Life in Southeast Alaska

One Step Closer to Debt Free

Last Friday, I made the final payment on my credit card - PAID IN FULL! 

It has been less than two years since I really buckled down and started to focus on getting rid of my debt.  I started with nearly $20,000 in credit card debt, $10,000 owing on my truck - all of that is gone, plus I paid $4,000 to get the woodstove installed.  It is a great feeling to have that all gone, just the house left now.  I figure it will take 3 years to have the house paid off too.

I thought it would take forever to get the credit cards paid off, but once I got started, it just accelerated.  The biggest change I made was that I use cash.  Each payday, I take out spending money for food, gas, etc in cash.  This helps me from overspending - I don't use checks.  When I make a purchase, I use dollar bills, not my change.  I collect the change in a jar and when it builds up, I deposit it and make an extra credit card payment.  It is amazing how fast that can add up!  I pay bills on payday, so I don't have that money sitting there.  Any money left over went to the credit card.  Any extra money I got would go to the credit card.  Now I will save for purchases, not charge them.  I really think about buying stuff.  I've been motivated by other blogs here and use lots of money-saving tips I've learned here.  Thank you for that!!

If you've been thinking of getting rid of your debt - find a way to do it because it is such a great feeling to have it gone.  You can do it - where there is a will, there is a way!!

Untitled Comment

12:33 AM, Thursday, September 18, 2008 .. Posted by plantinthings

Congratulations on paying off those credit cards!! I know how you must feel and I do the same CASH or I dion't need it bad enough.

Untitled Comment

3:20 AM, Thursday, September 18, 2008 .. Posted by gokings13

HOOORAAAYYYY!!!
You my dear are wise beyond your years.
I pray God opens the floods gates and pours out a blessing so big, you can hardly receive it all!!
What you did is a HUGE accomplishment. Huge.
Way to go!!

Laura

CONGRATS!!!

3:44 AM, Thursday, September 18, 2008 .. Posted by Charis

You deserve a huge KUDOS! I have friends who are deeply in debt and I keep telling them you can get out. We have always paid cash for everything. Matter of fact I just got my first CC at age 46 just to use to boost my credit rating since so much is in my husband's name and if something happens to him here I sit with excellent but very little FICO score.

I hope you pass this message along to all that will listen because so many suffer from the shame and guilt of debt thinking there is no way out.

Untitled Comment

5:05 AM, Thursday, September 18, 2008 .. Posted by morningsunshine

you rock! may that mortgage go quickly! That is where we are as well. It is so nice to be able to pay cash big purchases instead of financing, and to not owe any man!

Untitled Comment

6:39 AM, Thursday, September 18, 2008 .. Posted by Erica

Way to go Michelle! That's awesome...

Untitled Comment

7:54 AM, Thursday, September 18, 2008 .. Posted by haflinger

Yippy!!!!!!!!!!!!!!Great job.. How is the craft fair going? I'm doing my first set up this weekend at an apple orchard..I'm exicited..
Brenda

congrats

7:57 AM, Thursday, September 18, 2008 .. Posted by

Congratulations! That is great news!

Melissa
www.ohthesoundofmusic.blogspot.com

Untitled Comment

8:38 AM, Thursday, September 18, 2008 .. Posted by Isabella

You did a great job! Isn't it a wonderful feeling. PTL! We are debt free except the house. We are working to get it paid off soon. God Bless. I

Untitled Comment

4:34 PM, Thursday, September 18, 2008 .. Posted by steffanie

Congratulations

Untitled Comment

8:50 PM, Thursday, September 18, 2008 .. Posted by gabbie427

YIPEEEEEEEEEE!!! Good for you!!! All that paid off in a few years??? You did a great job. And to have your house paid off in another 3??? How wonderful!!! Keep up the good work girl!

God's Blessings,
Amy Jo

Woohoo! WTG

11:48 AM, Saturday, October 4, 2008 .. Posted by Hisirishgem

We too were in WAY over our heads until we took Dave Ramsey's Financial Peace University Class.

Now we too only use cash, we have most of our bills paid and the other one is down to less than 800.00. We are making extra payments to the principal of our car loan to get that paid hopefully by next summer and plan to buy our first home in the spring or fall of next year.

I feel free from slavery of those credit companies. Now We're the boss of our money and where it goes. No more paying high interest, no more dealing with payments with excepetion to a mortgage and student loans.

Praise God for His lovingkindness! What an accomplishment you've made and Oh, how I bet your breathing a sigh of relief.

Blessings dear friend!

Rebekah