Name: John and Bethany Edwards
Age: 33 and 31
We were so unsettled about our finances in 2008, with $64,000 in consumer debt looming over us, that we decided to get rid of our credit cards entirely. We paid off our two credit cards, along with two student and car loans, in March 2010, and still avoid plastic.
Since making this change, we have also built a $13,000 emergency fund and are working toward paying off our $255,000 mortgage.
I used to think about what new big purchase I'd pay off with each paycheck. But now, because I only spend money that I have, I don't have to think about paying off the purchase at all. I just enjoy the item or the trip. -- John Edwards
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