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Posted: 4/24/2013 5:07:17 AM EDT
[Last Edit: 4/24/2013 5:08:21 AM EDT by DMWalking]
In 316 days I will be 100% debt free.  No car Loans....No Home Loans..no Student Loans...Nothing.  

I'm looking forward to this day.  Shoot, I'm excited for this day.

Link Posted: 4/24/2013 5:08:15 AM EDT
Do you own the house or do you rent? Also how old are you? Congrats!!!

Wife and I are looking to do the same thing in a few years if she get this new job.
Link Posted: 4/24/2013 5:13:12 AM EDT


I will be there in 229 days myself. The only thing on my plate after that will be monthly bills totaling $524 I'm getting shitty the day I send the last payment off. my SO and I have our plan and we are running it down.
Link Posted: 4/24/2013 5:13:22 AM EDT
[Last Edit: 4/24/2013 5:14:25 AM EDT by DMWalking]
Originally Posted By 2000Z3M:
Do you own the house or do you rent? Also how old are you? Congrats!!!

Wife and I are looking to do the same thing in a few years if she get this new job.


Currently, I don't own a home, but those are in my Near Future plans after I fix my credit.  I will have a substantial Down Payment when I do get one.  I'm 27 almost 28.  I've made many dumb mistakes in my past with my money or other peoples money.  I've ruined my credit, got caught up in credit card debt, even payday loans.  It finally got to a point to where I said enough is enough and decided that I wouldn't be "One of those Americans" with substantial debt.  

By no means am I rich, but I must learn how to live within my means.  I still owe $8 grand and I still have a very low number in my savings, but I'm turning this around.
Link Posted: 4/24/2013 5:22:55 AM EDT
Originally Posted By DMWalking:
Originally Posted By 2000Z3M:
Do you own the house or do you rent? Also how old are you? Congrats!!!

Wife and I are looking to do the same thing in a few years if she get this new job.


Currently, I don't own a home, but those are in my Near Future plans after I fix my credit.  I will have a substantial Down Payment when I do get one.  I'm 27 almost 28.  I've made many dumb mistakes in my past with my money or other peoples money.  I've ruined my credit, got caught up in credit card debt, even payday loans.  It finally got to a point to where I said enough is enough and decided that I wouldn't be "One of those Americans" with substantial debt.  

By no means am I rich, but I must learn how to live within my means.  I still owe $8 grand and I still have a very low number in my savings, but I'm turning this around.




If more people thought like this. We would be a lot better off in this country. Good for you.
Link Posted: 4/24/2013 5:25:49 AM EDT
Good for you man!
Link Posted: 4/24/2013 5:29:18 AM EDT
November 26, 2013, will have paid of my house 26 years early--fuck you GMAC-I'm one of the reasons you went bankrupt.
Link Posted: 4/24/2013 5:30:15 AM EDT
[Last Edit: 4/24/2013 5:30:32 AM EDT by snakes19]
I am about 6 months away myself(knock on wood), going to feel real good.
Link Posted: 4/24/2013 5:41:19 AM EDT
Link Posted: 4/24/2013 5:41:58 AM EDT
I can't wait for that day. Hopefully about 5 years for me. Then again, I'm only 23 (turned 23 four days ago), and almost exactly 1 year out of college. Goal, and seems realistic at the rate I'm going, is to have everything paid other than a mortgage by the time I'm 28 and have 6 month's salary in the bank, plus a big chunk in my Roth 401k and Roth IRA.
Link Posted: 4/24/2013 5:46:35 AM EDT
I should be free of a loan and 5 credit cards in six months. It keeps me going Lol.
Link Posted: 4/24/2013 5:56:38 AM EDT
Originally Posted By DMWalking:
Originally Posted By 2000Z3M:
Do you own the house or do you rent? Also how old are you? Congrats!!!

Wife and I are looking to do the same thing in a few years if she get this new job.


