Debt Free!!!

[white trash wagon]

I got rid of all my debt & car payments when I divorced my then wife. I do pay all my days to day expenses with a credit card & pay it off every month.

[quikag]

Fwiw, A = L + E, ladies. If you have an asset worth more than its associated liability, you have an equity position.

Or E = A - L to more clearly illustrate your point.

[AdRock]

Congrats man. It's a great feeling.

The wife and I paid our cars of in 07 and 08 before we got married and we have about 80k left on the house. That's the only debt we have and I can't wait until that one is paid off.

[sosoe]

Nice, I plan to be debt free right before summer starts!

[KBScobravert]

It is a nice feeling. Now make it last. I was there but a few things got charged over the past two months that we had the cash to buy but the cash cushion is worth the little bit of interest on the card........for right now.

[OreoStang]

Congrats Brooks.

[sc281]

Good stuff brotha! It's a great feeling. No debt but the house, and that'll be paid off in 4 years.

There is a reason rich people are rich, and it ain't cause they make payments.

Slow is absolutely right on the 0%. If I had a chance to borrow a lot at 0, I'd take it in a heartbeat. Invest that in cd's or some safe bonds and pocket the spread .

[quikag]

Slow is absolutely right on the 0%. If I had a chance to borrow a lot at 0, I'd take it in a heartbeat. Invest that in cd's or some safe bonds and pocket the spread .

Yeah, but the spread nowadays is about nil. I pay cash typically because I don't want to give the sales monkeys my personal info. Plus, making payments sucks even if it's 0% interest.

[sc281]

Yeah, but the spread nowadays is about nil. I pay cash typically because I don't want to give the sales monkeys my personal info. Plus, making payments sucks even if it's 0% interest.

Believe me, I know how shitty the rates are. Luckily I don't have a bunch of free money to invest, so I don't have to worry too much about it.

As for buying stuff and daily bills, I just put it on my chase or discover cc, whichever has better cash back at the time. They are set to autopay from my acct, and I don't care if merchants have my cc info. Good rewards each year that way.

[UserX]

Congrats, it's a great feeling! I'm currently 100% debt free, with 2 years gross salary in the bank. That will soon change when I buy a house in CA.

[slow99]

Or E = A - L to more clearly illustrate your point.

Fair point. I should never assume that members on here could perform basic math functions.

Yeah, but the spread nowadays is about nil. I pay cash typically because I don't want to give the sales monkeys my personal info. Plus, making payments sucks even if it's 0% interest.

Now you're discussing personal preference.


Oh, somebody pay off my student loans, lol!

[racrguy]

Fair point. I should never assume that members on here could perform basic math functions.

That's a mighty generous assumption there.

Congrats Brooks!

[71chevellejohn]

Sweet! Now you can get yourself one of those On3 kits you've been wanting!

j/k

[turbostang]

Thanks guys!!

Bieng down to what I'd consider necessary evils such as a "house payment" and a "car payment" were huge goals for me for the end of 2011 and 2012. Eventually I'd like to be sans car payment, and the house is a bit further on down the road - I have plans on a bigger place on land in the near future.

What are some of your saving strategies to pad the bank account?

Sweet! Now you can get yourself one of those On3 kits you've been wanting!

j/k

I was trying think of something quick and whitty to say, but I fail.

[Cooter]

congrats Brooks

I've got $15k left on my house, about $8k on my truck, and we put about $7k on a 0% card for all our appliances.

if this year keeps going good and I have enough cushion after the fact, I just may achieve zero debt this year.

Then I'll use the house as collateral on a loan to build my dream house LOL