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The Truth About Paying Off Debt

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This is a Guest Post from Cherie at Queen of Free

2010 was a difficult year. I can remember feeling overwhelmed, frustrated, annoyed with my husband, and simply stuck. In April of 2008, my husband Brian and I began the journey of paying off every red cent of our consumer debt – $127,482.30 to be exact. Those early days of our journey excited us. Out to save every penny we could and then put those pennies toward our massive debt, we knew it wouldn’t be an easy job. The first year meant longer hours at work but with a deep resolve to actually achieve our goals. Dedication, discipline, and even joy sprinkled our footsteps as we pursued the calling laid deep on our hearts.

All progressed well. Our efforts yielded success. By the summer of 2009, medical debts fell by the wayside. Our car payments vanished. We kicked a $7k loan to the curb. We’d been able to knock out close to $30k in debt in just over a year and a half. We marveled at the goodness of God who had provided a second and then a third job. Our budget laid bare bones with no extras – no cable, no smartphones, no vacations. We gave up giving gifts to each other for holidays and birthdays, scraping together what we could to be able to give gifts to our girls. We rarely dined out. We made our own laundry detergent, pizza dough, household cleaners, and more. And then it happened.

Debt slaying fatigue set in.

Being on the other side of debt is great fun. We love to share our story. We look back on the four years it took for us to annihilate what we came to call the Debt Dragon and marvel that the months went by so quickly. But being in the midst of that journey didn’t seem so sweet or fun. Sometimes the days felt like weeks and the months felt like years. The real truth about paying off debt is that it’s not all roses and rainbows, sunshine and sugar. But that doesn’t mean you can’t or shouldn’t do it.


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Even with the challenges that came our way, knowing what I know now, I’d still repeat every single day of journey again, including those dark days in 2010. Here’s why.

Ending all procrastination is key to paying off debt.

When Tomorrow Never Comes

Those days between 2008 – 2012 weren’t our first attempts at knocking out our debt. We had tried (and failed) at least once before. After our initial demoralizing defeat, we quit. It wasn’t that we wanted to have so much debt. Who does? It just seemed like there was never a good time to begin scaling back or tightening our belts. A birthday here, replacing an appliance there – we constantly decided “Right now, really isn’t a good time for us to try that again.”

However, there is no good time to begin paying off debt. There is only today.

There will always be an unexpected expense, a celebration, a reason why you “can’t” pay off debt right now. We chose April 2, 2008 as our fresh start date, a season when we would redouble our efforts and get serious about financial wellness. We knew trouble would come our way throughout the journey. No epic quest is without test. But we began anyway.

If you’ve long been putting off your personal pursuit to pay off debt, you need to begin now – even in the mess and the uncertainty. Tomorrow never comes and a better time doesn’t exist. Start now.

Understand that difficult days build character when paying off debt.

Difficult Days Build Character

Can I be honest? I used to pray that God would send the exact amount we needed to pay off all of our debt back in the days of 2010. We had already been faithful and shown we were serious. What would it hurt if some friend or family member or even a complete stranger took notice of our determination and sent an anonymous check in the mail for the exact amount we owed. How cool would it be to tell a story like that? One where God literally showed up and met our every need?

What I didn’t realize in the midst of the struggle was how God was showing up and meeting each need along the way. We never went hungry. We didn’t lose our home. We may not have had date night or a budget for anything extra, but we did have each other. I almost missed a miracle in our midst.

The difficult days of paying off debt also taught me that I never wanted to return to borrowing again. With each sacrifice and each penny pinching moment, I began to own that the temporary fun and relief of buying whatever I wanted in the moment with credit was not worth the effort it took to pay it off. So as the days turned into weeks, the weeks into months, and the months into years, resolve stiffened. We would be better at managing our money so that we would not find ourselves in the place to need to borrow again. And we would be better at managing our money so that we could actually enjoy it, too.

Like a child who touches a hot stove learning that it’s not a good idea, the process of paying off debt helped us feel the pain of our mistakes. Without pain, we return to the same poor choices and bad habits again and again. Feeling the sacrifice is actually part of the cure.

Remember how important your family is when stressing about debt.

Learning What (and Who) Really Matters

The time paying off debt requires winnowed away my heart’s desires. The experience resulted in a great gift beyond the actual financial freedom. As we spent less and less, I became more adept at defining what I truly loved. With very little extra cash to spare, I learned that if we were going to live on less than we made, we needed to 100% love every single item we bought.

One day, I sat down and defined what I really loved. My list included both the big pieces of my heart and life things like my faith, my family, and my friends and smaller joys that could be purchased, too. I wrote down: a good cup of coffee, a glass of iced tea, a heart pounding workout, playing outside with my girls, my bicycle, music, movies. You may have guessed that as I began refining what I loved, I discovered that the majority of the items on my list weren’t that expensive. I could make them at home or figure out a way to experience them for very little money spent.

As a side note, my husband Brian and I found our marriage strengthened through the trial of paying off debt. We learned how to more effectively communicate about money which bled over into every other aspect of our relationship. We valued each other with a deeper, sweeter love. We began to really enjoy the time we spent together and appreciate what each of us was contributing to our household and financial future.