Currently, I don't own a home, but those are in my Near Future plans after I fix my credit.  I will have a substantial Down Payment when I do get one.  I'm 27 almost 28.  I've made many dumb mistakes in my past with my money or other peoples money.  I've ruined my credit, got caught up in credit card debt, even payday loans.  It finally got to a point to where I said enough is enough and decided that I wouldn't be "One of those Americans" with substantial debt.  

By no means am I rich, but I must learn how to live within my means.  I still owe $8 grand and I still have a very low number in my savings, but I'm turning this around.


That's awesome dude!!  After you get out of debt you will be amazed at how your savings can freaking explode by not being consumed with monthly bills.  

We currently only have a mortgage that we're on track to pay off early. I bought my last vehicle with cash. Granted it's old, but man it still feels awesome.
Link Posted: 4/24/2013 5:58:07 AM EDT
Originally Posted By DMWalking:
Originally Posted By 2000Z3M:
Do you own the house or do you rent? Also how old are you? Congrats!!!

Wife and I are looking to do the same thing in a few years if she get this new job.


Currently, I don't own a home, but those are in my Near Future plans after I fix my credit.  I will have a substantial Down Payment when I do get one.  I'm 27 almost 28.  I've made many dumb mistakes in my past with my money or other peoples money.  I've ruined my credit, got caught up in credit card debt, even payday loans.  It finally got to a point to where I said enough is enough and decided that I wouldn't be "One of those Americans" with substantial debt.  

By no means am I rich, but I must learn how to live within my means.  I still owe $8 grand and I still have a very low number in my savings, but I'm turning this around.


:beer:
Link Posted: 4/24/2013 6:36:09 AM EDT
my wife and I are doing the same...with my new job I have free housing, the minute we sell our house we are debt free.
Link Posted: 4/24/2013 6:45:26 AM EDT
[Last Edit: 4/24/2013 6:47:15 AM EDT by MajorAR]
Single, 40yr old.

I just got debt free the 1st of this month.  No car payment or etc.   3 months ago I had $18K on my credit card.  All gone!

ETA:  Hang in there OP.....stay focused!
Link Posted: 4/24/2013 6:50:19 AM EDT

I came up with my "debt snowball" plan this year. I have a lot of debt, shitload of student loans for medical school, my house debt wasn't too bad until I got divorced and had to refinance to pay her off, etc. I'm looking at 10 years.

Anyway, congrats to you, OP for a job well done! Start saving for retirement now, that's another mistake I made....

Link Posted: 4/24/2013 7:01:33 AM EDT
Nothing wrong with debt per se.  It's a question of how much you have and what you used it for. Using other people's money to further your financail goals can be a perfectly reasonable thing to do.
Link Posted: 4/24/2013 7:04:26 AM EDT
Originally Posted By DMWalking:
In 316 days I will be 100% debt free.  No car Loans....No Home Loans..no Student Loans...Nothing.  

I'm looking forward to this day.  Shoot, I'm excited for this day.



Congrats. I'm almost there myself, maybe another six months. Being free will be nice.
Link Posted: 4/24/2013 7:10:26 AM EDT
Keep up the good work, the feeling is indeed liberating!

Brian
Link Posted: 4/24/2013 7:12:01 AM EDT
Congratulations!  

I'm working towards that too, but I don't have a firm date yet.
Link Posted: 4/24/2013 7:26:53 AM EDT
Originally Posted By Ameshawki:
Nothing wrong with debt per se.  It's a question of how much you have and what you used it for. Using other people's money to further your financail goals can be a perfectly reasonable thing to do.


Agreed if one does it responsibly.  The issue that many run into early on is not knowing how to be responsible when taking on debt.

I'm on track to transfer all of my CC debt to 0% this year.  Once that happens, I'll just have my student loan to take care of.

Congrats, OP!
Link Posted: 4/24/2013 7:32:33 AM EDT
Hopefully I'll be there in less than 20 years
Link Posted: 4/24/2013 7:41:12 AM EDT
Im about 14 years away...  just a house and truck paymen for me..  im sure the sammich maker will want a new ride or two that will set me back but we are still fairly young.
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