with? We're going to talk about your numbers here in just a little while, because these, I mean, you guys got to stick around and listen to what they've been able to do in the last 19 months or so too, but before that, though, like what, what were some of the things that were just not going well when it came to your finances and how that was affecting your life?
Daniel:
It was just consolidation after consolidation, after consolidation. I've labeled myself as the consolidation dad, where you were the debt free dad, I was consolidation dad. So ultimately it was you know, we pay off something and and or what you think is paying off, but it was really just consolidating debt, and then something would come up, and then also, we use the card again, and then we use the card again, and then we consolidate again, and then it was. We never understood the fact that how important emergency fund was, how, how strategic it is to have and to continue to build, no matter how much. At first, yeah, the $1500, $3,000, a good, good starting point, but ultimately you got to learn how to reshape as a to be successful in debt freedom.
Brad:
Yeah, so was there any talk about the feelings around your finances at that time?
Daniel:
stress anxious just just exhausted with being $100 to death. You know you got $100 going to capital one, $100 going to city, to the hospital, hospital, you know it just, and trying to keep up with all that it is a stress. It's like did I pay this, did I do that? You know tracking another thing, that that your, your program offers is staying in touch with that. This week we had fraudulent activity on our account, went right in there, do my daily 15 and boom, I saw it, called the bank, shut everything down, saved myself probably four or five, six different charges. And you know that I can dispute now and and and get that money back, rather than, you know, being in terrible shape, wondering if other things are going to bounce. Or you know, if I, what are the fees I might have to incur because somebody did something to us and and the just by making a purchase online, something, yeah.
Brad:
Now, how did you come across? Now, if I remember right and correct me if I'm wrong, and I know I think it was I think, danny, you found the podcast right. I think it was like a sales trip you were on, or something.
Daniel:
I was on on my way up to Ohio. I had about a 10 hour drive from North Carolina and I was looking for something to keep me awake and I came across. I was like you know, let me look for some because you know I have, you know, in past, me and Lori have, you know, done well at really trying to drive down debt, but we've never been successful with staying out of debt. So the thing was, is you know, we always had the zero interest credit cards and things like that, so it was transferring balances.
Lori:
It was like a revolving door. I mean we just transfer from a credit card that you know is now accruing interest to a zero. Yeah. And then it would give us breather. You know, so to speak in between, because it's out of sight, out of mind, it's not accruing interest. But again, just like he said, we never got rid of it, we just moved it around out of our way.
Daniel:
We would pay it down, but then to get to the point where, like I said, your hundred dollar to death and you're just you're exhausted with it, and you get to a point where then you consolidate, but that just frees up more money to spend again.
Lori:
Yeah.
Daniel:
Right and where you know it's 10, 15, $20,000 in debt, or more even you know. So in this case, you know, we turned around and I was on that trip and I found you and I listened to you for 10 hours straight, you know. So I got a good induction of what debt free dad was all about right out the gate.
Brad:
So it's crazy to me that you say that, though, that you listen to the podcast to stay awake.
Lori:
He'd been looking for a way to do some financial, just to gain more experience and to gain more knowledge on true debt relief. You know that didn't incur more money in the process Because a lot of those places you know we'll get you out of debt but it's going to cost you this much for us to do it and we negotiate with your credit cards and you know it's a scam for one more than likely and it's just putting you even more indebted into these places and these people. So he really was looking for something that was bonafide, that was true, tried and true and that other people had commented on and gotten really good success with.
Brad:
Yeah, so you. So obviously you you binge the podcast for quite some time. You come home, so tell me about that conversation with Lori, like hey. I found this strange dude on a podcast.
Daniel:
I know let her tell this story. I'm not even going to be in it. Go on, tell her how I treated you whenever I came home.
Lori:
Oh my gosh, he was like woman. He was like starting tomorrow, he's like we're gonna, we're gonna work on fr eedom. I was always like. I found this guy, Brad, and I really was like, okay, he's like. And he said that we got to do this no credit cards, no more eating out and I said you're doing too much. And he was like Nope, he was. I'm telling you, babe, he's like we do this. He's like we can be out of debt in no time. He said then we can have nicer things, we can do the things that we want to do. He's like, but it's going to take some sacrifice. And in the past, when Danny says it's going to take sacrifice, it's big stuff, like usually, like you know vacations.
Daniel:
Yeah, we're not going anywhere and I'm like, wait, wait.
Lori:
I was like I already don't like this guy. I know I'm getting brainwashed and manipulated and he's like no, listen to me, listen to me. And he actually, you know, brought up roots and we looked at it online and we were looking at people's testimonies and stuff and he was like babe, it's like he's like we're investing in our future and camera's future specifically, you know, to leave him in the best position possible Because, you know, life isn't promised. Unfortunately. You've, you know, experienced that firsthand, as we, you know, tomorrow is not promised and if you're not ready, you know, the people you leave behind are the ones that suffer. Right, and you know, slowly but surely, we looked into the program and, you know, just going through it, of course, doing our due diligence and researching everything, and he was like babe, he's like, with a small sacrifice, he's like we could do it. He's like I really think we could do it and for me, danny's always managed our finances Like he's just, he's really good at it, he's really good with numbers. I mean, he just he has an eye for seeing things and cutting. You know, cutting things off that need to be cut off. You know where we can save here and save there. And, yeah, at first it doesn't seem a lot like a lot, you know, $15, $20. But at the end of the month, especially when we started doing our food challenge, our lunch money challenge, which was a funny thing to do to encourage and motivate each other but man, we built up in a month, couple of months times over $400.
