Hello! Today I have a guest post from Dave at The Dollar Blogger. Dave lost his job, and two weeks later his wife was laid off. This is their story of how they coped, the sacrifices they made, the strategies they used, and what they learned.
I’ll be candid — I’m not someone who practices extreme frugality. I wouldn’t call myself frivolous, at least not anymore, but in 2012 my wife Mary and I were hit with a harsh dose of reality when we lost all of our income within two weeks. One wrong decision followed by a layoff turned our combined income of roughly $100,000 a year into zero.
In this article I’ll share that frightening financial episode, how we navigated it successfully, and how we rebuilt our financial footing.
We also learned lasting lessons about money that can help anyone facing a sudden and total loss of income.
Ultimately, we lived on $2,000 a month for just over three years.
Related content:
- How We Paid Off $100,000 of Debt on a Single Income
- How We Paid off $266,329.01 in 33 Months
- How Amanda Paid Off $133,763 In Debt in 43 Months