Almost $80,000 In Debt Eliminated

Like many others before us, we thought 101 Financial was too good to be true, and like many others before us, we were happily proven wrong.

Along with many other college students, both my husband and I couldn’t afford college outright and had to take out loans to afford our education. When all was said and done, I incurred approximately $110,000 in student loan debt to get my doctorate. I was overwhelmed with the reality that I owed a small mortgage back to the federal government at 6.8% interest. I was automatically enrolled in the extended-repayment plan, relegating me to pay almost $800 per month for the next 25 years.

At first, I had to defer my loans, because finding a job upon returning home from college took quite a while. Eventually, I was blessed to find a great job in my chosen field which paid a very comfortable income, but we still couldn’t pay more than the minimum amount for my student loans. We didn’t want to be stuck with this debt for 25 years, but the reality was that we couldn’t get married, save for a down payment on a house, or just save money for an emergency fund and pay more than the minimum payment.

Fast-forward a few years… we had the beautiful wedding we wanted, bought a place to call our very own, and had money tucked away in a rainy-day fund, but we were still saddled with debt. We were juggling my school loans, his school loans, the car loan for the second car we desperately needed once we moved out to the Leeward Coast, and of course the mortgage for our new home.

We were able to make all the minimum payments on all of our loans and still tuck away some money in savings every month. But after being married a couple years, we naturally started talking about having children. After analyzing our finances, we concluded that we couldn’t afford to have kids unless we stopped saving every month. We both came from single-parent homes and watched our mothers struggle financially with little to no savings to fall back on. We absolutely refused to put ourselves at risk of repeating their mistakes.

As a completely unexpected turn of events, we were invited to a 101 Financial Workshop by my husband?s coworker. She had already shared some of the financial success she and her Instructors were having with The 101 Financial System before inviting us, and while we were apprehensive, we figured if we didn’t need to commit to or pay anything beforehand, all we had to lose was a few hours of our time.

We listened intently to everything Alan had to say, and our skepticism started to melt away. What we found to be most reassuring was that it was no “quick-fix” scheme. He preached having sound financial habits and discipline as a foundation. And using his system for rapid debt elimination to build on that foundation to achieve the financial freedom he?s helped so many others attain.

That is exactly the path that we are on now. We joined The 101 Financial System almost seven months ago, and since then we’ve completely eliminated all of my husband’s student loans and our car loan, and we’ve considerably reduced the balance on my student loan debt… totaling almost $80,000 in debt eliminated.

We are conquering our debt by using Alan’s 101 Financial System to tackle our principal and minimize the interest we are paying on our loans. We finally feel ahead of things. We are projected to close out my school loan in approximately 2 years instead of 22 years and we actually feel financially comfortable to start our family.

Thank you so much 101 Financial for all you have blessed us with. We feel so empowered by the financial freedom and peace of mind you promised us from day one.

– Kevin and Alissa Makaipo

 

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