I just paid off a credit card!

[TiggerStac]

Ok... I think the title says it all!

I have been paying a little extra towards my debt each month. But I decided to put on paper who I owed what to and what the interest rate is. Owed $1172 on the card w/almost 28% interest. This way, hits me...no more payments at all on it! I will be looking at my other debt and paying off more this weekend. This was definately my highest interest rate, so it was a no brainer what one to pay off first.

I'm trying to look at things to maybe stay home w/my boys again....

I work for our fun (cars and vacation). If the debt is payed off...we can still have our fun and I can stay home with the kids. My goal, pay off everything except house and cars. I'm ok w/my school loan, too..would like that to go away, but that's not a deal breaker. We are still taking our trip while I'm paying down the debt, but no new cars for us for a while. If I didn't get the great deal that we got for April, believe me we wouldn't be going.

You guys have helped me soooo much w/the grocery shopping and eating using what I already have in our house. I have been using a lot of the croc pot receipes.

Thank you!!!!!

 

[8gr8mouseketeers]

Congratulations!! Feels great doesn't it?

 

[TiggerStac]

Congratulations!! Feels great doesn't it?

It feels soooo good!!!

 

[Pooki]

Yay!! It is so liberating!! I paid off a loan yesterday that had about 6 months left on it - it was my highest interest debt as well. Time to whittle the other ones down now!

 

[canadianjovigirl]

Congrats...it is an awesome feeling. We paid off all our debt other than our mortgage and now the trick is to not use the credit cards. I was so happy to make it thru Christmas and not pull out my card once...spent what i could afford and that was it. I am going to need a newer vehicle in spring, but will look for one with reasonable payments that i can pay off in a shorter length of time versus a new car with payments for 3-5 years.

I just went back to work in Jan 09 and love having the extra income, but still trying to stay in the savings mode and so far have succeeded, but it is hard not to spend spend spend since i know have an income we were not use to having. I did put alot into an emergency savings account which we never had in the past and the rest goes into another account and is used for fun money (like our 3 week Florida vacation we did in Nov 09). I will continue to use my income for fun stuff and also going to start on adding some to retirement...i just hope we can continue to live on hubby's wages and not add mine into monthly living money as it sure is nice to not have all the payments and stress of what we would do if something bad happened.

Good luck and keep paying off the debt, it is a lifestyle change, but a great one!!!

 

[Blue.Fairy2]

Congratulations!!!!

 

[eyor44]

Congratulations! Wonderful accomplishment.

 

[gillenkl]

great job!

 

[bumbershoot]

Congrats!

If you haven't already, you should check out llnoe.com (livinglikenooneelse), it's a message board about the Dave Ramsey system of getting out of debt, which is almost exactly what you're already doing (though he suggests paying things off in order of the lowest total first, not interest-based, to get "quick wins" to keep the motivation going).

 

[thebeesknees]

Good for you! It must feel so good to have that taken care of, and now that you've gotten the momentum going, you should have those other ones paid off soon, too!

 

[charming23]

Congrats!!!!!! It feels so good when you pay off a debt not matter how big or small.