Each time I speak to a congregation, conference, or group I repeat the same two sentences. “Paying off debt isn’t complex. It’s just not easy.” That is to say, the actual process isn’t complicated. It requires you to spend less money and make more money, using the difference to pay off the debt. While there are specific strategies we employed (you can read more about our story in my book Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Discovered an Inspired Happily Ever After), you don’t need an economics degree or difficult method.

If it were easy to pay off debt, everyone would be debt free. But you’re not everyone and you can do it. The fact that you’ve read this far in the post demonstrates that alone. Deep down, you know there are no easy answers. At the same time, you also know the sacrifices will be worth it.

Understand that being debt free wont totally get rid of all your issues.

On March 28, 2012 we sat at our kitchen table and paid our final student loan payment, ever. Life hasn’t been perfect since then. This spring we had to replace our stove, our washer, our dryer, our lawn mower, and most of the pipes under our house within a three month window (WHEW). Financial challenges like those would have sent us into a tailspin if we weren’t debt free. Every single lesson, while learned the hard way, enabled us to be more solvent, more generous, and to live life to its fullest. Yes, the journey of paying off debt is difficult. But that difficulty turns you into a person of discipline and resolve, capable and strong. You got this, debt slayers. Go change your financial future.


Cherie Lowe, author of Slaying the Debt Dragon.Cherie Lowe is an author, speaker and hope bringer. Her book Slaying the Debt Dragon details her family’s quest to eliminate over $127K in debt in just under four years. As her alter ego the Queen of Free, Cherie provides offbeat money saving tips and debt slaying inspiration on a daily basis.



The Truth About Paying Off Debt


  1. Rachel
    June 30 at 09:50AM

    Great, encouraging post! Thanks for sharing.

  2. Rose
    June 30 at 02:42PM

    I LOVE your book [Slaying The Debt Dragon]!! I have read it a NUMBER of times since I got it!! One of my issues is getting my husband on the same page : ( Praying for “someday” soon!! He did stumble onto Dave Ramseys radio shows on utube and watched a couple : ) Maybe he will get inspired ? : )

    • July 21 at 09:21PM

      Thank you! Praying you guys can come together for a common goal. And spoiler alert, my husband and I are writing a book right now about money, sex, and marriage due out September 2018. Keep your eyes peeled!

  3. Julie S.
    June 30 at 03:54PM

    I sold a rental property last month and the proceeds are more than enough to pay for my daughter’s college education!
    Everything else is paid for and I am thrilled to report that I am debt-free and looking forward to living beneath my means in order to build up cash for retirement.
    I’m a single Mom, and there have been times when we didn’t have money for groceries, but I’m amazed to think of God’s grace and how He always provided.

    • July 21 at 09:23PM

      You are a rock star! Wildly proud of you.

  4. Jen
    June 30 at 04:22PM

    So, just curious. This debt that you paid for, does that include paying off a house? Sometimes people say they pay off all their debt, but still have a house payment. Some people include it. It’s hard to tell what people mean by “paying off all my debt.”

    • July 21 at 09:25PM

      Hi Jen! I’m talking about our consumer debt. We do still have a mortgage that we’re faithfully chopping away at. It’s much, much less than what we paid off in combined student loan, credit card, car, medical, and miscellaneous debt though. Even if we take it to term, we’ll be completely debt free including our house in less than 10 years. I doubt we’ll take it to term though and we’re already hatching a plan to knock it out in half that time.

  5. July 1 at 08:45AM

    Oh my goodness! What an incredible article and so on point for what we needed right now. This really is a very hard journey, but truthfully,I know we are learning so much through it all! Thank you!

  6. July 3 at 11:50AM

    Paying off debt takes a lot of sacrifice! That’s all there really is to it.


  7. I have debt fatigue so bad! I have set up little rewards for myself when I hit big milestones. It has helped me to stay focused.

    • July 21 at 09:27PM

      YES! We set micro goals and celebrated the milestones. Sometimes it’s the only thing to keep your head up an making the difficult decisions paying off debt requires.

  8. CJ
    August 4 at 12:33PM

    Any help for those who have struggled to pay off the debt on a low income, including the mortgage but now need a new roof, other home repairs, a more reliable car and are middle age and without much in savings? Nearly lost our homeowners because the insurance said we needed a new roof. Currently paying a nearly double amount. We’ve cut many expenses and there isn’t much room left to cut. Looking at loans again.

  9. August 7 at 11:44AM

    Really inspiring story I myself also want to start a journey like yours but it’s never a good time to try and clear out those credit cards. Whenever I decrease the amount of debt there is always something urgent which I need to buy using credit… well after reading your story I think I need to try harder 🙂

  10. Jean
    September 15 at 09:27AM

    We got behind when hubby was off on workers compensation. Years went by and I learned how to scrape the bottom. Internet wasn’t around so I didn’t have access to nifty sites on ways to save. I am changed since, and find it hard to spend. Hubby though, likes to buy now that he is back to work we need a roof and a car now but I have been buying used items since our finances had to change I’ve had 2 new fridges and one new stove since the nineties. Always bought second hand ( had to). Question is should I still keep buying second hand appliances and vehicles , furniture ,

  11. November 19 at 03:46PM

    Its so hard to resist treating yourself come payday! the best advice I ever received was that there is only 2 things worth getting in debt for, property and cars, unfortunately I didn’t follow that advice. We live and learn…

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