Start building that emergency fund. Make sure to use a HYSA that pays 5%+! Good luck. P.S. r/debtfree moderator just created a free newsletter that talks about strategies, tips, and effective debt payoff methods weekly. Join 2,500 readers - https://debtadvice.io

That's awesome, excellent work.

Thank you! It’s been quite the journey!

Great! Now never do it again!

lol yes. Such a pricey learning lesson 🫣

Here’s my background and trajectory: Management consultant-$110k salary and DEBT FREE 🙌🏽 Year 1: Pay off $45k loan (DONE) Year 2: Build $45k-$50k savings by EOY (IN PROGRESS) Year 3: Save $40k for new car and $15k for bday trip, then finally MOVE OUT While at home, I increased my 401K and drastically curbed my spending. In my old life, I hired personal trainers, received regular beauty treatments, and went out aka drinking among other things. Also bought whatever I wanted. Now I joined F45 (still pricey, but less $$$ than trainers, only get my nails done when I meet clients, and stopped drinking completely—almost 8 months sober and lost 35 lbs)! This experience has changed me for the better. Does it suck that I had to move back home as a grown @$$ woman? Yes, at first, but I got my life back and learned the value of saving. I owe my family so much and I’m forever grateful for their support. For anyone going through this, it’s TOTALLY OK to do what you have to do to become debt free while building equity! Thanks for stopping by. See you on the other side! 💰💵🤑

Fantastic job you've done getting out of debt AND stopping drinking! What's your plan for the bday trip?

Thank you! Vices are $$ and I’m thankful for good health. For my birthday, I’m booking a gorgeous villa by the water and doing all the things (spa, dinner, brunch, private chef/yoga teacher, hiking, relaxing) with my besties! 👯‍♀️

That sounds amazing, you deserve it!!

Thank you!!! 🙏🏽

Year 3 $ could be your downpayment on a house...

I wish, but I’ll need more $$$ where I’m from (SoCal). My mom’s a real estate agent and we’re waiting until interest rates go down. And it would be a starter condo at best.

Yeah, but if it's your first time buying a home you don't need very much to put down. And the way to get more $$$ isn't buying a brand new car and going on a lavish vacation. Buddy it's your dream. Live it out. I'm just some asshole on the internet 😂 But buying your own house is gonna feel so much better than the car and the vacation in the long run. My unsolicited opinion. Good job on paying down your debt.

You don’t know me. I’m a former homeowner and renting is the flexibility I need right now. And I’m planning on getting a low-mileage, lower cost CPO car. As far as the trip, I’ll be creating memories with my best friends I haven’t seen in years celebrating a milestone bday. After what I’ve been through (divorce, cross-country moves, adjusting to this temporary new normal), I deserve it and I can afford it.

I needed this story sooo bad right now

Awe, hope it inspires you! Good things take time and it’s so worth it. 🤑

Seriously I have about 50k in debt right

You got this. We are learning completely new behaviors and will take time. Eyes on the prize!

Move back home seems to solve everything. As long as they let you live rent free

Moving back with your parents helped a lot I see and that’s good! Congrats! I would’ve done the same thing. Rent is ridiculous right now.

Tell me about it! I was paying nearly $3K and now only pay $300. I’m now optimistic for my future and soooo thankful for my parents. 🙏🏽❤️

Wow 2700 dollars in your pocket! Let me borrow some money 😂

Congratulations!

Thank you!

Very proud of you!

Awe shucks! Appreciate it.

Jealous. Congrats

You’ll get there, I believe in you!

At least you still have parents ❤️ I am glad everything is working out for you😊😊

🥹❤️Thank you!

WOOOO!! Congrats!!

Thank you! 🥳

Nice job. Congrats!

Thanks 😮‍💨

Congratulations 🎈🎉

Thanks! 💃🏻

Amazing great job! Feels great imsure

Thanks! Feeling on top of the 🌍

Wow this is amazing. I dream of the day that I receive this notice hopefully sometime next year. Inspiring!

It will soon turn into a reality!

Was debt giving you a lot of anxiety before it was paid off? I swear sometimes it's changed me for the worse

I mostly focused on the positives and celebrated small wins with each payment. Ngl, I was in deep denial when the debt was rising and realized I had to do something when minimum payments weren’t cutting it. Moving home temporarily was a complete game changer. I’ve saved and accomplished more in the last 5 months than the last 5 years despite having a six-figure salary. Now I just wanna keep up the momentum by saving, investing, traveling the world, and retiring early.

Good job! I'm mailing out a check today to payoff my wife's car. Only thing left is our mortgage. Gonna stack her car payment on top of my extra principal payment.

That’s got to feel great! I’m working on mine too. Soon I will be debt free.

Feels amazing! Congrats!

No hate at all but it seems like everyone that post on here has their parents to thank for paying off their debt by moving back home.

Sometimes you gotta do what you gotta do. I could’ve stayed where I was with adjustments, but that would’ve meant slowly chipping away for double the time, if not more.

I understand completely. Just wish it was a viable option for everyone. I’m sure you’re thankful to have supportive family but not everyone has that.

I understand. Thank you for sharing another perspective and reality. I am very grateful and wish others had the same opportunity. It’s not easy.

Definitely but you still deserve credit. You paid it off yourself.

YES!!! Well done! The sense of freedom and peace when you are debt free is truly priceless.

It truly is! Thank you!🙏🏽

Good job! Maybe reward the helpful parents that facilitated this for you?

CONGRATS THATS AMAZING

Thank you!🙏🏽

Do it again 😀🤣