by Steph Sarff

Debt-Free and Moving On: Kara’s Simple Story

When Kara first joined Simple, she had seven credit cards and more than $12,000 in debt. Five years later, she’s debt-free and a homeowner!
Moving boxes A pile of moving boxes in a newly-purchased home.

Kara still remembers when she joined Simple. She was living off of her credit cards, and knew she needed to make a significant adjustment to her financial life.


A new habit is born

Kara heard about Simple’s Goals feature, and was super excited to see what all the fuss was about. She set up her account right away and was optimistic about making a significant change to her spending patterns.

Before Simple, Kara always thought she had more money than she did. Bills would come out and she’d be unprepared for them. She’d been making minimum payments on each of her seven credit cards, and was getting frustrated and overwhelmed by how much she was paying in interest each month.

But something changed when she started using Simple. Slowly but surely, she began paying each credit card off. Since it was automatic, she didn’t need to think about it and was surprised at how fast she was saving money. It was actually working, but how?

The beginning of the end

Immediately after opening an account, Kara started a Goal to attack her debt. She decided to focus on one credit card at a time. She still paid her minimum payments on the others, but increased her payment amount for the first card she intended to pay off.

She set a daily contribution to fund the Goal, and the money was consistently pulled from her Safe-to-Spend®. Seeing the money pile up, without having to do anything, completely changed Kara’s ability to save. It wasn’t something she needed to focus on. She let Simple do the work for her.

It took some time, but with one Goal and one credit card down, she was starting to see that she could actually get out of the debt. So she set up the next Goal. And the next. And the next.

After four years of budgeting, planning and Goal setting with Simple, Kara finally became debt-free in 2017.

The future is bright

After the weight of the debt was gone, Kara and her fiancé started a new Goal. They wanted to buy their first home together — and this past August, the perfect house came along.

Although they didn’t have as much saved as they would’ve liked, they were able to make a down payment with what they’d saved so far in their Shared Account.

Buying a House with Simple

They intentionally purchased a fixer-upper, with a mortgage that included a $30,000 renovation budget. But Kara says there are new surprises every day so they’re still saving for things like flooring and a new roof. But being prepared, and not having to throw the costs on credit, is a great feeling for them.

She says she can’t even imagine her life without Goals, and not doing all her budgeting within Simple’s banking app.

“It’s just so easy and convenient,” she said. “I’ve convinced all of my family to join Simple too.”

Nowadays, instead of worrying about her debt, you can find Kara playing Dungeons and Dragons with friends, finding additions to her board game collection, creating watercolor paintings and other DIY projects, or working on the house with her fiancé.

Congratulations, Kara! We couldn’t be more excited to have contributed to you being debt-free so you could reach these exciting milestones.

Interested in getting started with Simple? Apply now!

Disclaimer: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from, to external sites in the wilds of the internet; neither Simple nor our partner bank, BBVA USA, endorse any linked-to websites; and we didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.