Debt-Free Together: A Real-Life Example

A while back I read an article about 4 sisters who combined all their debt and paid it off in less than a year and a half. Yeah right? It seemed so unreal that I had to find the article and read it again, Lo and behold, it was absolutely true. 

These four sisters in Texas combined their income ($106k), moved in together, cut unnecessary expenses (cable, etc), and put each other on an allowance to attack their combined debt ($182k). Whoaaaa!!!! That’s too real. Their debt included student loans, credit cards, and car payments. 

These took one of my favorite sayings and made it a reality “teamwork makes the dream work”. They joined forces to become debt free together. Imagine what you could accomplish by being debt free.

Teamwork Makes The Dream Work

Debt is a prevalent issue that affects many people’s financial stability and mental health. It can be overwhelming and hard to overcome on your own. However, a recent real-life example shows that it’s possible to become debt-free by working together. Four sisters from Texas combined their income, cut unnecessary expenses, and put each other on an allowance to attack their combined debt of $182k. By moving in together, they saved on rent, cut off cable, and combined their car insurance. They paid off all their credit cards in one month, car loans in six months, and student loans in 18 months. This article highlights the importance of teamwork, financial planning, and sacrifice in achieving financial freedom.

Combining Income

Combining income can be a game-changer when it comes to paying off debt. It allows individuals to tackle their debt more aggressively, as they have more money to allocate toward it. In this case, the sisters combined their income, which was $106k, to pay off their debt faster. Combining income is not just for siblings or family members; anyone can do it with a partner, roommate, or friend. It requires trust, communication, and financial planning to ensure that everyone is on the same page and working toward the same goal.

five men riding row boat

Cutting Unnecessary Expenses

Cutting unnecessary expenses is a crucial step in paying off debt. It requires individuals to identify their spending habits, prioritize their needs over wants, and make sacrifices. The sisters in this case study cut off cable, which saved them $174 per month. They also shopped for clothes at thrift stores and shared entrees while dining out, among other things. Cutting off unnecessary expenses requires discipline and a change in lifestyle. It’s not always easy, but it’s worth it in the long run.

Putting Each Other on an Allowance

Putting each other on an allowance was a smart move that ensured that the sisters stayed on track with their debt repayment plan. They gave each other an allowance of $75 every two weeks, which helped them manage their finances better. An allowance can help individuals control their spending, prioritize their needs, and avoid overspending. It requires transparency and accountability to ensure that everyone stays on track with their budget.

Paying Off Debt

Paying off debt requires commitment, sacrifice, and patience. In this case study, the sisters decided to pay off their credit cards first, then car loans, and finally, student loans. They followed a plan that worked for them and allowed them to pay off their debt in 18 months. Paying off debt requires individuals to prioritize their debt over other expenses, make sacrifices, and find ways to increase their income. It’s not always easy, but it’s worth it in the end.


Debt can be a burden that affects individuals’ financial and mental health. However, it’s possible to overcome debt by working together, cutting off unnecessary expenses, and prioritizing debt repayment. The four sisters from Texas are a real-life example of the power of teamwork, financial planning, and sacrifice. By combining their income, cutting off unnecessary expenses, and putting each other on an allowance, they were able to pay off their debt in less than 18 months. It’s a testament to the saying “teamwork makes the dream work.” Anyone can become debt-free by following their example and taking the necessary steps to achieve financial freedom.

Read the full article here.


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