Category: 2000 personal loan no credit check

This couple used the debt snowball method to pay off $130,000 in four years

This couple used the debt snowball method to pay off $130,000 in four years

Married couple Brian and Lindsey Baldwin used to be among the 44 million Americans struggling with student loan debt. Now, the Massachusetts couple is debt-free. The Baldwins, both 37 years old, say they tackled $130,000 worth of student loans in four years by combining extreme minimalism with Dave Ramsey’s “debt snowball” method.

The Baldwins went to graduate school together in New Orleans, and graduated in 2010 with eight different student loans between them. The couple say they spent the next two years in deep denial about how much money they owed.

“We were living off loans,” Lindsey Baldwin tells NBC News BETTER. “We were paying for school with loans, we were paying for rent with loans, and we were just living the high life, I would say, because it hadn’t sunk in, the reality of it all.”

Instead of focusing on paying back their loans, they went on vacation in South America and lived in Hawaii for two years.

Brian says, “It didn’t feel like we were really in that bad of shape, and we didn’t think about what we were doing. (more…)