A major event in the life of my family and 20 year marriage

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[ARCHIVED THREAD] - A major event in the life of my family and 20 year marriage

Posted: 9/17/2009 1:16:56 PM EDT

Tomorrow at 12 noon when the mail goes out, I will finishing the journey of becoming totally debt free...

After all this time and work and sacrifice, a dream is coming true. I don't even know how it is going to feel to have that freedom. We drive two junky cars but they are paid for, no house payment. It will just be food, car maintenence, and clothes and whatever it takes to stay alive. Oh, I forgot... Ammo.

All I can say is the Bible is right about the borrower being a slave to the lender and that relationship gets NUKED tomorrow.

Free at last!!!! Free at last!!! Thank GOD ALMIGHTY WE'RE FREE AT LAST!!!!!!

You guys that are working at this goal, don't give up, it is worth it and it will come.

Patrick

Posted: 9/17/2009 1:19:11 PM EDT

[#1]

Dave Ramsey is proud of you!

Good Job.

No car payments, working on the house now.

Posted: 9/17/2009 1:19:16 PM EDT

[#2]

Congrats!

I've been that way for about 4 years now.

It really doesn't feel that much different. My wife still takes every other paycheck and squirrels it away, but with our support of her parents growing, it's a wash.

That is life, and I still am in love with it.

Posted: 9/17/2009 1:20:54 PM EDT

[#3]

So you going to buy a couple of new cars?

Posted: 9/17/2009 1:22:16 PM EDT

[#4]

Wow, awesome!

My house is my only debt source right now. I feel like I'm in as good a position as I can be with it, but yeeeegads would I ever like to have it paid for.

Posted: 9/17/2009 1:23:22 PM EDT

[#5]

Yes credit is the devil. We are working on it and plan to be debt free in the next couple of years. Damn hard thing to do.

Posted: 9/17/2009 1:25:49 PM EDT

[#6]

If things go as planned I'll have my house paid off in 6 more years.

Posted: 9/17/2009 1:26:35 PM EDT

[#7]

It is like having a huge weight lifted off your shoulders and a new found freedom.

Now insurance and taxes will really start to piss you off, along with leeches on the .govt dole.

Posted: 9/17/2009 1:30:04 PM EDT

[#8]

Congrats

Posted: 9/17/2009 1:30:45 PM EDT

[#9]

I'm gonna start on that soon i am tired of the damn car payments, cc bills etc. I'll be selling my car and buying a older one for cash then paying off the stupid cc with bigger payments each month. Will be nice to finally set some aside again.

Posted: 9/17/2009 1:31:02 PM EDT

[#10]

Now, the single largest expense is......

......TAXES.

When do we finally got those paid off?

ETA:

Quoted:
I'm gonna start on that soon i am tired of the damn car payments, cc bills etc. I'll be selling my car and buying a older one for cash then paying off the stupid cc with bigger payments each month. Will be nice to finally set some aside again.

I like that. Getting out from under debt does feel good.

Posted: 9/17/2009 1:33:47 PM EDT

[#11]

Right there behind you....by next March I will have about $1800 a month no longer going to payments; a year after that and all I'll have is a mortgage. Can't wait to have a real savings account again. Hopefully spiraling inflation won't render it all useless.

Posted: 9/17/2009 1:36:23 PM EDT

[#12]

Quoted:

Dave Ramsey is I'm proud of you!

Good Job.

No car payments, working on the house now.

Posted: 9/17/2009 1:42:00 PM EDT

[#13]

NIIICE!!

Posted: 9/17/2009 1:44:20 PM EDT

[#14]

No car pmts, working on house.....

Posted: 9/17/2009 1:46:29 PM EDT

[#15]

If you are not buying new cars you are unamerican and not helping the economy.

Posted: 9/17/2009 1:47:05 PM EDT

[#16]

I paid mine off circa 2000...

It's AWESOME. Your stress levels will drop, and your disposable income will rise!

Now, don't be stupid. Don't let anybody convince you to use it to secure another loan...ever...

Posted: 9/17/2009 1:47:56 PM EDT

[#17]

Quoted:

Wow, awesome!

My house is my only debt source right now. I feel like I'm in as good a position as I can be with it, but yeeeegads would I ever like to have it paid for.

As a fellow DINK, I say don't worry about it....if that mortgage were paid off you'd just be spending the dollars you pay in interest on taxes instead. Sure, it be psychologically fulfilling, but from a personal finance stand point you are better off holding cash in a MMA than you are having it all tied up Michigan real estate.

Posted: 9/17/2009 1:48:06 PM EDT

[#18]

Congratulations....if everything works out for me I will be free and clear by late spring / early summer next year.

Posted: 9/17/2009 1:50:20 PM EDT

[#19]

Way to go!
Dave Ramsey's system really is the best way to do it. We're working on it but we've got a way to go.

Posted: 9/17/2009 1:51:24 PM EDT

[#20]

Fucking awesome!

Posted: 9/17/2009 1:52:07 PM EDT

[#21]

Congratulations

Posted: 9/17/2009 1:52:58 PM EDT

[#22]

Only debt I have right now is my truck payment and that makes me angry every month. I HATE being indebted.

And I guess renting like I do is a form of debt since I'll never see that money again. I'm really not looking forward to buying a house though. The idea of owing someone $100k+ is not enticing.

Posted: 9/17/2009 1:54:08 PM EDT

[#23]

Quoted:
Yes credit is the devil. We are working on it and plan to be debt free in the next couple of years. Damn hard thing to do.

no no, Freddy is the Devil. Don't forget it.

Posted: 9/17/2009 1:57:01 PM EDT

[#24]

Where do you get this free shit? You owe property taxes,insurance and a shitload of other monthly bills. I have had no house payment for years but I still have bills. You will never be free.

