My Life After Paying Off $53,392 in Debt in 3 Years

Mr. Enchumbao

I work for a large investment management company helping people save for traditional retirement. During my spare time I help others save for financial independence and early retirement by writing for Enchumbao. My journey to FI began in 2012. I was in a lot of debt back then but I turned things around and became debt free a few years later. My wife and I reached financial independence in 2017 and are preparing to retire by 2020.

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6 Responses

  1. LM says:

    Preach it brother, this is how it happens — debt by a thousand cuts. So happy for you to make such an amazing turnaround. You are an inspiration to others!

    • MrEnchumbao says:

      Thank you bro. It’s been an unbelievable journey. This is something that I couldn’t even express to Mrs. Enchumbao as I was going through it and here I am, telling the world with the hopes to inspire others as well. I’m glad it’s working!

  2. No man’s credit is as good as his money. Better to be debt free than to have an excellent payment history on maxed out credit cards. Excellent decision!

    • MrEnchumbao says:

      I couldn’t agree any more, cash always win. I haven’t paid a finance charge over $3 in two years and it’s such a feeling that is hard to explain. We use credit cards to get rewards but it doesn’t influence how much we buy and…. The most important thing is that I made an initial agreement: Mrs. Enchumbao makes sure that the payment for the balance goes out every month. If one doesn’t have the discipline, one needs to let the other partner handle that part of the equation. But now I feel good about controlling my expenses. The biggest luxury item that i’m after is MY TIME. We can’t wait to pay full price for that commodity, to become financially independent. Thanks for the comment and support, my friend.

  3. I just can say congrats for open eyes and end with that debt. For me no debt = freedom, and people, including my close friends sell their freedom to easily

    • MrEnchumbao says:

      Hi Young Investor, so good to have you here! Thanks for your thoughts. I hear you, it’s hard to convince close people to us on how important and liberating it is to live a debt-free life. Thanks for dropping in! And the Spanish goes: Gracias por visitarnos, sigue inspirando a tus amigos a seguir tus pasos como inversor, y si no, sigue tu liderazgo y consigue otros amigos que compartan tus metas y alimenten tu ansiedad y sabiduria. Esperamos visitar a Espana pronto, cuidate.

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