Hello! Here’s how Sarah DeShaw and her husband paid off $189,000 in student loans in 4.5 years. Please enjoy this debt payoff story.
Learning how much student debt my husband had is one of those moments I will never forget.
We were on the beach. I was 20, he was 26. We were in love. Although both from the Midwest, he had moved to the southern Georgia coast while we were dating and I had traveled to visit him.
We hadn’t been together long, but both of us felt this was something serious — maybe marriage material.
While dating, I asked a lot of pointed questions as a way to understand his character and instincts. I wanted to get the hard stuff out in the open.
He always passed with flying colors.
We hadn’t really discussed finances yet, and I knew we needed to if we were going to join our lives together.
I was nervous. I thought he might be disappointed by how little money I had. I had no debt, but I didn’t come from wealth either. I had about $7,000 saved from summer jobs and working around school.
I was sitting on a blanket on sand dampened by the receding tide. He stood nearby, admiring the skyline. His 6’6 frame cast a long shadow as the sun set.
I remember the warm connection between us and the slight tension in the air — him squinting against the light, a bit nervous. Hands in his pockets, he drew patterns in the wet sand as I pressed him with my tough questions.
Finances were next.
“What’s your financial situation? How much student debt do you have?” I forced the question out, knowing chiropractic school must have been expensive.
“Around $180–190 thousand,” he answered.
In that instant my world shifted.
Emotionally it felt surreal, like in a movie when time seems to slow. My mind blanked. The scale had tilted quickly — suddenly my $7,000 felt significant.
After a moment to compose myself, I said “okay” with a positive, if strained, tone.
It was a lot, but I loved him. We could figure it out. Within a year of that conversation we were married.
My Background
I learned most of what I know about money by observing those around me.
I watched relatives make choices that cost them houses, cars, or peace of mind. I saw family members who avoided caregiving but later fought over belongings after someone passed. Life often felt chaotic and I wanted something different.
My simple conclusion: don’t spend money you don’t have. I chose not to take loans — not for school or anything else — and I worked a lot. From a young age I paid for many of my own expenses: clothes, insurance, gas, phone, even school lunches. Those experiences shaped my financial instincts and my desire for a calmer future.
How We Paid Off the Loan
Paying off the student loan came down to a simple process: evaluate and minimize costs, control spending, put extra money toward the loan, and repeat.
In practice it required emotional resilience, consistent commitment, and grit. I took the lead, and although the plan was straightforward, sticking to it meant dealing with feelings and making continual choices.
Money is a loaded topic for many couples, and we were no exception.
We truly married on love and a prayer. At first we couldn’t afford loan payments and deferred them for about three years. For a time we had only $800 in our joint account — and soon after our car needed an $800 repair. As we established careers, we slowly began paying the loan down.
Here are the specific steps we took to pay off $189,000 in student loans in 4.5 years:
1) Estimated Our Average Monthly Spending
I created a simple spreadsheet and listed every spending category with real or estimated costs. I reviewed bank and credit card statements, since we rarely used cash, to get accurate numbers.
2) Deleted, Questioned, and Lowered Spending
Once every category was listed, I evaluated whether each expense was necessary. Everything was up for review.
Three core questions guided us:
Can this expense be deleted?
Deleting expenses was the cleanest way to free up money for loan payments. We cut back on frequent clothes shopping, which had become entertainment rather than necessity, and reallocated that money to our goal.
Helpful prompts to see if an expense can be deleted:
- Is this expense necessary or important to my present life or future?
- Does this expense bring peace or create stress? (If optional and stressful, it’s often not worth it.)
Is this a good investment?
Think of an investment as spending that leads to future profit, peace, or personal growth. Not all investments are purely financial — some maintain health, sanity, or productivity.
For example, I spend about $65 per month on a gym membership that includes daycare so I can exercise, stay healthy, and sometimes work in the gym lounge while my child is cared for. That expense yields non-financial returns that matter.
Questions to evaluate investment value:
- Does this expense align with my goals and life vision?
- Has this expense proven worth the benefit, financially or personally?
Can the cost be lowered?
When an expense couldn’t be deleted, we looked for ways to lower it. I try to revisit recurring costs at least once a year — you might find promotions, lower rates, or creative alternatives that save money without sacrificing benefits.
Questions to consider when lowering costs:
- Have rates dropped or is there a promotion I could use?
- Is there a creative solution to reduce this expense?
- Can I get the same benefit for less or for free?
3) Decided What We Would Spend (Before Spending It!)
Setting spending allowances and sticking to them was crucial. We planned our discretionary amounts so we wouldn’t derail the payoff plan. It wasn’t perfect — we adjusted for unexpected large expenses — but the mix of a clear goal and some flexibility worked.
Open communication was vital. If you’re doing this with a partner, make sure both people feel included and respected in the process.
Two practical tips we used:
- Build an emergency fund and add to it monthly; use it for surprises instead of dipping into loan-payoff funds.
- When you anticipate upcoming costs (weddings, travel, big events), discuss them early and set expectations so you can plan together.
4) Put Extra Money Toward Paying Off the Student Loan
We kept spending low and directed any extra funds toward loan payments. Because I was self-employed and building a business, our extra payment amounts varied with income — when we earned more, we applied more to the loan.
Be intentional about leaving some spending money so the process doesn’t feel punitive. We were aggressive — sometimes using holiday gifts toward the loan — but we also budgeted a small “fun money” amount each month for treats that made the journey sustainable.
We even charged loan payments to a rewards credit card and paid it off immediately, earning points that translated into gift cards. Those rewards made small splurges feel possible even while we stayed frugal.
Final Thoughts
The small, consistent choices add up to big results over time. If paying off a large debt is your goal, know you’re not alone and you can do it. Diligence, planning, and persistence are powerful.
What I Would’ve Done the Same
- I prioritized early loan payoff. My husband needed convincing, but paying down principal saved interest and relieved future pressure — which proved invaluable during later income disruptions.
- I read other people’s debt payoff stories for motivation. That community of examples helped enormously.
- We used credit cards for payments (paying them off immediately) to earn rewards — about $3,780 in value — which felt like abundance during a disciplined period.
- We prioritized good food and health. I didn’t want to skimp on groceries and nutrition; being healthy matters when you’re tackling big goals.
- I tuned out others’ judgments and followed our plan. Personal finances are personal — stick to your path if being debt-free is important to you.
What I Would’ve Done Differently
- I would have celebrated more. Paying off a major debt is worth marking. Next time I’d set aside a small celebration fund for a trip or party.
- I would have prioritized retirement savings sooner. In my twenties I didn’t understand investing well enough. If I could do it again, I would have contributed to Roth accounts while paying down debt — even if it slowed the payoff a little — because time in the market is a powerful advantage.
Ready to Do This Yourself?
If you’re ready to take control of your spending and accelerate your goals, consider using a guided process like a budget workbook to walk you through these steps. Turning this approach into a yearly ritual can help you pay off debt, buy cars with cash, start businesses without borrowing, and better weather income disruptions.
From the bottom of my heart, I wish you the best on your financial journey. Securing your future and pursuing meaningful goals is worth the effort.
Author bio: Sarah DeShaw is a systems- and style-focused online educator and author of the “Budget Detox” workbook. With years of experience running businesses and curating a simpler life, Sarah helps others find peace and fulfillment by applying minimalist financial principles both personally and professionally.
Do you have debt? Are you trying to pay it off quickly?