I took money out of our FNBO savings and paid off the $518 we owed. I also kept some of the money to buy a new HDTV as a treat :) That left $9,000 at FNBO. I should have the Bank of America account at $1000 this month, for a total $10,000 in emergency savings.
Today we are credit card debt free! I can't believe we paid off all our credit cards. We met our goal of not carrying this debt in to our 30's. Looking back I'm still amazed at our progress, if you sort my postings back to March 2008 you can see we had over $12,000 dollars in credit card debt. The only advice I have for people looking to pay off their credit card debt is: If you make it your goal and your top priority, it will happen. There's proof all over this blog that it can be done.
We still have 2 debts other than the house. One is a car payment, the other a student loan. Both have very low interest rates so for now our plan is to continue to fund our savings. I will post more about those debts in the coming weeks.
HS
20 comments:
Congratulations!!
Way to go!
Very exciting news! Congrats.
congratulations!!!
Congratulations! Isn't that a fabulous feeling?
Keep that great momentum going!
Congratulations!!!!
Congratulations, that's fantastic news!
congratulations!! people like you have inspired me to start my own blog and hold myself accountable for paying off my debt!! thanks for the great example!!
I just wanted to say congrads! I owe CITI $9,100 right now and it really hurts. I know those citi screenshots very well. Hopefully I will get there someday. I just have to kep working at it
Didn't you just take money out of your insurance settlement -- money to which you said you weren't sure you were entitled -- to pay off this debt (and buy yourself an expensive new TV)? My concern is you don't seem to really be changing your spending habits. That might come back to bite you in the long run...
Congratulations! You should send an extra dollar to each, so now THEY OWE YOU!!
Great job!
Congratulations, that must be a great feeling. I love that you built up savings while paying down debt, I took the same approach.
That is great! Now on to the student loan and the house. Maybe you can be debt free of all in a few years.
Now that you have all credit card paid off it will be easy to go back to spending alot, but don't. Agressively attack that student loan now.
I know because when I became debt free and have savings (this year this happened), I have been spending more, but I need to focus on saving for a house and retirement now.
I enjoy your blog.
Congrats, and enjoy that new paid in cash for tv. -Becky
I mean attack the car and student loan, and plan on never having a car payment again also.
Congrats!! So did you cut up all of your cards? Seems like you have expressed some fears about your spending habits. That would be so sad to see you have another credit card balance after all that work.
Well, you're NOT debtfree (student loans and car loans really DO count as debt!) but you are very far along the road to debt freedom, and I congratulate you for that. It's wonderful, especially at your age, and I envy you.
Really good management require for the transaction through credit card otherwise it will show some negative results also. U have provided very nice information over here. Thanks.
awesome! i cant wait to be where you are at!
Way to get the credit cards out of your life. That wasn't a bad goal to get them dumped before your 30s too, I might consider that. While we don't have car loans, the credit cards have dwindled down to a couple with balances. I think if we paid them around 10-15k a year, they would go away fast. The top priority after that is to get rid of the student loan debt. Congrats to you both though on this milestone!
WOW. Congrats!!
This is inspiring to everybody. My readers will appreciate it too. Thanks!
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