I walked to Wamu and got a certified check (a pain!) for $112.62. It's in the mail, and then we'll get Car #2's title. WE'RE DEBT FREE.
I made this blog looking forward to the day we would have no debt. There really has been so very much debt. I've been blogging just under a year, and there have been some set-backs, some more debt, some mistakes. But we made it. We had our eyes on the prize, and we made it. We have paid off:
* 6,400 in family debt (OUCH! That was humiliating.)
* 25,000 on a rip-off car loan
* 30,302 in car debt to buy a second, luxury car
* 18,350 in business start up costs
* 22,000 credit card debt (as of December 2007)
* over 100K in student loans
Whew, that's is why I have never been debt-free since I stepped on the plane to go to college.
Some people hold on to their low-interest student loans or car loans. Me, I wanted them gone. I didn't care how cheap they were. I wanted that monkey off my back. It felt like a BIG DEAL when I paid off my student loans. I could feel that monkey lifted. But this time, it kind of feels anticlimactic. Probably because the last loans, the car loans, were heavily secured and could be paid off by just selling the cars.
Now we have at least 50K in cars free and clear. We have a pile of cash for most of the wedding. Now that we're debt free, our cash can chase our dream of buying a house. We can now say that WE'RE DEBT FREE and that is certainly something to be proud of!
Monday, November 24, 2008
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20 comments:
Congrats! What a feeling that must be! I cannot believe how much debt you have paid off in such a short period of time. You inspire me.
Wow congrats, that's awesome!
Congrats!! :)
Congrats, 2x
You did well
Now all u can do is pile up cash!!!!! Waht a feeling!!
Congrats! I stumbled upon your blog a month or two ago and read it from the start..
Time for the house.. at your pace, you'll pay off the 30 yr mortgage in 5.. lol.
Congratulations, that's fantastic news. Well done!
Congrats!! I've been reading your blog on and off for a while and this makes me want to tackle my debt as well! Only I won't publish it in my blog :) Not ready to open the can of worms of snarky comments just yet!
It would be nice though to see how your paychecks went to paying off debt (some other PF blogs do it), but that of course, is up to you!
CONGRATS!! I know you feel great!
Good for you. You should call up Dave Ramsey and yell that.
I'm really glad to hear this! I've been following your blog and you have been working towards this moment for a long time.
Congrats!
Congratulations, I paid off my car loan early even though it was only 2.9%. It was a cash-flow issue, it was a large monthly payment. So how great does it feel to be debt free!
Congrats! I'm sure it feels great.
Congratulations. It's a wonderful feeling.
congratulations!! that is fantastic!
How very great for both of you.
Congratulations!
Congrats on a job well done!!
Thanks for your sweet comments, everyone. I hope you all get to feel the freedom of being debt-free.
CONGRATULATIONS!
I'm about to feel debt free in about a week once my money transfers :)
Congrats! As everyone else said, it's especially impressive considering the amount of time.
I am a single mother of three. My husband was a police officer and was shot in the head in the line of duty. He stayed in the hospital for 8 months before dying. Every penny of our life savings, retirement and his life insurance was gone by the end of that year.
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