Hello everyone. Time for another Debt Free Friday!! Today we have with us the author of Debt Free Hispanic. Be sure to check out Fabian’s debt free call to the Dave Ramsey Show. It’s debt free calls like this that kept us motivated throughout our journey. As I’ve mentioned before those calls are why I wanted to start this series. Actually, it’s not the first time I tried putting something like this together. The first time I was a little too optimistic with what probably amounted to 10 or so readers. 😉 It was only my 5th post, but I sure was pumped up!!
Fabian has me wondering why I have not called the Dave Ramsey Show yet. You’d think I’d be all over that right? I may surprise you here soon with a real debt free scream from Enemy of Debt and the Fam! Stay tuned!
Oh yeah, today you will not see much of me, it’s my wife’s birthday! 😀
Fabian’s Debt Free News! ENJOY!
I have also put together a page, where YOU can fill out the Debt Free Questionnaire. I’d love to share your story.
The Enemy of Debt Questionnaire – Debt Free Hispanic
How much debt did you have and how long did it take you to pay it off?
The highest debt I have ever had was $21,000. My wife brought in about $1,000 of that and the rest were from my school loans and business debt.
How does becoming debt free actually feel? Does it feel better than you imagined it would?
Being debt free feels liberating. I can breathe a lot better. The feeling is overwhelming sometimes, just knowing that every check I receive goes into my bank account and stays there until I choose to spend it.
What were some of the struggles that you had to deal with along the way? Was there ever a time where you almost gave up?
The struggles came when I wanted to pay off my last $5,000 because that was about the time that I was wanting to save up to buy a ring so I could propose to my girlfriend, who is now my wife.
What would you consider to be the most important key to becoming debt free? What helped you the most?
The key to getting out of debt for me was traction. When I sold a bunch of Houston Astros jerseys on eBay that I was collecting. That money helped me to pay off some smaller debts so that I could have those small victories. What kept me going was that I was constantly telling my girlfriend how much I was paying off month after month.
It seems a lot of people have bought into the idea that debt is essential in order to prosper, what do you have to say to those people?
I’ve never been wealthier in my life than I am now and it’s all due to cutting up credit cards and paying for everything I own with cash. Credit does not lead to prosperity, it leads to a financial crisis.
What was the biggest sacrifice you would say you made in order to become debt free? What about you changed the most?
During 2007, most of my income went to paying off debt. It was hard to see all that money go straight to banks. It’s always easier to get into debt than it is to get out of it.
Did your friends and family give you a hard time about your new mission to eliminate the debt from your life? If so how did you deal with it? Do you think you inspired others by your journey?
Yes, people didn’t understand why I would want to drive a paid for vehicle. They didn’t understand why I had to bring my lunch every day just so that I could pay off more debt. But that’s okay because today I’m debt free and I continue to build wealth since I get to keep my income.
What is next for you? What financial goals do you plan to accomplish?
Next I want to speak to different people groups of all ages about staying out of debt and how their lives could change if they break the habits of using a credit card to pay for their purchases. I plan to continue building my income by adding multiple streams of income. I will continue blogging as Debt Free Hispanic so I can reach as many people as I can with the message of living debt free. I want to be able to make enough money to stay home with my wife and one day raise children. I want to be able to give away money to students so that they can attend college but I want them to learn about staying away from school loans.
Debt Free News From A Debt Free Reader Series
Debt Free News: The Kick Off – yours truly @enemyofdebt
Debt Free News From A Debt Free Reader #1 – Kelsalynn @KelsaLynnFitLog
Debt Free News From A Debt Free Reader #2 – Nick @Nickfro
Debt Free News From A Debt Free Reader #3 – Paul @fiscalgeek
Debt Free News From A Debt Free Reader #4 – Peter @MoneyMatters
Debt Free News From A Debt Free Reader #5 – J Money @BudgetsAreSexy
Debt Free News From A Debt Free Reader #6 – Dustin @EngagedMarriage
Debt Free News From A Debt Free Reader #7 – Fabian @debtfree
More to come…