The Long, Grueling Road: Getting Out of Debt

by Rachel Baker on March 20, 2014

Getting out of debt is an incredibly hard process to undertake. There’s an amazing amount of sacrifice involved and for most people, there’s no clear cut way to do it.

Here is a great story on NBC News about how several people went about getting their families were out of debt.

Forget consolidation loans, extended credit lines or fancy debt relief agencies. A few brave Americans say the only way to escape debt is the hard, sweaty way.

But in the end, it’s so worth it.

“Debt is one of those things that can tear a marriage or a family apart,” said Cherie Lowe, 37, a married mother of two from Greenwood, Ind. “We took the approach that debt is out to get us. It wants to destroy us. It wants to take away our ability to educate our children, save for retirement, live life to the fullest.”

Since 2009, Lowe has been chronicling her family’s journey from indebtedness to financial freedom on her website, the Queen of Free. She recalls the horror she felt when she realized how much debt her family had accrued — $127,000 — “with hardly anything to show for it.” Terrified for her family’s future, she sprang into action.

For more information, check out the website:
http://www.nbcnews.com/business/personal-finance/long-grueling-road-getting-out-debt-n52961

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