Debt Free

[Rommey]

100% debt free!!

I owe not one dime to anyone. House paid off, cars paid off, no credit card debt, no home equity loan, no anything...

All monthly utilities and insurance premiums paid up so I was able to put 100% of my last paycheck into the savings account.

Weird to have a payday and NOT having to send someone a check for something....

 

[Puddleducker]

Congrats. I doubt I'll ever be able to make that post myself.

 

[mamatutu]

100% debt free!!

I owe not one dime to anyone. House paid off, cars paid off, no credit card debt, no home equity loan, no anything...

All monthly utilities and insurance premiums paid up so I was able to put 100% of my last paycheck into the savings account.

Weird to have a payday and NOT having to send someone a check for something....

That is what my husband has been working towards, and we are almost there. It makes me crazy, though, when he makes the big overage payments every month, but I know it is the way to go. Congrats, you did it! What a great feeling!

 

[JEEPGUY]

Good Job!
Congratulations!

 

[getbent]

That's awesome. Congrats!

 

[Graymatter]

Great job! But you still live in MD.

 

[huntr1]

I'd be more than happy to send you some of my bills to pay. Wouldn't want you to get out of practice...

 

[aps45819]

Sorry to hear you don't have a home loan interest deduction for your income taxes.

You need to find a tax shelter

 

[BadGirl]

That is awesome!

Wish I could say the same.

 

[ProfMoneyWise]

Congratulations.

Build up a 6 months of expenses Emergency Fund if you don't already have it. This is money to be put away somewhere ultra-safe and don't even think about it as a source of cash.

You are ahead of 70% of the US Population. Enjoy FFFFFRRREEEEDDDDOOOOMMMMMM!

I suggest a book by Dave Ramsey. Dave's book The Total Money Makeover is not just for getting out of debt. You can read it in a couple of days tops.

Again, congratulations and welcome to where 30% live. And what a time to achieve it.

 

[withrespect]

100% debt free!!

I owe not one dime to anyone. House paid off, cars paid off, no credit card debt, no home equity loan, no anything...

All monthly utilities and insurance premiums paid up so I was able to put 100% of my last paycheck into the savings account.

Weird to have a payday and NOT having to send someone a check for something....

Congratulations!!!!

 

[Larry Gude]

100% debt free!!

I owe not one dime to anyone. House paid off, cars paid off, no credit card debt, no home equity loan, no anything...

All monthly utilities and insurance premiums paid up so I was able to put 100% of my last paycheck into the savings account.

Weird to have a payday and NOT having to send someone a check for something....

That is fantastic!!!

It is amazing how our economy has changed from one where business tried to earn a buck from customers to one based squarely on earning a buck from a bank be it credit cards, mortgages, car payments or student loans in, what, 30 years?

I am a perfect example of how the 'new' economy works, house, cars, business, school for the kids, when everything is fine and a perfect example of what happens when the music stops. Lost a house, making do with the car (truck) as is, got behind on student loans, credit card mess, etc.

For the last 18 months, it's forced me into a 'cash' mentality, even long term business planning. We are lean and have had to make a lot of tough choices and, I hope, will be better for it in the long rung.

That's why I am so hostile to TARP; they never had to face the music, neither the banks nor our elected leaders and consequently, nothing got fixed while all of us paid their tab.

Congrats!

 

[Baja28]

100% debt free!!

I owe not one dime to anyone. House paid off, cars paid off, no credit card debt, no home equity loan, no anything...

All monthly utilities and insurance premiums paid up so I was able to put 100% of my last paycheck into the savings account.

Weird to have a payday and NOT having to send someone a check for something....

Awesome! I paid off my house early last year and started rolling bi-monthly payments into my ING savings account and also beefed up my 401K contribution.

I also got an equity line that I am using to buy a rental property.

And aps, don't be sorry we don't have an interest deduction, be happy we are socking away more money than if we had that deduction.

 

[Gilligan]

Sweet!

I'm about 4-5 years away from same situation! About 6 or 7 years ago I realized that business success and growing my company were vastly overrated, especially in a miserable state like Maryland.

Reversed course and changed objectives and now the goal is at least in sight.

 

[DEEKAYPEE8569]

100% debt free!!

I owe not one dime to anyone. House paid off, cars paid off, no credit card debt, no home equity loan, no anything...

All monthly utilities and insurance premiums paid up so I was able to put 100% of my last paycheck into the savings account.

Weird to have a payday and NOT having to send someone a check for something....

How long is that feeling gonna last though? March is on its way.
Or were you able to get your monthly bills paid up through December?
Oh, how I long for the day I'm totally debt free.

 

[b23hqb]

Debt free rocks, for sure. Been that way ourselves for the last two years. Credit cards have always been paid off monthly. Outside of those darned property taxes, homeowners/car insurances, term life policies, soaring gasoline prices, and routine monthly bills, things would be perfect.

But not owing anybody anything on home and transportation is just about perfect itself.

If I can just get my drainfield to clear itself up, that would keep about eight grand in the play around money account.........

 

[tommyjo]

100% debt free!!

I owe not one dime to anyone. House paid off, cars paid off, no credit card debt, no home equity loan, no anything...

All monthly utilities and insurance premiums paid up so I was able to put 100% of my last paycheck into the savings account.

Weird to have a payday and NOT having to send someone a check for something....

Wow...that's really too bad. Paying off a house is poor money management that is magnified by today's historically low interest rates.

Prof Money Wise and Dave Ramsey don't understand the basics of money management.

Paying off cars and credit cards is smart...paying off a house...not so much. Paying off a house early is just horrible financial management.

 

[tommyjo]

Congratulations.

Build up a 6 months of expenses Emergency Fund if you don't already have it. This is money to be put away somewhere ultra-safe and don't even think about it as a source of cash.

You are ahead of 70% of the US Population. Enjoy FFFFFRRREEEEDDDDOOOOMMMMMM!

I suggest a book by Dave Ramsey. Dave's book The Total Money Makeover is not just for getting out of debt. You can read it in a couple of days tops.

Again, congratulations and welcome to where 30% live. And what a time to achieve it.

Your advice, as usual, is terrible.

Look up the definition of opportunity cost.

 

[Chris0nllyn]

Your advice, as usual, is terrible.

Look up the definition of opportunity cost.

Coming from the person who says paying off their house is a bad thing.

Because we all just love paying interest, right!?

Lay off the bath salts.

 

[kwillia]

Sorry to hear you don't have a home loan interest deduction for your income taxes.

You need to find a tax shelter

Seriously, Aps... the cost of a long term loan is so much more than what you get in return from deducting the interest on income taxes.