Family Shares Their Journey Out Of $26,076 In Debt

This is a great story of success courtesy of Business Insider.  The story originated from a News & World Report article.

To me the main point that I take out of this interview is the communication that had to occur between the husband and wife involved in this story.  In order to set the goal and begin to work on it, the couple had to come to an agreement on what the goal actually is and how they are going to achieve it.

In this case the, the husband was much more excited to get started than his spouse which probably caused some issues early on in their debt reduction plan.  The husband was more excited to get started than the wife which can cause some issues.  This is why it is always important to be on the same page with your spouse when putting together any investment or financial plan.

Read the full interview here, basis of the interview below.

• Back in 2008, Brad Chaffee and his wife were $26,076.75 in debt when they decided to pay it off and forsake all future loans.
• They're now living debt-free with their three children in Charlottesville, Va., and hope to put 100 percent down on a house.