topic Re: I'm debt free..sort of in Credit Cards

I'm debt free..sort of

bakalao2k — Tue, 24 Aug 2010 18:17:56 GMT

I'm debt free as of today. I just paid off a $2000 balance on my US Bank Platinum credit card. The largest amount of debt I've ever owed totaled around $42K in the summer of 2007. During that time, BofA dropped my credit line from $12700 to $1500. I worked very hard over the last three years to pay off my credit card debt. I still have small balances on a few cards, but they will be paid off this month.

I have a decent emergency fund in the bank and I'm not sure what to do next with my money. Maybe it is time to start investing.

Re: I'm debt free..sort of

score_building — Tue, 24 Aug 2010 18:28:51 GMT

That's phenomenal, really nice work...time to start investing wisely, hope to join you there soon!!

Re: I'm debt free..sort of

MarineVietVet — Tue, 24 Aug 2010 18:31:04 GMT

That's great to hear. I also hope to join you there in a few years.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

Re: I'm debt free..sort of

REgnlor — Tue, 24 Aug 2010 19:51:53 GMT

Fabulous job! I'm sure it was a lot of determination but; mission accomplished!!!

Re: I'm debt free..sort of

techman2008 — Wed, 25 Aug 2010 00:55:28 GMT

My congrats. I know how that is. I was debt free from credit cards and school loans a few years ago and it felt great.

Re: I'm debt free..sort of

score_building — Wed, 25 Aug 2010 01:11:19 GMT

@techman2008 wrote:
My congrats. I know how that is. I was debt free from credit cards and school loans a few years ago and it felt great.

I imagine it still does

Keep it up!

Re: I'm debt free..sort of

haulingthescoreup — Wed, 25 Aug 2010 17:08:30 GMT

@bakalao2k wrote:
I'm debt free as of today. I just paid off a $2000 balance on my US Bank Platinum credit card. The largest amount of debt I've ever owed totaled around $42K in the summer of 2007. During that time, BofA dropped my credit line from $12700 to $1500. I worked very hard over the last three years to pay off my credit card debt. I still have small balances on a few cards, but they will be paid off this month.

I have a decent emergency fund in the bank and I'm not sure what to do next with my money. Maybe it is time to start investing.

Great job! Welcome to the rest of your life.

Re: I'm debt free..sort of

MidnightVoice — Wed, 25 Aug 2010 17:53:15 GMT

Congrats. Start a retirement fund?

Re: I'm debt free..sort of

bakalao2k — Wed, 25 Aug 2010 18:09:53 GMT

@MidnightVoice wrote:
Congrats. Start a retirement fund?

I already have a 401(k) thru work. I'm looking into opening up a Roth IRA very soon.

Re: I'm debt free..sort of

Anonymous — Wed, 25 Aug 2010 22:22:48 GMT

Thank you for sharing your great work. Congratulations! Save as much you can for rainy days.

I do not have any retirement plan nor savings. I am trying to set a side as much as I can even with $1/mo for my cremation and my ashes to the ocean. I hope I can save enough, then my children (two) does not need to pay for it.

Re: I'm debt free..sort of

Anonymous — Wed, 25 Aug 2010 22:38:45 GMT

@Anonymous wrote:
Thank you for sharing your great work. Congratulations! Save as much you can for rainy days.
I do not have any retirement plan nor savings. I am trying to set a side as much as I can even with $1/mo for my cremation and my ashes to the ocean. I hope I can save enough, then my children (two) does not need to pay for it.

Totally off subject, but you don't need to save for death. Just buy some life insurance. Then you won't have to worry about your kids paying. Its really cheap to get if you in good health.