Debt-Free Journey Interview #3

The purpose of the debt-free interview series are to help others learn strategies for paying off or avoiding debt.

Todays interview is with Ore from @growingyourcoins

Personal bio: I graduated in May 2020 with a Bachelors and Masters in Information Technology & Management and specialized in Cybersecurity. I currently work as an IT Cybersecurity Engineer.


Currently, I’m a process improvement consultant for a technology company based in Nashville, TN working my way to $1M in net worth by the age of 35

Lets get started!

What was your age at the time of your first debt?

20 years old.

What type of debt do you have?

I currently have student loans and a car loan.

How much is the debt?

My total debt is $30k.

How long will it take to pay it off?

Estimate: 24 months.

What is your pay off strategy?

For my student loans, my strategy is using the avalanche method (paying down the balance with highest interest first) then moving on to the next one.

Other strategies:

  • At the moment, I am not making payments because of the proposed loan forgiveness by the President (if that happens lol).
  • I also applied to an initiative by to help students pay off their loans if selected.
  • I am putting money into a High-yield savings account in case any of the mentioned plans above don’t work out. That way, I will be ready to pay it all off at once. 🙂

For my car loan, I got a great rate and paying more than the minimum payments per month and I am aggressive with my loan term (did 24 months, but might pay it all off before then).

What mistakes do you think you made along the process?

I wish I didn’t have to take out student loans, but it was needed. I bought a fairly used car and plan to drive it for a long time. Not much regret or mistake.

What advice do you have for others?

  1. List out all of your debts and interest rates.
  2. Decide which debt is bothering you the most and focus on paying it down and move on to the next one.
  3. Make more than the minimum payments required so you can get out of debt faster.
  4. Choose a pay off date so you can look forward to that date, but be flexible.
  5. Use debt pay-off calculators to determine how much interest you’ll be paying based on your pay-off date 7)
  6. Don’t take on anymore debt.
  7. DON’T FORGET TO CELEBRATE YOUR SMALL WINS – you’re doing amazing!!

Is there anything else you’d like to share?

I didn’t blindly go into debt. I was strategic with my student loans and car loan. I already had plans in place to pay them off in a short time. I did extensive research, made sure my credit was superb, searched for good interest rates and negotiated.

Key Lessons:

  • List out all of your debts & interest rates.
  • Make more than the minimum payment.
  • Decide when you want to be debt free & use debt pay-off calculators.
  • Celebrate wins along the way.
  • If you know you have to take on debt, be careful & strategic about it and have a plan in place.

Like this story? Follow Ore from @growingyourcoins and follow her journey to financial freedom.

You can also connect with Ore on her blog here:

Follow @budgetadvisorblog on Instagram for more related content!

Legal Disclaimer: The nature of this blog is to educate and inform based on the opinion and experiences of the author and should be taken as such. The information and ideas found on this blog are opinion-based and these opinions do not reflect the ideas, ideologies, or points of view of any organization affiliated with this blog. The information on this blog is authentic to the best of my knowledge, and as such, it is prone to errors and the absence of some key information. The content on this blog is generated for entertainment and informative purposes and is not intended to be perceived as professional advice in regards to health or finances, or any other field.

Published by Dana Johnson

Hi, my name is Dana and I help teach the value of budgeting & saving early on in life so you can achieve your financial goals.

One thought on “Debt-Free Journey Interview #3

Comments are closed.

%d bloggers like this: