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Cruisin' into 2012 debt free!

Last post Sun, Mar 18 2012 11:02 PM by tracyinmn. 7 replies.
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  • Wed, Jan 4 2012 12:45 AM

    Cruisin' into 2012 debt free!

    Allow me to crow a bit here.  I'M DEBT FREE!!!  Well, technicly I still have two mortgages (my house, and a rental duplex). But all my other consumer and personal debts are paid off. Which feels great because I have been getting crushed by them for over 5 years.  

     Yes, 5 years.  So I just want to throw out some encouragement to anyone out there who is trying to pay down their debts. Make a plan, stick with the plan and keep your eyes on the prize.  This is a marathon, not a sprint.  It took me nearly 5 years.  But it was worth it. You can do it too. go! go! go!

  • Wed, Jan 4 2012 8:30 AM In reply to

    • Brandy
    • Top 10 Contributor
    • Joined on Wed, Mar 28 2007
    • Saving in South Mississippi
    • Posts 25,145

    Re: Cruisin' into 2012 debt free!

    That is fantastic. Are you making extra payments to get rid of the mortgages?

    The Dollar Stretcher Community Manager



  • Wed, Jan 4 2012 8:39 AM In reply to

    • babs
    • Top 10 Contributor
      Female
    • Joined on Mon, Apr 2 2007
    • Vermont
    • Posts 10,988

    Re: Cruisin' into 2012 debt free!

    Wonderful, it can be done but it does take planning and patience, Babs
    Officially recognized Stretchpert in Prayer Circle
  • Wed, Jan 4 2012 10:03 AM In reply to

    • grame
    • Top 50 Contributor
      Female
    • Joined on Tue, Feb 22 2011
    • Kingdom of Callaway
    • Posts 1,950

    Re: Cruisin' into 2012 debt free!

     Love hearing about your success!

    I declare to you that woman must not depend upon the protection of man, but must be taught to protect herself, and there I take my stand. ~Susan B. Anthony
  • Wed, Jan 4 2012 4:18 PM In reply to

    Re: Cruisin' into 2012 debt free!

    Well, not yet. I'm still catching my breath. So to speak.  Monitary goal for this month is to get a budget in place for this year. If the budget allows, I'll make extra principle payments.

    AS for the mortgages: One is on the house that I bought just 1.5 years ago.  Sure, I should have waited to get out of debt first. But buying the house only put off the debt free party by one year. And at this point I would rather be in a house I own instead of making rent payments.  That, and the $8000.00 of help the Government was giving out at the time. There was this opportunity and I had to take it.

    As for the rental duplex. there have been extra payments in the past.  But I suspended them to get out of debt. At this point I'm looking at selling the property and using the proceeds to buy one up here in Portland. Extra payments would be pointless.  I will need the money for dawnpayments and closing costs.

    Brandy:

    That is fantastic. Are you making extra payments to get rid of the mortgages?

     

     

  • Sun, Jan 22 2012 12:06 PM In reply to

    Re: Cruisin' into 2012 debt free!

    Great Job!!! Smile

    I'm debt freeeee............ Beginnning debt balance 01/01/08 $78K /Paid in full on 08/06/10 GOD IS SO GOOD!!!
    Goal #2 : One year emergency fund. Goal Met Aug 2011.
    Goal #3: Paid 100% CASH for a house!!! GOD IS SOOO GOOD TO ME!!!
  • Tue, Mar 13 2012 5:30 AM In reply to

    Re: Cruisin' into 2012 debt free!

    It's so encouraging to hear success stories.  I'm chipping away at my debt every month, but it's a long process and it's easy to get distracted and fall back into old (bad) habits.  My plan on paper has me out of debt by January 2013.  Stories like yours make that goal seem achievable.

  • Sun, Mar 18 2012 11:02 PM In reply to

    Re: Cruisin' into 2012 debt free!

    Very encouraging. Thanks for sharing!
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