Posted: 9/17/2009 2:01:11 PM EDT

[#25]

Congratulations!

I had a dream of being debt free as well, but circumstances have conspired against me. I may soon be free of my house payment though!

I am genuinely happy for you and more than a little envious. You have obviously sacrificed a lot and achieved a great thing.

Posted: 9/17/2009 2:08:08 PM EDT

[#26]

Congratulations!

Posted: 9/17/2009 2:15:25 PM EDT

[#27]

Congrats, I envy you.

Posted: 9/17/2009 2:16:59 PM EDT

[#28]

That's awesome! Congratulations to you. I've been debt free a couple of times, but I don't own my own home.

Posted: 9/17/2009 2:20:03 PM EDT

[#29]

Been there for a couple of years now.

Sure takes the edge off of being unemployed.

GM

Posted: 9/17/2009 2:20:28 PM EDT

[#30]

Well I was less than $2,000 away, then divorced. Square one again! Congrats onYours though. Hope to be there again some day

Posted: 9/17/2009 2:22:31 PM EDT

[#31]

Congratulations.

Posted: 9/17/2009 2:23:13 PM EDT

[#32]

Congratulations!

Now you just have to make constant property tax payments!

Posted: 9/17/2009 2:27:49 PM EDT

[#33]

Good Job!

Posted: 9/17/2009 2:53:46 PM EDT

[#34]

Quoted:
Congratulations!

Now you just have to make constant property tax payments!

Ain't that a bitch! Part of my ultimate retirement plan is a trust that pays the annual interest to my damn property taxes. My eventual retirement location is heavily dependent on them as well.

Posted: 9/17/2009 2:56:08 PM EDT

[#35]

Congrats!

8 years now myself (I'm 43). Now I plow it all into retirement savings.

It IS worth the hard work. The heavy weight is off your shoulders.

Posted: 9/17/2009 2:56:42 PM EDT

[#36]

Congratulations, sir!

Posted: 9/17/2009 2:58:48 PM EDT

[#37]

No car payments, no credit cards, just a mortgage (and thats on it way down by paying extra on the principal).

Posted: 9/17/2009 3:17:09 PM EDT

[#38]

It's not what you owe but what you own.

And...always borrow as much money as you can.

Additionally...always have a nice tan.

eta: I'm rich in spirit!

Posted: 9/17/2009 3:25:12 PM EDT

[#39]

Good job. The best decision I ever made was buying this house. I purchased it before the housing market spike and the equity alone made me a lot more $$$ along the way. Thanks to the equity and the ridiculously low interest rates, I was able to buy a piece of property out of state and a nice "toy" to have fun with.
As far as paying off the mortgage, that'll happen after I retire and I sell it. The profits (even in this market) will satisfy the remaining mortgage and the cost of a brand new house on the property I already own.

......yes, it's good to be an American. Congrats to you.

Posted: 9/17/2009 3:28:32 PM EDT

[#40]

Quoted:

Quoted:
Wow, awesome!

My house is my only debt source right now. I feel like I'm in as good a position as I can be with it, but yeeeegads would I ever like to have it paid for.

As a fellow DINK, I say don't worry about it....if that mortgage were paid off you'd just be spending the dollars you pay in interest on taxes instead. Sure, it be psychologically fulfilling, but from a personal finance stand point you are better off holding cash in a MMA than you are having it all tied up Michigan real estate.

Would you rather send the mortgage company $10,000 in interest than send the government (insert tax rate here) x $10,000 in taxes? If so, pay off your home, send me what you would have spent in interest, and I will pay the taxes on it for you!

Posted: 9/17/2009 3:34:05 PM EDT

[#41]

Congrats on the accomplishment. We hope to be debt free but the house by Christmas 2010. We've been bustin ass since august '08

Posted: 9/17/2009 4:28:02 PM EDT

[#42]

It was all cc debt. We owe nothing on anything else. I won't say how much but it was thousands of dollars. So much so it was embarrassing and debilitating. We don't owe on cars. We paid off a new car we bought in 2001 and bought a $1300 96 Park Avenue a few months ago as a second car.

It is amazing how short sighted I was. It wasn't my wife, she is about the most low maintenance woman I have ever known. I used the CC to buy stuff that I wanted now. This was my life style till about 5 years ago when I grew up I guess. About the time you grow up you realize what you have done but you are in a corner so far you can't get out. We worked, lived like hermits, and I got on a running program about 9 months ago and have lost 30 pounds and run 1.5 to 2.5 miles a day. I am up to 25 miles for the month so far. I think the running has helped alot in giving me a mindset that I can do anything I want and to say "no" to myself when I wanted to quit.

It is a whole lifestyle change with some prayer thrown in. I have to hand it to my wife. She didn't ask for this when she married me and I let her down. Thankfully she is forgiving and loves me, I don't know why...

Anyway, if you want something bad enough, I don't care what it is, most of the time, the limits you place on yourself are all in your own head. You can run through the pain and you can resist the urge to be self indulgent and short sighted. You just have to reach the point where you are ready to do it.

I'm just sayin...

Patrick

Posted: 9/17/2009 4:30:23 PM EDT

[#43]

Quoted:

I'm gonna start on that soon i am tired of the damn car payments, cc bills etc. I'll be selling my car and buying a older one for cash then paying off the stupid cc with bigger payments each month. Will be nice to finally set some aside again.

That is my exact plan too!!

Posted: 9/17/2009 4:33:54 PM EDT

[#44]

Congrats.

Both my trucks and the boat are paid for. Credit card is paid every month. Only have about half the mortgage on the house to go, so I'm thankful how fortunate I am compared to many others.

[ARCHIVED THREAD] - A major event in the life of my family and 20 year marriage

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