It was just under two years ago when my husband and I made the decision to move abroad to Madrid, Spain. If you were to hazard a guess as to why, most likely the answer would fall along the lines of having a serious case of wanderlust, being disillusioned with life in the U.S., or fulfilling a lifelong dream of moving to the country. But the reason wasn’t nearly as glamorous. In fact, it was more practicality than adventure that led us abroad for a short time. Most of my friends don’t even know this, but we left because it was the quickest way to pay off graduate school loans and reach our goal of being debt-free.

Coming to that conclusion wasn’t easy. It required leaving behind certain things like a full-time job that I loved and getting rid of the majority of our belongings – including a condo, 2 cars, and a really good bed set. (Never underestimate the value of a really good bed set.) I left the comfort of a good community in a city where I knew my way around and could easily communicate with everyone. Instead, we chose a life where half the time I felt like an insecure 6-year-old attempting to speak a new language and make new friends. But, after weighing the options and adding up all the numbers, it made more sense to follow this “promotion” abroad than both of us working full-time and staying in the States.

You may be wondering, “How are you saving money moving to Europe?”. Most people think living in Europe would cost more than the U.S. And it’s not necessarily wrong if we were being transferred to a city like London where cost of living is indeed high! But a typical monthly expense in Madrid was even less than half of what we spend now that we’re back in the States, living in the shadow of the great (and pricey) New York City!  For example – one-bedroom apartment for two in a great neighborhood near the city center = 725€, treating a few friends to a couple of rounds of beer and wine = 20€, three-course lunch menu with drink of choice = 12€.

For all other things that weren’t quite as cheap, I either bought it when visiting the States or grit my teeth and do without. (The latter felt like a chore until I adapted more to the Madrid lifestyle.) There were times it was as if we were college students instead of seasoned professionals. We spent the least amount possible and on a selfish note, did very little traveling than I had hoped. There were also moments when I wasn’t so sure my ego could stand not having a full-time job and spending my days instead with social and volunteer projects. I couldn’t have made it though without my awesome partner who helped keep things in perspective and reminded me to focus on the greater goal instead of the temporary challenges and discomforts.

In the end, it was all worth it. With less money being spent, most was squirreled away to the loans. After 1.5 years of chipping off at that gigantic iceberg, I am so happy to say that the day has finally arrived when I am completely debt-free again! The only downside is that we’ve since left that wonderfully affordable city, following yet another practicality, and are now trying to save money in a very expensive part of the U.S. Wish us luck!

P.S. I know everyone’s journey is different, depending on necessity as well as preference. I acknowledge how incredibly fortunate it was that mine happen to include a stint out of the country when others have given a far larger sacrifice. Where has your path to a debt-free life taken you?