Brad:
Yeah.
Lori:
And.
Brad:
I want to talk on that because you guys, that's one of the things I want to talk about with you too, because I think you know I mean we got a lot of fantastic members inside Roots, but I mean you guys have been like carrying that flag in the front of the group for quite some time. You guys have not only just done that, but you also have motivated people with a lot of these kind of cool little things that you guys just started to do on your own. It's not even something that we have in the program, you guys just kind of put it together. So I do want to get back to that, but before we do so, obviously a little reluctancy as you guys joined. So you guys decided to join and jump in and can you talk about, like, when you got started, like what things did you start trying? Because, again, we got a lot of new people listening to this show. We got people who are right where you guys were. They're stressed, they're frustrated, you know can you share Because? you know people want to start doing some of this stuff. So, specifically like, what were some things that you felt really made a big difference for you, especially maybe in those first like three or four months?
Daniel:
All gas, no brakes.
Lori:
I'll say the. For me, the biggest eye opener right out the gate when we started this program was when Danny was like we you know we. Of course the program encourages you to track your spending, see what you spent and see where it makes sense to cut back and put that frivolous spending into paying off debt. You know, we didn't have any concept of spending $1,500 a month eating out, but we were like you know, that's breakfast, lunch and dinner. And you're like holy crap, man, like you don't realize the frivolous stopping at the gas station and getting something you know on the way or this way, the the excessive food that you buy and you waste in the refrigerator because nobody eats it, like just those things. I think, for me personally were like off the chart ridiculousness. We would never have even given that a second thought because we've lived our lives that way for so long. And then we're mownin' like we don't have any money left over. Well, yeah, it's because we're spending three quarters of our income eating out or going places and doing things that, yes, we want to do, but we were not financially in a position to do it at that moment. So for me personally, when he started tracking our numbers and I mean he gets on the laptop every night religiously, and we'll put our receipts in under, you know, miscellaneous groceries whatever it is, and we keep a running tally and we challenge ourselves every month. All right, we're going to dial this down a little bit more. Yeah, you know we're going to do this, but we set a plan for a vacation and that means cutting on some of these expenses, this, you know little stuff to put towards that vacation and not rely on credit cards and not rely on loans or that ever again.
Brad:
Right.
Lori:
And thus far it has worked tremendously for us. But for me personally, seeing the actual, factual numbers and the numbers don't lie was scary. It was scary and it was all the motivation I feel like we needed to jump in.
Daniel:
It was the behavior change. For me it was having the foresight, like she said. Once we went through the tracking, that right there, that that was the spreadsheet, that was the day, that was the game changer for a moment for us to see how frivolous we were with money. And then from that point it was like take action, let's get after it, let's go through the house. I was like you know, I had a four-wheeler. I haven't ridden in like four months. That was $10,000. You know that was easy money. Yeah, you know. I mean we just sold and got rid of things that we didn't need.
Lori:
I mean, even though not the kid though no take.
Brad:
I tried to sell mine too Nobody takes it we certainly used.
Lori:
But you know, but yeah, getting rid of a lot of clutter, yeah, so got a lot more that we're going to be going through Definitely. It was just. But it lit a fire in us as it scared us, but it motivated us to develop these little challenges and these little things, to stay encouraged, because it's hard when you really want something and you can't get it. You know, it's easy to just say, well, I've got $600 saved, I'm going to go buy whatever, versus saying well, can we turn that six into a thousand by the end of the month? I dare you. Yeah, you know that's where those kind of little challenges developed and came into it to make it fun, but to show us that we're capable. We can do this if we try.
Daniel:
Yeah, we can settle up right now, because today's settle up time, you know right, right.
Brad:
Well, I love what you said, danny, about you know all gas, no brakes, and I think you know there's there. I said and we talk about this in roots all the time you guys hear me say it all the time it's like the more action you take, the more results you're going to get. You just have to, you just have to put all of yourself into it, and it's not forever Like you guys have now done this in 19 months and I want you guys to share your numbers here in just a second. But you guys have done this in 19 months and not to say that you have to stop, but the majority of the hard work has passed you now and now and now you get to enjoy being debt free. I mean, it's, it's that's what I want people to understand when they're listening to this. It's like, look, we're not asking people just to you know, do this forever and for the rest of your life. Like you work hard for your money, you should enjoy your money, go out, do fun things, live the life that you want to live. But, man, leave the financial stress behind, and you guys have done that, and I think you guys are just a perfect example of what it looks like to look like to take massive action and how quickly things can start to turn in your favor.
Daniel:
Yeah.
Brad:
So cool. So, anyways, I want you guys to share real quick what, in total, have you guys been able to save and pay off? And again, this is over a 19, but it was like one one year, seven months.
