How one couple earned 7 degrees without taking out student loans - and still saved enough to stop working for 5 years

Justin Hall and Tina Hanisch, both 29, invested a lot of time in their education.

Hall received a bachelor's degree, two associate's degrees, and a master's degree, while Tina earned two bachelor's, an associate's, and is slated to complete her master's in two years, which will up their degree count to eight.

Their education came with a hefty price tag of $206,000. They whittled that sum down to $68,000, and paid it without taking out any student loans.

What's more, through diligent saving and creative strategies, Hall and Hanisch - who are not married - have saved enough money that they could choose not to work for the next five years. Their impressive savings were an indirect result of living below their means and keeping expenses at a minimum.

"Neither of us can sit still, so not working is out of the question," Hall, who works in financial services, tells Business Insider. Hanisch is a registered nurse and works when she's not taking classes or studying. "Being financially responsible is more about the opportunities versus not having to work. We want the ability to take more risk, to try new things, and to experience life in ways you normally couldn't."

Here's how they covered $206,000 worth of education and set themselves up for several years of financial independence.