2010 the Miracle!

“Dear God,
Okay, I know this is a BIG ask, but I’m going for it…I want to be debt free, all but my house, by the end of this year. I’m going to commit to do all that I know how to do to get us there, but mathematically it’s just not possible. I need you to produce a miracle to forgive this debt, and I’m asking you to do it by the year’s end because that truly would be a miracle! If it is not your will I completely understand and trust that you have your reasons. My only other stipulation is that nobody dies in order for this to happen…I most definitely don’t want to pay off debt that way! I know it’s a lot to ask, and normally I wouldn’t dream of being so audacious, but I’ve learned that I should not insult you by trying to limit your abilities to what only my little brain can comprehend! Thank you for listening to and never tiring of me! It’s going to be a great year! Amen!”

And that’s how I started out 2010 – with that prayer. Our pastor had done a sermon about “The One Thing” that we hoped to accomplish in the upcoming year and we were to take that one thing to God. We were instructed to pray for it to happen, to be specific, and to believe that it would be given. So that’s what I did. I know that I shouldn’t put stipulations on God, like a time limit, because His ways are always better than mine (and rarely the same I might add), but my reasoning for the stipulations was simple. First off, I definitely did not want to prosper from anyone dying - understandable right?! Secondly, the BIG ask needed to be something, well – BIG! Without the time limit it seemed to be something that we could feasibly do ourselves within the next few years. But within a year’s time I could not see ANY possible way for this debt to disappear without a Godly intervention. So I committed to do my part. As you may know from reading some of my other posts (specifically “Screw Nehemiah: NEH Part II posted in Dec. 2010), things have been pretty tight financially around my house over the past few years. On a monthly basis our out-go has been more than our in-flow, so we have depended on my husband’s year-end bonus to make up for that shortfall. Historically his bonus is quite good and God has been making sure that it all works out!

So even though financially 2010 started out much the same way as other years, we decided that we were really going to tighten our belt and commit to sending a specific amount over and above our normal car payment, which would pay it off by the year’s end. We also committed to paying a set amount per month to the credit card which was slightly more than the minimum. By the end of the year, assuming we had a normal bonus, we should be able to pay off that card too. Mathematically that was all I could put together in my mind. I could commit to get us out of debt on the car and the credit card, but that still left the student loan. Even if, and assuming we received a comparable bonus to years past, it would not be enough to pay off the student loan in it’s entirety – see what I mean by a “BIG” ask?!

So that was my plan for the year and I embraced it with a passion (I would say “we” but my husband was not quite as enthusiastic or confident as me, although he did willingly go along with the plan – even sacrificing his beloved OU Season Football Tickets!). I want to mention that we have been tithing faithfully for years now and that did not change throughout this process. I fully believe that when you return your first and your best (to God) that He blesses the rest. I’ve seen it proven in my own life over and over again, so I wasn’t too surprised when things really started to move our way.

In January, my husband’s architectural firm asked me if I would be interested in contracting with them for interior design work – of course I would! Cha-ching!

In the springtime, we got a pretty substantial tax return, which was good but it also reminded us that we had been overpaying our taxes. Which really just means that we were loaning the government our hard earned money all year, interest free! So we reevaluated our deductions and decided to hold out less each month, putting more money in our pocket to pay down the debt.

We also met the deductible on our HSA (Health Savings Account), which meant that we were able to stop contributing so much per month since any bills would now be paid at 100%. Again, more money in our pocket! Things were really picking up steam.

Now my husband usually gets a mid-year bonus as well, but in this uncertain economy he had been warned not to expect or rely on it. But I went right on believing that somehow God would make it all work out. And guess what? -He did. My husband got his bonus, and although it was less than year’s past, it was EXACTLY the right amount to go ahead and pay off the car, four months ahead of schedule! Oh happy day!

Not long after that, I had the idea (obviously a divine revelation) to refinance my house. I had looked into it before but with the interest rate at the time it wasn’t really worth it. But something told me to check again. Monthly, I wasn’t really expecting to save much, but interest rates had dropped so dramatically that I’d be crazy not to re-fi if I could keep my payments roughly the same. So long story short, we did the re-fi and guess what? – not only did I considerably drop my interest rate and save a little money every month, but I got back all of the money that we’d been putting into escrow, AND we got to skip a house payment while everything was processed – two benefits that I had never even considered. So, I combined that escrow money and that monthly mortgage payment and paid off our credit card, 2 months early! All of a sudden I was starting to fathom how we could possibly pay off our student loan by the end of the year. God can always make a way!

So here it is, January 2011 and I had been hoping and sincerely believing that my first post of the new year would be my testimony of how God provided a miracle and that we were finally able to scream “I’m debt free” on the Dave Ramsey radio show (at least that was my fantasy – I think I might need to get a life!). Anyway, while I can’t yet say that we are debt free, I can most assuredly say that God provided that miracle. And here’s how:

In this tough economy the year-end bonus didn’t even come close to previous years, however we were able to pay off two of our three debts before we even knew that to be the case. This monthly savings allowed us to have an all-cash Christmas, which typically we would charge and then pay off with the bonus. That savings also allowed us to balance our monthly budget. Our in-flow is now more than our out-go, yea! We are no longer dependent on that bonus - Praise God!

I would be lying if I said that I wasn’t disappointed or that I didn’t feel somewhat let down by God, but I just remind myself of what He said in Isaiah 55:8-9:

“My thoughts are nothing like your thoughts,” says the Lord. “And my ways are far beyond anything you could imagine. For just as the heavens are higher than the earth, so my ways are higher than your ways and my thoughts higher than your thoughts.”

I know this to be true, and I am SO grateful for the miracles that did occur. My favorite thing about 2010, by far, was getting to walk so closely with Him, seeing Him work daily in my life. Sure I wish the student loan was gone too, but I know that He has not abandoned me. It’s just going to happen in His time, His way, and it will work out even better than I could ever imagine! I’ll let you know how and when that transpires. I have a feeling it’s going to be good! So in the meantime, I’ll keep believing God for miracles, recognizing when they happen, and giving Him all the glory! I’m so excited to see what He has in store for 2011 – for all of us! Please feel free to drop me a line if you ever feel like sharing your story! Happy New Year!