After restructuring their lifestyle, Claudia and Garrett Pennington paid off $200,000 in only two years. They downsized to a tinier home, stopped eating out so often and picked up side hustles, all to minimize spending.
With these thrifty habits firmly established, they picked up one simple trick to ensure they never go over their budget.
"We actually pay our bill twice a month," Claudia tells CNBC Make It.
That means "twice a month we have an opportunity to look at our spending, and make sure that we're still spending in line with the budget that we set for the month," she says.
Credit experts recommend this strategy. Micropayments help ensure you will be able to pay off what you owe in full, and, if you find you are overspending midway through the month, you can make the necessary adjustments before it is too late.