topic Re: Debt Free Finally in Relationships and Money

Debt Free Finally

Gmoney144 — Wed, 06 Apr 2022 17:43:01 GMT

So. for the first time in 22 years I'm debt free. I paid off Credit cards, student loans and a car loan Still have a mortgage so technically not debt free. It took an near life threatening injury to alter how I looked at finances. While recovering, I happen to browse these forums and 4 years ago I went to work to correct my financial status. First, I divided 15k in CC debt between 2 of my DW no interest CCs. Next I paid of my car in 2 years. Last, I paid off my student loan debt that was over 100k. It was not easy and there were minor setbacks but we persevered. Some things I would do differently at an early age? Take a personal finance course in college. I think it should be a requirement at a university. Attend a state or public university. I went to a private college and the juice is not worth the squeeze if one's majors in a non tech or science( as I did). Maximize your 401k matching fund and start a business. That is what Ive learned in the 4 years. Thanks to everyone for the great advice given.

Re: Debt Free Finally

pizzadude — Thu, 07 Apr 2022 14:35:07 GMT

Congrats on paying down your debts, great job !! Glad that you're in a much better place now financially and hopefully credit / FICO as well.

I also wish that I had learned more of what I know now when I was younger, it would have saved me a lot of headache, money and credit problems. But still thankful that I've worked through it, maybe I ended up learning more by going through all of those difficulties?

Congratulations!

IOBA — Thu, 07 Apr 2022 20:31:13 GMT

Weu weu! Debt free! Do the dance...you earned it.

Take steps to stay debt free & to save up for purchases.

Re: Debt Free Finally

PNWRambler — Thu, 07 Apr 2022 23:19:24 GMT

Congrats on being debt free!

Hindsight is always 20/20... But having made the mistakes and learned from them is far more effective than learning the concepts at a young age (although not necessarily recommended, hah).

Re: Debt Free Finally

lovebackwards — Sat, 09 Apr 2022 02:17:34 GMT

@Gmoney144 wrote:
So. for the first time in 22 years I'm debt free. I paid off Credit cards, student loans and a car loan Still have a mortgage so technically not debt free. It took an near life threatening injury to alter how I looked at finances. While recovering, I happen to browse these forums and 4 years ago I went to work to correct my financial status. First, I divided 15k in CC debt between 2 of my DW no interest CCs. Next I paid of my car in 2 years. Last, I paid off my student loan debt that was over 100k. It was not easy and there were minor setbacks but we persevered. Some things I would do differently at an early age? Take a personal finance course in college. I think it should be a requirement at a university. Attend a state or public university. I went to a private college and the juice is not worth the squeeze if one's majors in a non tech or science( as I did). Maximize your 401k matching fund and start a business. That is what Ive learned in the 4 years. Thanks to everyone for the great advice given.

Congrats on being debt free. Not an easy accomplishment, but you did it!

Re: Debt Free Finally

DesertWanderer — Sat, 16 Apr 2022 07:36:28 GMT

Congrats on your accomplishments! I agree that financial education classes should be offered to young people. My daughter's high school requires 10th graders to take a semester of financial literacy and a semester of entrepreneurship. I wish I would have had something like that when I was a teen!

Re: Debt Free Finally

babygirl1256 — Sat, 16 Apr 2022 07:43:10 GMT

Congrats on being debt free . . . that's awesome and I totally agree . . . Maximize your 401k matching fund and start a business.

Re: Debt Free Finally

FireMedic1 — Fri, 29 Apr 2022 09:55:31 GMT

Thats awesome! Congrats! Its rare but you earned it..................

lights(1).gif

Re: Debt Free Finally

TryItAgain — Wed, 18 May 2022 05:37:48 GMT

@DesertWanderer wrote:
Congrats on your accomplishments! I agree that financial education classes should be offered to young people. My daughter's high school requires 10th graders to take a semester of financial literacy and a semester of entrepreneurship. I wish I would have had something like that when I was a teen!

Grats on your huge accomplishment 👏!!

No doubt @DesertWanderer that financial literacy is something being sadly left out of most school curriculums.

My kids hated how hard I drilled them down into money management and credit. This all so they didn't hit the pitfalls I did. Now they are tickled with daddy with their 800 scores and nice availability at mid-late 20s.

MyFico should be required reading for like 40hrs lol.

Grats again OP!

Re: Debt Free Finally

righthererightnow — Sat, 18 Jun 2022 00:19:44 GMT

CONGRATS!!!!!

Re: Debt Free Finally

Anonymous — Sun, 17 Jul 2022 06:01:51 GMT

Congratulations @Gmoney144 . Well done. You are going to make people jealous.

Re: Debt Free Finally

Gmoney144 — Sun, 17 Jul 2022 08:17:11 GMT

Just giving other people here motivation. Being debt free is a load and stress I didn't realize I had. Never paying interest on Credit cards again!!

Re: Debt Free Finally

SouthJamaica — Tue, 26 Jul 2022 15:18:31 GMT

@Gmoney144 wrote:
So. for the first time in 22 years I'm debt free. I paid off Credit cards, student loans and a car loan Still have a mortgage so technically not debt free. It took an near life threatening injury to alter how I looked at finances. While recovering, I happen to browse these forums and 4 years ago I went to work to correct my financial status. First, I divided 15k in CC debt between 2 of my DW no interest CCs. Next I paid of my car in 2 years. Last, I paid off my student loan debt that was over 100k. It was not easy and there were minor setbacks but we persevered. Some things I would do differently at an early age? Take a personal finance course in college. I think it should be a requirement at a university. Attend a state or public university. I went to a private college and the juice is not worth the squeeze if one's majors in a non tech or science( as I did). Maximize your 401k matching fund and start a business. That is what Ive learned in the 4 years. Thanks to everyone for the great advice given.

Congratulations on achieving this milestone.

Next step is to get rid of that mortgage some day.

Re: Debt Free Finally

OniStringer — Thu, 28 Jul 2022 09:38:22 GMT

Man that's a good feeling to finally have. Been there once, its very nice!

Re: Debt Free Finally

teekay629 — Tue, 30 Aug 2022 05:45:43 GMT

Congratulations! This is huge and so worth it to have that feeling of freedom!