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The Real Reason We Got Out of Debt

  April 29, 2021  |    #Eliminate Debt

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How we got out of debt

It wasn’t until we answered this most important question were we able to start paying off our $51,000 in credit card debt. Find out what that question is and how we got out of debt. Meanwhile, make paying off your debt easier by getting your free copy of the  7-Step Credit Card Debt Slasher here.

The most important question you’ll ever ask

Would you rather have a margarita ‘here’ or would you rather have it in Puerto Vallarta?

Before we figured out what we want and what our purpose is, we were living unconsciously. We followed every whim, chased every disco ball and grew frustrated when we didn’t reach our definition of success. Being aimless meant we lacked any drive that would help us achieve what we wanted.

We were like a family on vacation without a destination or map to where we wanted. It wasn’t until we answered the most important financial question that we were able to begin thinking about paying off our credit card debt.

Why do we go to work every day? What motivates us? Why are we here?

Hear the biggest question for how we got out of debt

What’s your ‘why’ for getting out of debt?

The answer to that most important question was we want to save for a comfortable retirement, travel extensively (on cash) and give back to the LGBTQ community. When we learned the answers, it became clear that so many happy hours, nights at the club, designer clothes and more were distractions from our true goals.

When we answered this financial question, everything was put in perspective. This made it easier to stay focused on paying off our debt and improving our quality of life even when it was hard.

As Jim Rohn said, “When you know what you want, and want it bad enough, you will find a way to get it.”

Know your ‘why’ like an Olympian

Olympians are some of the most dedicated and focused people on Earth. Many wake up hours before the rest of us to train, and they often train for multiples hours multiple times a day. They eat restricted diets. They have regimented sleep schedules. They only take days off when the training requires it, oftentimes training on weekends and holidays when the rest of us are resting.

Ultimately, they only get one chance every four years to show the results of their efforts. How do they do this? They know their why, and it’s crystal clear.

It was this clarity that helped us pay off our $51,000 in credit card debt. Knowing our why helped us make better decisions when we wanted to splurge. Our why inspired us when we had a limit of spending $75 a week at the grocery store and when we had to decline invitations to happy hours, dinners and travel.

Asking this question is how we got out of debt. Have you asked yourself this important question? What’s your why? When you know your why everything will become clearer.

What’s your ‘why’? Share in the comments below.

We share more about our ‘why’ and how we got out of debt below:

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Get more help for discovering your why:

5 Building Blocks of a Happy Gay Life

We’re David and John Auten-Schneider, the Debt Free Guys ( and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.

2 responses to “The Real Reason We Got Out of Debt

  1. So true. Saving without a goal or ‘your why’ is why so many people fail at budgeting and saving. Retirement is decades away and just saving to be ‘comfortable’ isn’t enough motivation. Know what life will be like, where it will be and what you will do then visualize it exactly and go to that image regularly.

  2. Great article! Thanks for sharing this important question and amazing tool! More people must read this practical, but life altering article.

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