In 2018, my husband and I found ourselves burdened by a staggering $32,000 in credit card debt, which was nearly five times the national average for U.S. households. At the time, I was in my late twenties, married, a mother of three, and feeling overwhelmed by the weight of our financial situation. The stress of accumulating debt—especially the spiraling interest—coupled with our inability to curb unnecessary spending, left me in a state of constant anxiety. My weekends often ended with me sorting through receipts, a task that sparked physical pain and emotional distress. Despite both my husband and I working full-time jobs, our financial contributions were directed mainly toward household expenses and existing debts, leaving little room for extraordinary financial relief.
The primary contributors to our debt were our spending habits, which were fueled by upbringing and cultural influences. Growing up in lower-middle-class families, we had limited exposure to luxuries and a lack of financial education. As soon as we gained access to credit cards, thanks to a culture that celebrated consumerism through social media, we fell into the trap of spending beyond our means. I often justified dipping into future earnings, comfortably convincing myself that my upcoming paycheck would cover our excessive purchases. Even when I attempted to pay down the debt with lump-sum payments, the cycle of spending resumed with everyday needs, alongside splurges on experiences and items that we didn’t truly need.
Recognizing that an increase in income wouldn’t resolve our problems, we shifted our focus to changing our spending habits. In early 2019, we made a resolution that would transform our approach: a game called “Consumption.” Inspired by Marie Kondo’s emphasis on decluttering and cherishing what we own, we committed to consuming what we already had before purchasing anything new. This new mantra had dual benefits—minimizing clutter and redefining our approach to spending. We set a simple rule for ourselves: no new purchases until we had depleted our existing stock of items. I embraced this method with enthusiasm, rigidly applying it to our household supplies, cosmetics, and clothes. To better our financial situation, I sold items I no longer needed and directed the proceeds toward paying off our credit card debt.
The success of the Consumption strategy became apparent as we gradually regained control over our financial lives. Social media became a vital accountability tool, allowing me to document my progress and share my victories, such as using the last bit of a favorite lotion or skipping a sale. Initially, our monthly income was about $4,000, but with the help of our new habits, we managed to direct an additional $100 a month toward debt repayment, significantly accelerating our progress. By spring 2019, we had successfully paid off our smallest credit card. We then implemented the snowball method—a debt repayment strategy popularized by financial expert Dave Ramsey—where we tackled our larger debts more strategically, culminating in becoming completely debt-free by 2021.
The lasting impact of our Consumption game extended far beyond debt elimination; it instilled values that continue to guide our financial decisions today. With a clean slate, I graduated college in 2022 without any student loans, having financed my education entirely with cash, scholarships, and grants. Additionally, we established an emergency fund, invested in a brokerage account, and ensured our retirement accounts were well-funded. My husband now contributes 16% of his income to his 401(k), and we allocate 20% of our monthly net income to savings. Our commitment to financial prudence has also enabled us to stay on track to pay off our mortgage two decades early.
Today, our life reflects a newfound sense of freedom and clarity. Our home, once cluttered and chaotic, is now orderly and manageable, which translates to a less stressful environment for us and happier interactions with our children and neighbors. The persistent pain I once experienced while sorting receipts has vanished, replaced by a sense of accomplishment and peace. Our journey from financial despair to stability not only transformed our approach to spending but also forged a strong foundation for our family’s future, allowing us to embrace a life free from financial worry. The lessons learned through this journey are invaluable, shaping our lifelong commitment to mindful consumption and financial wellness.
