A Proverbs Wife

Debt Free Friday: Monique’s Story Part 2

This  is part two of  Monique’s debt free  journey. She shared part one of her story yesterday and you can read it here.

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.

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11 thoughts on “Debt Free Friday: Monique’s Story Part 2

  1. Jacqui Baptiste says:

    Me again. Paid of another small debt and another credit card used for homeschooling purchases. Now, time to tackle the biggest one. I plan on having this paid off in 10-12 weeks. Praise God from whom all blessing flow!!! Even with paying off these debts, we are still saving money, eating good, and living well. When I made up my mind to be debt free this year, I was excited. Then the temptations started. Some I am gave into and some I did not. There has been ups and downs, but God has been faithfully.


    The Proverbs Wife Reply:

    @Jacqui Baptiste,

    Congratulations on paying off another credit card Jacqui. That’s wonderful!! It’s so good to hear that you are on track and reaching your debt freedom goals. Check back in and let us know when you’ve made your final payment on your next credit card debt. I am looking forward to celebrating your debt freedom milestone in a few weeks. 🙂


  2. Jacqui Baptiste says:

    it’s me again. I just paid off a credit card. I have one more to go, but before that I have another small debt to take care of. Praise God!!


  3. Jacqui Baptiste says:

    Thanks Ladies,

    I will keep you posted.


  4. Jacqui Baptiste says:

    Thank for this post. I have a plan to be out of my credit card debt in 2011. I will have an extra 100.00 every week from my paycheck and will be using it to pay off the credit cards. My question is, what to do next? I already have 1,000.00 in saving for emergencies. I am not familiar with Dave Ramsey but once the credit cards are paid off what come next? The vehicles are paid off also.


    Monique Reply:

    @Jacqui Baptiste,

    Jacqui- Good for you!!!! Keep it up! The Dave Ramsey path to financial freedom is referred to as baby steps. So the baby step after getting out of debt is 3-6 months of expenses in the bank. This would help in case of any emergency or disability, etc. Here is a link to the individual steps http://www.daveramsey.com/new/baby-steps/
    Ultimately according to his plan you will be in a spot to be able to live debt free, and live WELL, and to be able to give to others.

    Surround yourself with people who will encourage you too! That has been huge for us!
    You guys are encouraging me 🙂


    The Proverbs Wife Reply:

    @Jacqui Baptiste,

    Hey Jacqui,

    We paid off all of our consumer debt in 2010 and have begun funding our 3-6 month emergency fund this year. We’d love to hear more about your progress as well in the months to come.


  5. Monique W says:

    I also need to say, I had misunderstood something my husband told me once, and wrote it here incorrectly.
    “Beforehand he met with some of his employees so they could pray about it.”
    This was incorrect.

    HOWEVER, I am seriously grateful for such an amazing company my husband works for. They are the proof to me that if you ask God to be a part of it, it makes all the difference in the world.


  6. Monique W says:

    Mikla- We started with that and a WHOLE LOT of other things too!!! When we started the course we found a place with cheaper rent (we didn’t have a mortgage, and that has been big for us)and I also became the super deal finder. As I was staying at home I took the time to find the deal on anything we needed before purchasing, and bought a lot of things second hand off of craigslist and at consignment sales. I became a crazy couponer (not an extreme couponer like the current TLC show) and knocked our grocery budget way way down. I found healthy and inexpensive recipes. I plan our groceries out a week or two at a time. We cut out any unnecessary spending. We tracked every single purchase. We carpooled when possible, and only took one car instead of two as much as possible, even if it was a little inconvenient. We started making for ourselves (we are handy though) whatever we could. I am trying to think of anything else, and will let you know. Good for you for making a step towards being debt free!!! Every time we pay off something we get excited about it and congratulate yourself! It’s a big deal. Also, pray, pray, pray!!!!!!


  7. Here is my question! We have the 1000 in saving. But we have 3 student loans and a car payment and a little on a credit card aside from mortgage and utility bills. So what did you guys cut to be able to pay extra on the bigger things?


    Monique Reply:

    Mikala- I just realized I commented a reply to you without hitting “reply”, your answers are below.


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