How They Got In Debt… Again
(warning: painfully honest) I’m sure we all have some sort of embarrassing debt story (totally normal, in my opinion – and NOTHING to judge!) What I LOVE is when the embarrassing debt story follows with another story of getting OUT of debt and details of a debt free journey. Today, I want to share with you another version of this story… a young, successful couple were in debt, followed Dave Ramsey’s advice and got OUT of debt… only to fall right back into debt again (and how they handled their second round back in debt).
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The story below is Cullen and Katie’s debt story – as they call their “embarrassing debt story” – that I think shares a BIG lesson for us all.
Be warned tho – it’s painfully honest – but is sure to help a LOT of people with their own plans to finally get OUT of debt.
Getting Into Debt – Again
I just love the daily family vloggers Katie and Cullen. This amazing couple makes a daily video sharing their life with their 2 kids and they share it ALL – the good, the bad, the amazing…and the heartbreaking.
Recently, Katie and Cullen shared a video on Youtube called “Our Debt Disaster – How We Got Here” in which they shared the story of how, in the early years of their marriage, they found themselves in debt and decided to follow Dave Ramsey’s Financial Peace Total Money Makeover plan for getting out of debt.
They went all-in with Dave Ramsey’s cash envelope system and worked their way OUT of debt.
And yes, Dave Ramsey’s system for getting out of debt DOES work – highly recommended!
Then, the years passed by, Katie and Cullen found big success as YouTube Vloggers…
they stopped doing the cash envelope system…
they started enjoying their new luxury lifestyle and spending too much money…
and recently realized just HOW in debt they are now.
In other words, in debt AGAIN.
Now, I don’t share this to embarrass them because I genuinely think the world of them and how the Cullen and Katie vlogs have opened up great conversations about some serious topics.
I also have great admiration for just how MUCH of their personal daily lives they share with their subscribers and viewers – everything from fertility issues, to potty training, to gaining control of clutter in their home, to marriage issues and various health issues… and now, what must be a really tough thing to share so publicly… being in debt again.
Instead of me explaining, let’s hear Cullen and Katie explain their debt journey in this Part 1 video below.
LOTS of useful information if YOU are trying to get out of debt (and you’ll also see – you are NOT alone – and you CAN get OUT of debt)
The biggest lesson of all (in my opinion) –
Simply having MORE money is NOT the solution to debt issues.
The Debt Disaster Story
Here’s Part 2 of Katie and Cullen’s Debt Journey. In this video they talk more about where they are NOW with their debt situation:
How Much DID They Spend?
And here’s a follow up video that shares the actual numbers and calculations of Cullen and Katie’s actual debt.
Yes, some of the amounts owed and paid each month may very well be jaw-dropping for many that hear them – it’s a LOT of money going out…
What Happened Next?
Everyone gets into some sort of debt in their lifetime – and personally, I don’t care about that – it’s really not my business, ya know?
What inspires me is what people DO about their debt situation.
I love success stories – super inspirational.
So… if you’re curious – here’s how their debt situation is NOW (ie, 18 months later)
And you might be shocked at all the things they DID to drastically improve their financial situation.
Would YOU go this far to get out of debt?
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