“An investment in knowledge always pays the best interest.” – Benjamin Franklin
When Rodney and I first opened our Green Box, we had more than $90,000 in consumer debt, taxes owed to the IRS, and our mortgage of $183,000. I’m a realtor and we had been carrying the consumer debt for over 6 years since the recession. Every one of the credit cards were in default due to my loss of income. $30,000 of the consumer debt was owed to my Dad’s credit cards since he had assisted us in getting back into a house after we had lost both of our homes. We were on the brink of receiving judgements to garnish our wages from the business credit cards I had defaulted on. We truly couldn’t see light at the end of the tunnel, but had hope because of our Life business.
Together we committed to the Financial Fitness Program. We were already playing Offense and had about $2,500 worth of residual income that we had earned from our business after expenses. Playing Defense was new to us, but we committed to it and began paying down our debts. We filled the leaks in our buckets with sound financial principles and found ways to lower payments on our utilities and other bills. We began saving and tithing 10%, then I learned I was pregnant. We were absolutely delighted, of course, and my pregnancy was very difficult and resulted in my being almost completely house-bound, causing a huge decline in our income.
All our focus on our finances and budget made it easy to adjust. Then Rodney was laid off from work. We were so grateful we had played Offense. Our residual income helped to pay our bills. We applied for food stamps and received $425 for our family of five. We were so grateful for our financial education. We made it work and we continued to save and tithe. When we were hit with medical bills, we had our emergency savings to fall back on. We paid over $40,000 worth of debt off in only 6 months! Now that Rodney and I are both working again and we are focused on the “Green Box”, we currently have just over $20,000 left to pay in consumer and IRS debt (including what is owed to my dad). Both of our vehicles are free and clear. We have a clear plan to have it all paid this year and are excited to begin eliminating our mortgage debt.
Three weeks ago, I began reading Financial Fitness again and doing the workbook. Just last week, we created $1,500 following advice in Chapter 4. We began using the tools again and created a budget and reduced our auto insurance by $40 per month, all because I chose to help others focus on creating their own “Green Box” testimonials.
Congratulations Rodney and Brenda Kilhoffer on all of your progress towards escaping the Financial Matrix. Your story is an inspiration to many!
Do you have a Financial Fitness testimony that we can share with the world? We’d love to hear about it below!
Financial Fitness: Get out of Debt and Stay out of Debt
*The people in this article are not actors nor have they been paid to participate, but are real people that have used the products and services and have signed a Testimonial Verification attesting to the validity of the numbers claimed.