“Discipline is better than regret.” – Kristen Schill
A countless number of people experience the stress of finances on a daily basis as a result of being trapped in the Financial Matrix. Fortunately, for the people who get their hands on the Financial Fitness Program, there is hope and freedom available. Check out Rob and Gail Daley’s story:
We were married in 1993 and like many people, we both brought debt with us from previous marriages. Gail had $50,000 worth of debt and while trying to blend our families together (each with 2 children), we found ourselves spending money on family activities- such as camping and buying a bigger boat (with all the toys). We bought into the ‘leasing vehicles program’ with a car and a pickup truck along with extra payments because we continued to go over our limit on mileage. We financed motorcycles, we took out a second mortgage to buy a new pickup truck, and in 2000 we financed 38 acres of land with a home equity loan. (We didn’t want a house to be built across the street from us).
Gail was an hourly employee in a print shop and Rob was also an hourly employee at a competing print shop. On May 24th, 2002, the shop that Rob worked for filed bankruptcy, and in the same year Gail was given a salary that cut her wages in half. Rob took the summer off to spend time with the kids because he was going through a custody battle. Rob’s thinking was to file bankruptcy or sell the land. In September of 2002, he took a job one hour away from where they lived for less than $10.00 an hour.
In May of 2004, Rob was contacted by an ex co-worker to share a leadership business that provided some of the principles taught in the Financial Fitness Program. They studied some of the materials but didn’t really apply much. They continued to spend more than we made. They bought 2 snowmobiles with our home equity loan, a camper, a Cadillac, and they financed everything because that’s just what they were used to.
At one point, Rob had the opportunity to buy a house in North Dakota. However, he didn’t seek mentorship because in his mind he could justify using a stretch and secure strategy. Borrowing from Rob’s 401K was how they were able to buy the house, but it added extra expenses monthly.
At one point, they consolidated all of their credit cards using the same home equity loan, which meant they were going to pay additional interest for the length of the mortgage.
“We went through a number of river bend changes that eventually brought us to the Financial Fitness Program. It was at this time that we started to get serious about getting debt-free.”
When they got our hands on the Financial Fitness Program, they began to recognize that most families have a spender and a saver, and Rob wasn’t the saver. Three times they tracked their spending only to find out where all the money was going.
“By applying the roll down of debts, our credit cards were being paid off one by one and we finally saw the light at the end of the tunnel. In December of 2016, the last of our debt, including our mortgage, was completely paid off!”
When they began to get serious about budgeting, used used the SCRIP program through their church, which meant buying gift cards for what they needed to purchase and when the cards were gone, it meant no more money was spent.
“In about 3 years we wiped out around $150,000 of debt. We didn’t sell anything, we just got really serious about where our money was going. We applied the first seven principles of the Financial Fitness Program and it was amazing what started to happen.”
Through their financial education, they learned the term of a second mortgage is the same as your original mortgage, and also the term of a home equity loan is the same as your mortgage.
“Looking back, it’s almost funny to know how financially illiterate we were, making payments on a truck for 16 years.”
They now look forward to the time they can spend with their families without the stress of having to live paycheck to paycheck.
Financial Fitness has been a blessing to our family and has strengthened our faith in so many ways. God delivered a chocolate lab into our house that saved our lives from carbon monoxide. We know we are here for a purpose and our job is not done. There are so many people out there that need the Financial Fitness Program and our goal is to share it with everyone!
Rob and Gail have modeled what it takes to change their financial future because of what they have learned and applied from the Financial Fitness Program. Congratulations!
If you were inspired by this story, please be sure to leave a comment for them below. Also, don’t forget to tell us how the Financial Fitness Program is making a difference in your life!