Daniel:
So about 19 months.
Brad:
What did you guys? One year, seven months, yeah.
Daniel:
One year seven months. Um total was $134,718. 32. $10 9,127. 95 was debt.
Lori:
Whew Of that number. I mean that's ridiculous. Can you imagine that?
Brad:
just has to feel like one, it has to feel like just so relieving.
Lori:
But number two, you got to be like wow staggering, staggering to think that we accrued that much debt.
Daniel:
Yeah, we are. We are in a position now, Brad, that we are. Like I said, I took the. I took every advantage of my opportunity where I was. We were short staffed. We had someone out on workers comp. I was working 150 hours every two weeks. I was working 12 days and two days off. 12 days and two days off. It came at a huge sacrifice, but it was worth it. Um, you know, all the extra money that we were making at that time was going directly towards our debt. You know so. I know that not everybody has that opportunity and that, and it's it's unfortunate that people don't Um, but you know, even still, I think that even if I didn't have that opportunity, we still would have been door dashing, doing whatever we had to do to somehow some way to to find some kind of side hustle, some kind of I would have started building Christmas ornaments and things like that, just, uh, you know, just to make something happen for us to, to keep the the steam going, because it was that important to us.
Brad:
Yeah, yeah, Well, I think you know you're right and we talk about that a lot, you know around here. It's like you know, it's easy to sit back and look at someone like you guys and say, well, I could never do something like that, and people will just use that as a roadblock not to start. And it's like, okay, you need to change your mindset, you need to change your perspective and you need to look at it and say, okay, I can't say do that for my workplace, but what?
Speaker 2:
are the things that I can do.
Daniel:
What are the things that I'm willing to do Right and and focus on just that stuff, um yeah, because sometimes this, as much as ask, you know, there, there, sometimes it's just a matter of asking, hey, can I get some overtime, you know, and and you might open up a door. You don't reckon that you, you could have open. You know it's there right, you know you got to take advantage.
Brad:
So, looking back, when you guys started, would you have ever imagined being able to do something like this?
Daniel:
and and I keep punching the numbers, thinking that they're not real. You know, uh, from last month to this month, I mean, it's $138,388. 53 total. But now the number's going up in the bank account. Now you know, and and you know that that was the main thing is, you know, like we had to learn to save. That's, that's all it is.
Lori:
Sacrifice and save. I mean like we just filled up our propane tank for the winter, for our, because our gas fireplace is more economical than running the central air, you know, heating and air and that was two hundred and something dollars that we didn't even flinch at because we have it Right, and we actually overpaid it on credit. So we'll be getting about a third of that back because it didn't even come out to that. But things like that. You know Danny's been paying our water bill. We've got like a hundred and twenty three dollar credit on the water bill. So we can, you know, pull back on that if we had to. But it's just waking up and being at peace with going to work, even when you don't want to go to work because you're like oh, that's house money, you know we're paying, paying a payment and a half a month extra on the house. Man, I mean it's really home full circle and for us we would have never imagined it would have happened this quickly.
Brad:
Yeah.
Lori:
And it didn't hurt. That's the thing it didn't hurt and it didn't feel like we really sacrificed and the crazy thing as much as we did. It didn't feel that way.
Daniel:
The most amazing thing and crazy thing to me is is all the information is out there. It's not like you. I mean you put together the program the way that needs to be done but it's in layman's terms and it's really is relatable and easy to follow and that that's what so many people miss. And that's what I was. All the information was out there. I could see that. You know I don't know how many things tell you to have an emergency fund. My bank would tell me to have an emergency fund, but the thing is, Having a Program is what what really makes it? And I'll tell you what the the group is. Man, I tell you what I it's a great community. It is is a great community of people, um, you know.
Lori:
Experiences. I think that's what makes it real.
Daniel:
Yeah, it's relative, you know very relative. Yeah, I wanted.
Brad:
I'm glad you brought up the group because I want to. I want to talk about patrice right and and patrice Johnson. Patrice Johnson's been on our show and she's also another one. She was on her. She reached that freedom last year end of 2022 and.
Speaker 2:
I believe, she had.
Brad:
She had started around the same time right before you guys, right, it was like a few months.
Daniel:
Yeah, she was the gas on our fire, right? I was like, yeah, look at her, you know, like every week, and Lori's like.
Lori:
Oh, I want to hear about patrice, no more.
Daniel:
I was like that's my girl right there, we're on her coattails right now.
Brad:
Oh, I love it. I love it. But yeah, I mean I love, and you guys aren't the only ones. I mean. We find people that are become friends, they become accountability partners. There's just value in that community and I, you know, I tell people all this all the time. It's like I would love to say it was just me that motivates everybody, but it's not it is. It is the community in that group that really is the driving factor you founded, though, brad. You brought this particular We'll take a little bit of the credit, but honestly, it's because of great members like you guys who come in and now you guys are motivating other people and it's just. It's incredible to see that and I think for and why I wanted to bring that up is just, if you're listening to this man, accountability is just such an important part of this and and to see, you know, daniel and Lori constantly showing up to our live meetups every single week and Patrice also being there and the and the two of you guys, you know, going back and forth and supporting each other. You know that's where the magic is and we, you know there's. We always say that there's no real magic to getting out of debt, but there, is kind of when you, when you can really harness the accountability side, and I Loved seeing that between you guys and you guys would talk all the time. It's just so cool.
