- We've called in a couple who is
currently where, probably, a lot of you are.
They are paying off debt, but they want to move.
But they want to be wise.
So, welcome to the show, Emma and Rolando.
Thank you so much for coming on and sharing your story.
- Thanks for having us.
- Yes, thank you for having us.
- Absolutely.
Okay, so you guys are on the debt-free journey right now.
You're working your way out of debt.
So, I wanna know: How much debt did you have,
and how much have you paid off so far?
- So, we started out with $169,000,
and in 25 months, we've paid off $153,000.
- You guys, that's insane.
That is absolutely insane.
- Thank you.
- Okay, I wanna know: What made you start?
When you had all that debt, what made you say,
"We want to actually get out.
We want to do something proactively
with our money and get out of debt"?
How did you— What made you start that?
- So, initially, Dave came to our church
here in Houston, and he made the pitch
for Financial Peace University, the class.
And Rolando was pretty much all in as soon as he heard it.
I was more hesitant.
We both have student loans.
I had almost $90,000 in student loans,
so I figured I'm always gonna be paying
these loans, anyway. Why would we sacrifice so much?
And then, we laid out all of our debt
when we got home, and that's when it hit me
that we have to do something about this.
Dave illustrated a borrower being slave to a lender
with the chains, and that just got me.
Whenever we laid out all of our debt,
I said, "We have to do this.
I'm literally working to pay my student loans."
- Totally. Okay,
so how long will that debt-free journey be,
from start to finish?
What do you predict?
- From start to finish, it'll be about 28 months.
- 28 months, okay.
And you guys own a home currently.
- We do.
- And so, are you guys happy there?
Are you itching to move?
Where are you at in that process?
- So, we're kind of on different sides of the fence there.
We're both happy where we're at.
However, I'm excited that, once we're out of debt,
we'd be able to save up, sell our home,
and eventually purchase a larger home.
She's got a different perspective on that, though.
- Yeah, I guess I'm the more content one,
I guess you could say.
He's already looking at homes,
you know, "Just for fun," he says,
ready to move to a bigger house.
And I'm just more content and comfortable
where we are already.
- Yeah, so I'm curious: What's the biggest
motivation to move?
Do you feel like you're busting at the seams
for a bigger home, or are you just like,
"Man, we could afford it, and it'll be fine"?
What do you feel?
- I think it's both, right?
So, as our family grows, I'd love to
grow into a bigger home.
And then, again, being out of debt,
not having that weighing us down—
It'd be a whole lot easier to move into
a bigger home because we can then afford it.
- Yes, totally, totally.
Okay, so the fact that you kind of have that itch,
and together, you guys may not necessarily
want the same things right this minute—
what keeps you from not doing it?
What keeps you guys paying off all your debt,
saving up for a down payment? What keeps you
on the plan when you still have that itch to move?
- I think, starting off, it's understanding
that we're so close, first of all.
We're so close to being out of debt,
why jeopardize that at all right now?
And then, just being able to say we're free,
we're debt-free, we don't have any bondage now.
And then again, it'll open up and free up that income.
- Yeah, and I agree with that. And it's also
seeing the success of focusing on this
getting out of debt— how successful you are
by just focusing on one thing,
rather than spreading your efforts out.
And then, just remembering why we're doing this.
We have two little ones, so knowing, like Dave says,
we're changing our family tree,
and that is worth the wait for us.
- So good.
I mean, that's just the classic example of
that long-term goal.
That long-term freedom, what you see.
It may not be in the moment, but you see it's out there.
You see it's possible, and that keeps you motivated,
which I think is just so important.
So, what would you say to someone watching—
maybe they have $85,000 in debt,
and they're like, "Man, I think I'm going to
start this journey, but, ugh!
I hate my house. I hate the carpet in it.
I hate the paint. I want a different floor plan"?
And they just want to move, right now,
with all that consumer debt. What would you say?
- I'd say, "Just wait.
It'll be worth the wait.
And, again, because you'll be able to use the income
that, instead of paying toward debt,
you'll be able to throw it at a house.
You'll be able to, possibly, afford the home of your dreams,
instead of having to settle for something less."
- Yeah, I agree that it would be worth the wait.
And you have to learn to— I guess my big word
is just being content and be happy for what you do have.
Work at this current goal, and know that,
in the future, those all will be possibilities
if you don't have this debt weighing you down.
And, like you said, you'll have
even more options available to you.
- I love that.
Right, because it's not like you're never
going to be able to have the nice home, right?
It just may be putting things in place
for you to enjoy that home so much more than right now.
So, I think that's such good advice, you guys.
And you're killing it.
I mean, you guys are doing crazy stuff right now,
paying off all that debt, you're sacrificing,
putting some of your wants aside for the moment.
But absolutely, absolutely incredible.
And you're exactly right, what you said earlier, Emma.
You are changing your family tree for those two kids.
So, thank you so, so much for coming on
and encouraging those watching.
- Thank you for having us. We appreciate it.
- Thank you so much.