I'm Debt Free!!!

good to hear guys!!!!!(and gals) good luck!!!
 
Sounguru said:
We are running Ramsey's program we will pay off 45K in 2.5 years if we stick to it without changing the level of comfort we have now. If we were not following it we would be looking at 7.5 years for payoff.

The cool thing is my wife and I have decided to cut a few things like soda, chips, weekly movie rentals, and other small stuff out. Just by doing those and taking that little extra cash and paying acording to his system we cut 5 months off the time to pay down. We hope to cut even more this summer by doing garage sales, mowing lawns for the neighbors, etc.

It is amazing how good it feels once you start to see the snowball effect of your actions. It becomes like a drug to get a little extra cash so you can pay off the next bill to roll the payment over just a little faster.
Click to expand...
:thm::thm::thm::thm::thm: you and the misses is doing wonderful!!!!!!!!!
 
grannylvsfish said:
:thm::thm::thm::thm::thm: you and the misses is doing wonderful!!!!!!!!!
Click to expand...

Thanks the best part was when I got that first call right after we started saying the payment was late and if I didn't pay they were going to report it on my credit. I told them to feel free because I could careless what my credit score was since I'm on an all cash system and I would pay them at the end of the month when my budget was ready to go. Poor lady spent 20 minutes trying to explain to me that without credit I was gonna ruin my life. What finally did her in was why would I need credit if I was debt free and paid cash for everything, (which by the way is the best feeling in the world) she tried to tell me I couldn't do that, when I asked her for an example of what I couldn't buy with cash she couldn't come up with one. I then offered to send her a copy of Ramsey's book and she hung up....:)
 
pam916 said:
Credit cards are such a rackett.
Click to expand...


You ain't kidding they're a racket. Trouble is these days you need at least 1 around. Another racket is buying cars and the insurance on them. Here in CT you have property taxes on the car each year, insurance, and then registration, and finally the maintenance costs.

Seems like there is always someone standing there with their hand out demanding money. There is no feeling better than being debt free. I owe less than $2000.00 on wife's car and when that is paid off - woo hoo!
 
excuzzzeme said:
I keep 2 credit cards. There is always going to be a time when one is needed. Needed as opposed to wanted is the big thing. When you start grouping things into a "needed" category seriously and then the "everything else", you can see how you have become a slave to spending. Just to make sure the account stays open, I will use them at least once a month and then pay off the card as soon as the bill comes. Even if it's just a tank of gas. As long as I do it every month, it shows up as continuous credit history. Never use them for a cash advance as that automatically gets you a "C" rating for that month.
Click to expand...

why would you need to have a credit card around if you had an emergency fund set aside? the reason your plan is dangerous is im sure you are good about paying them off at the end of the month, but what happens when "life" happens and you cant, then they start adding up. Plus credit cards charge intrest daily, there is no interest on cash! i like my money and dont want to give it away to the scum at the credit company!
 
You must log in or register to reply here.
AquariaCentral.com
Top Bottom