Daniel:
And it's. You got a. You know there's, there's somebody that that you can look up to, and then there's other people that can look up to you. You know I'm saying so. The thing is, is it? It kind of goes both ways and, and, being part of the group, I feel like it's a, it's a real good part of of paying it back. You know I'm saying because, yeah, we are thankful, we are blessed to be in a position to be debt-free at this point. And the thing is and it was, it was due to the program. You know I'm saying yes, you created it, but you know, to encourage others whenever they're, we were there. There's some months is just boring, you like, okay, I didn't really do much different this month and right, it just don't feel like no traction, no, no real big movement this month.
Lori:
But and it's kind of funny too, because things that we wanted to do before they were like, man, we don't have money, we don't have the money. Now we have the money. Like, oh, I've been wanting to go to the state fair and and see for years, now, we're okay, we're gonna go this year. No, I said inside Danny's oh, you want to go. And I was like, no, it's too expensive. Now it's kind of flipped on us, but in a good way even still. You know what I mean, we'll go out for sure, but he's always gonna go say prayer, we can go today. And I'm like, no, those, you know, it's like $20 in, it's like $10 for four tickets. I'm like, oh, just doesn't make sense, it's too expensive. And it's so funny because I'm like dang, you know, a year ago I would have been like thank you, let's go, you know, and spend, you know, two, three hundred dollars and have nothing but a stomach ache to show for it. You know, yeah. So it really is kind of funny because it's a mindset and it's a just like you learn poor spending habits, you can learn saving habits right. You can learn to be content with little as as opposed to a lot, or quality versus quantity kind of thing you know right things like that it's, you know we're Done big gun enthusiasts, you know. Nice to go out shooting, nice to be able to, to buy another, you know, add to the collection. Yeah, which is more practical than just, you know, going to the fair right and it's fun, it's nice, but you know things like that. We can put that money towards more practical use, towards something you know more memorable, and it just you just shift your thinking. It's just shifting your way of thinking, you know, and, honest and truly, if you just give it a try and just put in a little bit of effort and you see it take off, it's all the encouragement you need, yeah, to keep going.
Daniel:
Where you're at, that is everything.
Brad:
Yeah, yeah, when we have you track. Yeah, we're every three months where you're at.
Speaker 2:
Yes, makes a huge difference.
Brad:
But, lori, I'm glad you brought up the mindset thing because I think I think that is something that All of our members kind of go through, especially if they're here and they're really on the journey is. I think along that journey You're, your whole entire financial mindset changes and you really begin to figure out and there's not like one thing, it's just like the journey in its entirety. You begin to figure out like what's truly important to you and it becomes at least in for me, and it's taken a while to get there, but it becomes so easy to just say no to a bunch of nonsense, stuff that just really cost a bunch of money. Like you were saying about the state fair, and for some other people the state fair could be an amazing thing for them, but for others it's not and it's like but when you're broke it just seems like you're you're just spending money just to kind of temporarily make yourself feel better or just kind of mask of the real problem sometimes. And it's like when, when you finally get out of debt and you actually see like this is this money represents all the hard work we put in our jobs and the time that we spend there, and you know it's like you just value it way more, not necessarily the money, but just what that money can provide to you, based on what the life that you want to live.
Daniel:
Right, and that's the best. Exactly at Brad we're. We're at a point now we're at a point. Now we just want to become our own bank. We just said you know what we can save and and keep saving, and you know Everything that we were spending in debt. I was like putting that in the bank and then if we buy a car or do this or do that, we take it from the bank. We're going to pay ourselves back the interest that we would have accrued, you know, for taking the loan from our own cell. It's just small little challenges that we make within ourselves. Instead of paying somebody else and giving a piece of our wealth away, we're going to start paying ourselves rather than paying, you know, and and paying towards the bank and paying towards our retirement and things like that. Yeah, so you know, that's where we're at now and, in the grand scheme of things, is we're we're geared to probably downsizing the next year. You know, we've got a lot more house than what we need, sure, for the two of us, we like to get us a little piece of property, you know, a little wood piece of property, and maybe do a little barn Dominium on it and you know, and Pretty much pay cash for it all the way through. So I love it. You know, that's great equity in our house, where we're you know, like I said this, desirable school district neighborhood.
Lori:
I mean we really got and a lot of advantages being where we're at, but you know, just getting the house primed ready, painted, new flooring We've already got the flooring that's been bought and paid for already just sitting waiting to be put in. I mean, it's just things like that we couldn't have imagined being in that position three, four or five years ago. It just wouldn't have been a reality. We would be trying to find ways to, to buy it on credit and not having to now and it's sitting there in it's ours. We don't owe anybody anything for it. And in particular for couples, I think, encouraging each other it's hard to have one in and one out and I think for me I've always trusted Danny. I mean, you know you're gonna have trust in a marriage first and foremost, and I think just the way he spoke of the program and of the podcast when you heard it initially made me excited. I mean, initially there's hesitancy, there's like, oh, we're gonna be. You know turkey sandwiches or baloney sandwiches forever. And we just found ways and really it opened up other things to us that we wouldn't have considered and it's been easy. Easy in the sense of we don't miss it because we're not seeing it, we're not spending it, so we don't miss it. It's going in the bank. But encouraging each other, even when we don't want to, you know it's easy for one of us to be like I don't wanna cook tonight.
