King and Queen Paid Off $35,000 Worth of Credit Card Debt in One Year

Marriage and Money Dealing with debt alone is difficult, but dealing with debt as a couple can be even harder. Yes, the wedding was wonderful, the canapés were perfect, and the most romantic vows were exchanged, “for richer or poorer, in sickness and in health blahblahblah…” They lived happily ever after. The end.

But suddenly things take a different turn. The groom loses his job and for a while the couple is forced to survive on one income. There are student loans, credit cards and a mortgage to be paid, not to mention groceries, phone bills and car insurance. Financial and emotional stress start to take its toll on the relationship and soon things are looking a little ugly. It’s a very familiar story.

Here’s a couple who did things a little differently. Self-coined King of Debt and his Queen graduated from college with over $100,000 worth of debt, the bulk of the sum from student loans. Despite working full-time jobs for four years since then, the debt continued to creep to a staggering $150,000. Together, they decided that it was time to face their debt head on and although they still have some way to go, their action plan saw them paying off $35,000 worth of credit card debt in a year!

Find out how they did it after the jump.

How they paid off $35,000 in one year and without any mention of the ‘D’ word:

They started tracking their expenses and making budgets. It helped shave off expenses from cable bills to groceries.
They practiced lifestyle deflation and learned to be happier with less.
They made goals and reviewed them regularly.
They increased their income by constantly seeking better paying jobs and creating online ventures. In one year, their income went from $60,000 to over six figures.
They educated themselves on personal finance.
They did it together as a couple by being honest about their finances and trusting one another.

The most important thing we took away from the couple was their philosophy when it came to money and marriage:

Instead of letting mistrust creep into your marriage through a financial crack in the wall, make sure to openly communicate any financial issues that you might have with your spouse. Do you think that they may be sneaking a few dollars out of the budget? Then ask them. It’s perfectly okay to ask your spouse a financial question, just don’t do it in accusatory tone. Always remember they are your spouse and deserve some respect, especially for putting up with you.

If only someone had given that advice to our parents.

Pay homage to the King and Queen of Debt at their blog, We’re in Debt.