Blog - DebtFreeCaribbean

Welcome to DFC

We are Dwayne and Kelly Jones, a young married couple living in Barbados with four children, who went from living paycheck to paycheck to paying $67,000 towards debt in 20 months which made us consumer debt free in January 2020.

Welcome to DFC

We were so excited about our progress, that we decided to create a platform to share our experiences, help YOU to work towards financial freedom and live easy…

Clearing our mortgage vs investing the extra money

This question has been taking laps inside my brain for a while – Should we focus on getting rid of our mortgage or take that extra money and invest? Here’s what we figured out:Scenario #1 – If we invest $800 every month for

Don’t play it too safe

At the beginning of the year we created our 10 goals for 2021. Some of these targets included – save/invest 10% of our net income, keep expenses below 70% of our gross income and pay at least $12,000 to our

1 Year Debt Free Recap – Lesson #3

Debt Free Lesson #3 – Mindset is the IGNITION, consistency is the GAS, extra income is the NOS ….. Sharing our ambition to become debt free with close friends, family and strangers (Debt Free Caribbean) sparked a variety of questions and comments.

1 Year Debt Free Recap – Lesson #2

Debt free lesson #2 – Staying Debt Free is a journey in itself …. Completing such a challenging goal – attaining debt freedom is a big deal. We can say that our confidence and egos were boosted. We felt FREE and ready

1 Year Debt Free Recap – Lesson #1

Debt freedom is just the beginning. Mannnnn someone needed to tell us this from the jump! We were banking on becoming debt free soooooo bad, it was all we could think about while on the journey …. let’s just finish the

1 Year Debt Free Recap

It’s our 1 year debt free anniversary! In Jan-2020 we made our final consumer debt payment. This was a big deal for us because we had spent the last year feverishly working to clear our $67,000 in consumer debt. Our

Financial Freedom Step Number 6

Most of you would have seen our 10 steps to financial freedom last year. Becoming mortgage free by age 40 was listed as step 6 but after further review of the numbers, it was clear that we were way over

Our Mortgage Free Journey

That’s right … we are officially starting our mortgage free journey!!!!! Excited with a dash of bubble guts would perfectly summarize how I feel about starting this new venture. “Are we gonna do this?” “Can we even get this done?”“This is

10 Financial Goals in 2021

In 2020, our goals were beginner friendly, and focused heavily on casting a sturdy financial foundation. We made sure to:-find suitable institutions to save and invest-save a 6 month emergency fund-determine whose salary covers what-ensure that annual expenses were accounted

Our Retirement & Investment Portfolio Part 3

As mentioned in an earlier post, we have chosen to use the following methods to fund our retirement:▪︎RRSPs – Registered Retirement Savings Plan▪︎Mutual funds▪︎Premiere plan – a savings / investment account at our credit union Today, we will share what

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