Speaker 2:
Yeah.
Lori:
And you know, well, like the other night, where do we go? No, don't do it. We went to go vote. I already had meat thawed out, I was gonna cook, and he's like, we're gonna go vote, turns out we couldn't vote. We were not in that municipality. He's like well, let's just go get something to eat. And I was like he's like you can make that tomorrow, and I did. I made it the very next day, but it's things like that. You know, okay, well, we'll go eat on a Tuesday night, but Wednesday, thursday, we had dinner aid, right, and it's things like that, and I've been cooking a lot more than I like to here lately, but it has made the difference, it really has. And we eat breakfast together in the morning, which is really nice, because now that he's at his new job, I actually get to see him and spend time with him. So that's time for us in the morning, having breakfast, gearing ourselves up for work. Sometimes we meet for lunch at the house. You know we'll come home for lunch. We're both less than eight minutes away from the house.
Brad:
Right love that.
Lori:
We'll have lunch, have lunch home, go back to work and then dinner at home. So it's, I don't know, it's just it's not been as hard as one would think.
Daniel:
Yeah, it's just, it's a matter of priorities. You know, you have to prioritize what's important to you, and I think there's an old saying you spend time with what you love. Right, if you love money, then you need to spend time with it, you know, if you and grow with it. If you wanna have it multiply, you're gonna have to spend time with it. Your finances, I mean. It isn't always fun, it really, especially whenever you first start this program and everything's tight and you're like where am I gonna pull from here to there? And you know, and if you're fixed that way, yes, you are going to have to sacrifice. There's going to be some beanie weenies and things like that. But you'd be surprised how many meals are in your house if you just look for them. Right right, get a little bit creative and just give it a shot. You know there I don't know how many times where we were just on no spend we've challenged.
Lori:
We had breakfast for dinner. How many times?
Daniel:
Yeah, because it's there, right. So you gotta use what's in front of you, you know, and the program brings it all to you and if you have a question the group is there for you for the support, and I've never seen anybody ask for a question that didn't get a bunch of different replies.
Brad:
You know which is which is really cool. Now, you had brought up, Lori, your guys's little challenges that you guys would do. So can you guys, can you guys share with the listeners, like what you guys did? And I thought it was. I thought it was so cool.
Lori:
What did you guys?
Brad:
start doing.
Lori:
I'll give Danny all the credit for that one, because he was like okay, Lori, he's like no more Bojangles and McDonald's, like it was only me mind being. And he was like because we're just wasting money on $10 breakfasts and $10 lunches. He's like so this is what's gonna happen. He's like give me your card and I'm gonna give you $50 for the week. And I said okay, and you, he's like I'm gonna give myself $50 for the week as well. I said okay. He's like that's, if you want breakfast, it comes out of that. If you want lunch out, it comes out of that. He's like whatever's left at the end of the week, we'll settle up. He was like and that goes to the savings.
Daniel:
Well, unexpected emergency fund or sinking fund is what I always thought.
Lori:
I'm thinking now. There was never really a reward for giving him my leftover money at the end of the week. Now that I think about it, there was no real reward if he won or I won. It was just bragging rights.
Daniel:
Are you not debt free woman? Are we not debt free?
Lori:
But it was bragging rights, but it actually was a really fun competition because I was like, if I starve myself, I'm not spending this money. I have to beat this man. And there were weeks where I was just kicking his tail. And then there were other weeks where I was like I really wanted that and he was like well, he's like you spent it. Yeah, oh my an d my co-workers are the worst, but we got into and it was just so much fun. Even our kid was like, well, settle up, who won this week? Dad, and he'd be like mom kicked my butt, he's like, oh, he's like I smoked your mom. But in the interest of and we're very competitive in this family, we're very competitive. It was just. It ended up being a really fun thing that we started doing and we've done it every week for how long now?
Daniel:
Since we pretty much started. Yeah, it's been a while.
Brad:
He has been going.
Lori:
Look, we are not ashamed to say that when we're walking in the parking lot we're looking for pennies, nickels, quarters, dimes that may be on the ground and we will scoop them up like vultures. Yeah, I mean, we have shake, we have we not? Because we On our car, mats everywhere.
Daniel:
we're like ooh, the funny thing is is like she'll turn around and sometimes you'll beat me by 25 cent or something you know, or I'll be her by 50%. You know 50 cent. I was like that was my parking lot change as we you know.
Lori:
Oh my gosh we're the worst.
Daniel:
I got that quarter from Aldi yeah.
