Burdened by $18,000 worth of student loan debt, David Cahill and his wife Meg buckled down on their finances in February 2016.
"The weight of the monthly payments was causing enormous stress and unhappiness," Cahill tells CNBC, "so we decided to really push things into high gear and turn that emotion into action."
The Chicago-based couple did just that. David and Meg, both educators, reduced their spending, started saving more than half of their combined income and saved $7,800 in 54 days. Their extreme saving, coupled with a decision to dip into their robust emergency fund, left them debt free by April 2016.
Their journey out of the red all started with a mindset shift, Cahill tells CNBC: "Our mantra became: Sacrifice now in order to be able to win later. We made it a priority to cut out any kind of overly inflated lifestyle habits that had crept into our lives."