Is it Really Possible to Pay off Big Debt with Little Income?

Do you have big debt and little income, leaving you to wonder how you can ever get ahead? Tasha’s written for us before (here, here, and here). (Hey! Did you set your goals yet?!) Now here she is again with big wisdom and encouragement. (Spoiler: The debt? It IS possible to pay it off!)

Is it Really Possible to Pay off Big Debt with Little Income?

By Tasha Hackett

Doubt is seeping in. I browsed other personal finance blogs and thought, “Why would anyone read what I have to say when there are plenty of others saying it?” But the more I read, the more I found I do have something to say.

I have something to say to the mom who gives and gives and gives and then when she says, “Not right now,” her son complains. And it totally stinks because what you really heard him say was, “You’re not enough, Mom!” and it’s totally true. You’re not enough!! (But Jesus is enough. Laura and I can tell you all about that.)

You’ve been awake since 4:45 a.m. with the baby. You fed all of them, provided clean clothes for all of them, played (a little) with them, texted your sisters who live hours and hours away, nursed the baby a hundred gazillian times, and did all the things. 

I’m writing for you. 

While wiping the children’s toothpaste out of the sink at 10 p.m. the baby starts to cry again and you can’t even tag out because the husband is still out working in the garage trying to finish the project that has to be done before the weather happens.

I’m writing for you. 

When you went to the grocery store today you only had $95 left in your checking account and payday isn’t for another 12 days and milk is $3.75 a gallon and the prices are so overwhelming and you walk out of the store with a carton of eggs and a head of cabbage because you can’t handle it.

I’m writing for you. 

You have a glass jar in the closet that you’ve been putting extra dollars in for a vacation or a date or something. You counted and there is only $50 in the whole jar, and you wanted to cry, but you didn’t because you can do hard things and you put all the cash back into the jar and shoved it back in the closet. 

I’m writing for you. 

You worked eight days in a row at three different part-time jobs and this weekend you watched two full seasons of that show on Netflix and you don’t even know what investing means, you’re just happy you have a car that runs and a little extra for gas. 

I’m writing for you. 

To the me 13 years ago that wishes she knew what I know now. I wish I could reach back there and give her and hug and say, “You’re doing a wonderful job! And here are some tips to help you enjoy life more.” 

So what am I writing? 

I’m writing you some hope. Some humor. Some gut-wrenching truth. Some down-to-earth practical tips that just might save your sanity. And some thank-goodness-for-Jesus reminders. All wrapped around the theme of Personal Finance. 

To introduce my team: There’s me, Tasha, and the husband, Ben. We have four kids currently aged 7, 5, 3, and 8 months. And a pet rat, Tippy. Because aint-nobody-got-time-for-that – he is in the sole care of First Born. We live in a tiny Midwest town, 50 miles from malls and bulk food stores. And we are debt-free except for the house. Because of that last sentence, we are planning our very first take-the-whole-family-in-an-airplane not-to-see-family but-to-spend a-bunch-of-money-having-fun trip for this summer.

Hi, My name is Tasha. And I’m addicted to paying off debt. On a teacher’s salary of less than $50,000 a year, Ben and I paid off $40,000 in 24 months while cash flowing part of his MA, investing for retirement, and still enjoying birthdays, holidays, and traveling to see family who live hours and hours away. 

Within the series I am about to write and share, you will find how we keep plugging away at it, what we eat, how we play, and how we keep finding joy through it all. I have more to share in the coming weeks!

Drop a note here with questions, suggestions, or comments. 

Yours Truly, 

Tasha

Note from Laura: In the coming weeks, I’ll be sharing several posts from Tasha letting us know how she and Ben have knocked out so much debt so quickly! You are going to love reading these!! :) :)