How were you able to stay on track in spite of those challenges?
If you know of the baby step plan from Dave Ramsey step one is $1,000 in the bank. This becomes your emergency fund. The next step is to pay off all of your debt. We were on step 2. However we had had an emergency in November taking our emergency fund down to about $600. All in all, it was a pretty scary and humbling time for us.
I had to go down to the DFACS department and apply for Medicaid and food stamps. He had to go file for unemployment. We weren’t even sure if he would receive the unemployment because of the reason stated in his termination letter. Because we had spent the time since taking our Dave Ramsey course in 2007 paying down our debt we were down to a few bills.
My husband is very handy and was also able to work a few small handyman jobs on the side. We were able to never miss rent or any other bill during that time of unemployment. In March he was set to receive an offer from a company that he was very excited to go work for, but it fell through at the very last minute because they lost a contract.
What has been your biggest accomplishment so far?
Our daughter was born in April. He found another job that was very promising and it didn’t end up panning out either. In the beginning of May he was talking to a friend of ours about the company he works for. That friend went to the owner of the company and they started talking about creating a position for my husband. He started on June 1st after almost 6 months of unemployment. If I could rave about this new company, I would. They absolutely took a gamble on my husband. He had never worked in their field before. They weren’t even sure exactly what he would be doing for the company.
Since beginning his job his responsibilities have changed a number of times, but he loves every single minute of it. The owner is a real Christian who takes the time to pray over his business decisions all of the time. I was really impressed when my husband came home and told me the owner was going to meet with a very large company. Beforehand he met with some of his employees so they could pray about it.
His prayer was that if God wanted them to have the contract they would have favor, and that if God didn’t want them to have this contract the door would close. So many people just ask that God give them something, not nearly as often do you see people ask God to pass them over for something that could make a lot of money if it wasn’t his will.
In 2010 we were able to pay off a credit card, a large medical bill, a good portion of our truck (we only have one car payment) and keep up to date with all of our bills. While we weren’t able to get 100% out of debt like we had dreamed, we were able to get very close. We will be paying off our truck in the very beginning of the year and all that will be left will be a few student loans, which should be resolved by the end of 2011.
How are you using your story to help others?
While we have worked very hard to get out of debt for our own stress and such, we have done it also because our heart is to be doing missions work. We really felt convicted at the time of the financial freedom class that we shouldn’t go about raising funds until we could prove we personally could be responsible with the money given to us by being as responsible as we could with the money that we already have… it is all God’s anyways.
We have most of our paperwork ready to go and we will soon be starting our nonprofit. Personally our desire is to open an orphanage in the country of Uruguay. There are tens of thousands of children living on the streets there, and very few ministries to meet their needs. These are “our” children. We pray for them and love them even though we haven’t met them yet. They are our constant encouragement to get out of debt so we can get there and love them, and show them Jesus.
What Monique wants us to learn from her story:
The thing that is most important to me is that you let people know that this wasn’t something we managed on our own, God gets all the glory for it. We would never be here if it wasn’t for Him.
Okay Lovlies…Do you have a debt freedom story to share? We’d love to feature it here on the site. To learn more go here.