Lori:
We are the worst with your mat, yeah, but it's just turned into a competition and it's so fun, it's so funny. We're walking holding hands and we're looking he's one way and I'm the other and we'll walk into a pole or something because we're just like I'll pick up a quarter and he's like, ooh, that's mine and I'm like I found it and it'll snatch it from me, but it's so funny to see him.
Daniel:
At the end of the week He'll get out, we've got a big old like it used to be a whiskey jar or something. My last is jar or something.
Lori:
But we put all our change in there, all our spare change. He can sit down. He's like ooh, he's like four more quarters, and I can roll it.
Brad:
So he's rolling our chains and we have like $10 a quarter.
Lori:
He gets so excited. He's like, ooh, I need three more cents for pennies to be able to roll these pennies and you know somebody would be like seriously rolling change. Yeah, it's stupid, so exhilarating and so fun to do Because you see that dollar turn into 20, turn into 40, turn into 100, turn into what we got, like three or $400 more than that we got over $500 and then there's change, it's in a year Wow.
Daniel:
Like we don't spend it. I'm like, well, you know what? There's a coin shortage. I was like that is the best kept secret. I think that anybody when it comes to saving because, like I said, you just don't think of the value of change happening, no right. So you know, every time we would spend during the week, that change just goes into the jar and then all of a sudden it turns into $20, $30, $50, $100. And you know, is it gonna pay off your debt? No, probably not. But you know what? if a big emergency comes up, an emergency something comes up down the road that needs money, you know, and I'm like, hey, this is just something I don't really keep up with. You know, every once in a while I go in there and count it, you know. So.
Lori:
But you see, it add up and it's so exciting.
Daniel:
Yeah.
Lori:
I mean it really is exciting thing. Like you said, you throw your pocket change in your cup holder, your car, you throw it on the counter. Our kid is the worst for leaving it on the bathroom sink and I will take it every freaking time Because you still live in my house. You don't pay for anything. I thought I'd consider this cleaning fees and he said I have like $1.12 on the counter. I was like you did. You don't now, but it's just. You know, it's almost like you get a high off the savings. You know where you would be so fearful before and so stressed out and so mad about sacrificing a meal or sacrificing a pair of shoes. Or we went to Smithfield, which is where like an outlet mall is, and we walked into every handbag store and he even offered he's like it's time for you to get a new bag, you want to upgrade your bag. And I said no, I don't need anything. Normally I wouldn't have probably picked a bag in every store and walked out with it because I'm spoiled we all are but I was like I don't need it, I have plenty of them at the house. So, but just being able to say no and be fine with saying no, yeah, I would not have been me 19 months ago, Right, you know it. Just, I would have been like, yeah, I want it, let's get it, and not even thought about how we're going to pay for it. You know, Right, but it's like fast forward and it's like I don't really need it. You know, I'll buy a $20 bag over a $200 bag If I really want one. It's just those things that I would not have been happy doing then, that I have no qualms with doing now Because in the long run it's going to benefit us, it's going to benefit our kid, and if I want that bag today, I can go buy it. But and not have the fear, the incumbrance of well, you know what about the utility, or what about this?
Brad:
Right.
Lori:
And even doing things at the house. You know, cutting to our streaming services, Danny keeps the thermostat on hot all the freaking time, so it's always hot in this house but I run the fan and stuff and it's still cheaper on utilities. But or we open the windows or you know there's just so many alternative things you can find and do to cut costs and to save money that aren't out of your way, that aren't going to put you out, yeah, and it's just so much easier if you just look for those things. No-transcript. You know money saving opportunities. There's plenty there. Yeah, there's plenty there.
Brad:
Well, I think, why you guys have found why that you know why that's worked so well, especially like the change and like the little savings. Challenge it because you guys gamified it. You made it fun. You know, and I think there's a lot of ways that you can do that, like Chris on our podcast he's a co-host on our podcast and he talks about that a lot like he gamified his you know way to get out of debt. Like you know, he's like how how can I? I want to pay off a little more debt, how can I come up with an extra $200 this month? What are some things that I can do? Like any, almost gamified, that which which helped them take action, which action creates those results. So I think you know, you guys sharing that, you know, I think, for you guys listening to this, I mean, I think those are some great ways to motivate you and make it a little bit more fun, make it a challenge.
Daniel:
Well, it's accountability to right. I mean it really goes into accountability thing. It's like us holding each other accountable to. Hey, I'm not gonna try to overspend this week. You shouldn't try to overspend this week. But it wasn't that. We were actually Like I said that money was budgeted for, so it was. It was there it was. We could waste it on on it, or we could pack a lunch.
Speaker 2:
You know that just me, and then we could bring that $50 home.
Daniel:
You know there was so many. I think there was one week I found 60 bucks on the on the ground, just laying on the ground. I was like I stayed there for I don't know, probably 15, 20 minutes. I was like, and you know, I sat there and I waited and I didn't see anybody and I mean it's out in the parking lot. I was like, you know, hey, they're not coming back Lord. I think you know it was a blessing, you know. But yeah, I came home. I'm like I'm beating you this week, woman, it does.
