After just 20 months, the Smiths are debt-free. But rather than rest on their laurels, they take their $160 each month and put it into savings where it can earn interest for them. After 32 months, the Jones get their balance paid off. The freedom jar would have saved them twelve months! Finally, after 42 months, the Browns' balance is down to zero as well. Notice that the Jones beat them by ten months merely by switching to the lower rate credit card.
And remember the Smiths' new savings account? By the time the Browns finally crossed the "finish line," the Smiths' savings had grown to more than $3,750! It takes discipline and sacrifice to move from debtor to net saver, but it's within the reach of every family willing to commit themselves and follow through.
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