Lori:
It's in the totals but you know, and for couples, support, support, support. Yeah, you know you have to. You have to Support each other, have each other's back and stay encouraged. You know, when you have one in and one out, you know it's hard for that one person to shoulder all that responsibility While the other person's still doing the spending or doing. You know, yep, and for couples and I hate it for you, I know it's hard but, man, that relationship and that foundation of trust is a big one.
Daniel:
I think one of the things, one of the biggest accomplishments in our finances are Are are the fact that I have an account, Lori has an account and then we have a bill account. You know there's so many times where I try to put this out there and in in the group. We're on all the accounts but, but nevertheless she has a spending account, I have a spending account and then we have our bill account. So basically with that we totaled up all our debt, we put the base, you know, maybe a little bit more than what the base was $5, you know. So if it was 60 bucks we put 65 bucks in there for, like electric, because you know electric bills are going to fluctuate this way that way. So the months that are cheaper than then the other, we it would kind of offset and then same thing with cable, same thing with water, same thing with electricity. You know, we, we would try to say, okay, well, this is about what it is every month. So we just jump it up, maybe $5, $10, right, and then we knew all our bills would be paid. We get paid by weekly but separate weeks. But so nice, we just started drafting, you know, our bills, money, like you know, we've divided by four and said, okay, this what's got to come out every week, and then this is what we'll do is divide the rest into these two other accounts and saving or saving this amount. And that's how we did. And a lot of the debt that we paid off was we saved it first and then, where I could have probably sent it, you know, a bigger payment or paid off something here or there, but zero interest. I like to actually see in the, the growth Right, the savings for myself right, to see that that I was going forward. I was moving forward fast, you know we're hey, if we can save this now while we're in debt, how much easier is going to be to save when we're out of this right. So now I mean we're saving three hundred fifty four hundred dollars a week right now, Brad. I mean, I know that's not, that's not everybody's income, I mean, you know.
Brad:
But the thing is is and we're looking to do more, you know, and that that isn't including our spending, our pocket money, right, you know right, but I mean you just mentioned those numbers and so if you listen to that, you're like there's no way I'd be able to save three or four hundred dollars. If you're listening this right now, go home, total up how much debt payments you got going on every month and then just imagine those don't exist anymore. Don't include your mortgage or your rent. Keep that because most people are gonna need that, right, but get rid of everything else and just total up what that is for the month and just say what else could I do with that money to build the life that I want? And that's where that money comes from. Man, so that is so incredible. So you guys, I dev, we have just like a minute or two left. If you, if you had a share or give some sort of piece of advice to the you know, daniel Laurie, before you started all this, or someone who was feeling very similar to how you're feeling and now you guys are Debt-free after 19 months, like what type of advice or suggestions would you give to them To get them going?
Daniel:
Let's go. That's what I'm putting on all my phones.
Brad:
Let's go, let's go, you're right.
Lori:
I definitely think you know. Put yourself in a position where you put yourself first, put your financial freedom first. Give yourself that peace of mind, that comfort and knowing that if something happened today You've got it covered, that you don't have to rely on anybody or anyone, any financial institution, anybody else but yourself for it. You'll appreciate yourself so much more for it. You'll appreciate the value of a dollar way more for it. And it's just Getting started. Start and don't stop. Even when you trip and fall, get back up and keep going. Ask somebody for help, ask somebody for Guidance, ask somebody for encouragement. Accountability just don't stop, don't stop, don't look back.
Daniel:
Find your patrice. Patrice was ours, yeah. So find somebody that you want to latch on to and and watch what they're doing, and, and don't be afraid to reach out. I mean, if we could ever be a help to anybody, work, work here. You know, all you got to do is send us a text or on messenger or whatever and we'll be glad to to share. We're open books, we don't. You know, we got here because of the program. Yes, absolutely.
Lori:
And our desire to be debt-free and what that looked like for other people. We wanted that, you know. It was the the ability to just take a breath and not have to Wonder how you're gonna feed your family, how you're gonna close your family, pay a bill, keep the lines on. There's so much peace and Knowing that things are taken care of and that you're okay. You can sit back and watch TV, not have a care in the world, because everything's taken care of. It is worth doing a thousand times Over. Do not quit, because once you start to gain that momentum and you see it really Multiplying and starting to add up, it is the best feeling of the world and that is all the encouragement you need to keep going.
Daniel:
Well, it's just that that one thing, once you see that one debt got paid off now, but what you have there towards the next, and and watch it, and watch it. Just keep Going right up the mountain. You know you're gonna be at the peak of that mountain, so quick that you'll. You'll be looking back, like we did, and and Running your numbers and be like how in the world I get every night I'm sitting there, thinking I'm like man. We still but the same head of steam that we have our house be paid off in a year or two, you know. So I'm like, yeah, it's just it filed to think, you know, we live our lives strapped and and a slave to to debt. You know that we're we're helping everybody else obtain their wealth. Well, well, given them a piece of ours, right.
Brad:
Well, danny and Lori, just a huge congratulations to you guys, seriously for me over the over the last 19 months it has been so much fun to watch you guys and just be a part of your journey and just to see what you guys have done, and not only that, but just how many people you've motivated Inside roots and people you've cheered on and you guys talk about that community but you guys have been a big part of that and Building that environment of support and I really can't say it more enough like I have appreciated you guys being in that group, so much so I hope you guys continue to stick around in there and still continue to update us on what's going on.
Daniel:
But I love you guys. We've been quiet because we're debt free. I didn't want to like. I don't want to Slip up, I know. I know what that little bit been been hiding a little bit right shock.
Lori:
Right, we've been in shock. I mean, really, we were debt free, honestly, before October, right, but it just did not make sense. That's why he was like, no, these numbers, these numbers, literally, we've been debt free since August, probably July, august. But he's like there's no way and I like, well, if you take the four, you subtract, carry the one, do this. It really is. I mean, it's, it's shell shock, yeah, to see such a staggering number that's one person's income, yeah, or you know to be. It just made no sense. So hopefully that number is gonna turn into a positive in the same direction for us moving forward. That's our goal, yeah well.
Brad:
Congratulations, guys, and, as we are recording this, also on Veterans Day, lori, happy Veterans Day. Thank you for your service.
Lori:
We appreciate you, thank you appreciate it.
Brad:
All right. Thank you guys so much for being here and for you guys, for you listeners out there, I hope you have gotten a lot out of this and and use this as motivation to get started, because Daniel Lori are normal, everyday people, just willing to do some things different, take some massive action, like we talk about a lot on this podcast and Really, the only question is why not you? There's, there's really nothing stopping you. It's just got to get started.
Lori:
Absolutely, let's go.
Brad:
Let's go. Thank you, brad, let's go.
Daniel:
Thank you, let's get it.
Brad:
So the totally awesome Debt freedom Planner is helping so many people make consistent progress with their finances, whether that be building emergency funds, paying down bills, budgeting, tracking paydays, saving up for larger purchases, goal planning and planning for those irregular yearly expenses that always seem to catch you by surprise. Now the Debt freedom Planner will help you take the stress out of managing your money. And if the thought is running through your mind, hey, I just need to have a simple tool to get my finances together. This planner is perfect for you. Head over to therealdebtfreedad. com, click on the Debt freedom Planner in the menu at the top of the page and order your Debt freedom Planner today. All right, as you guys know, that sound is the time for the celebrations of the show and, of course, again just a huge shout out to Daniel Lorie for joining us and just man, what an amazing story. It's been honestly just an honor of mine just to be a part of that and just to watch it over these last 19 months or so. And these guys they just proof that you can make some amazing changes if you're willing to take some massive action, and that's exactly what they've done. So just huge congratulations to those guys. So we're going to kick it off here with Teramin another huge accomplishment over the last 90 days or so. She says the new challenge asks where are you at? So we have paid off $10,777 since starting Roots in July and at the time of this recording that's about 90 days since she started Roots. Over 10 grand paid off. That's not counting my other credit cards that I had because I never put it on my page. This is amazing to see it on paper, just like this. And Tara man, it is amazing. You guys have been just doing so awesome, just so proud of you guys and I know what a great feeling that's got to be. So congratulations, Claudia Ann Kelsey. We stayed within my grocery money this week and we paid all cash. Claudia Ann, that's a fantastic win. Congratulations. Jennifer Spray says I started Roots, which is awesome. Glad you're a part of our community Committed to 30 minutes of finance podcasts and listing two things a day on Marketplace. Love those action items, jennifer. Congratulations. Keep up the great work. Kim Schmidt keeping on the course, kim recently also became debt free. She said she's decreased bored shopping and was able to put $180 into her savings this past week. Kim, congratulations to you. Great job and to wrap up celebrations for this episode Tawana Mack. I love Tawana man. She found us on TikTok and within a few months, man, she is just making some great progress. Check this out. I put an extra $200 towards another debt this past week. I have. Now I have an extra $100 cushion in my account as well, just in case. So her biggest win is that she's had no overdraft fees because, baby, she says they had me in a choke hold. And yes, kicking overdraft fees, getting yourself organized, getting yourself on that budget, getting yourself on that plan, man, does it save you a lot of money, saves you a lot of stress. So it's, tawana, really proud of you. You're really, really working it. So great job. Keep up the great work. And hey, to all you listeners out there who are thinking different you're willing to take some chances, willing to try some new things, and maybe you're listening to this podcast and that's encouraging. Hey, we're proud of you guys too, because, going against that herd mentality of paycheck to paycheck living which so many people live in this country, it's just no way to live. So it's awesome that you guys are taking a different approach. Hey, if you're just getting started with our podcast, or maybe you've been listening for some time and you're interested in how you can get started on the road to financial freedom, go visit our website at debtfreedad. com. Sign up for my free Life Without Payments workshop or I'm actually going to show you the very first steps that have helped tens of thousands of people just like you and I kick financial stress and worry for good. Hey, we will see you guys next week.
Speaker 2:
Thanks for listening to the Debt Free Dad podcast. Connect with us on Facebook, tiktok, youtube and Instagram at Brad Nelson Debt Free Dad. If you found value in today's episode, please leave a rating and review. We so appreciate it. For resources, show notes and links mentioned in today's show, visit Balancedcents.com. That's Balancedcents.com. Catch you next week.
