I just wrote my last check to Bank of America to get it down to a zero balance! This has been a 2 year goal for me. I had never been in debt, ever. After my ex left I was actually fairly surprised at how well I cold budget and manage everything on my own, but at the time he left I had to buy a new car, because my Volvo died...sad. A year later was managing fine when my espresso machine blew up, very sad. Needless to say going threw a recent divorce I didn't have an extra $10,000 lying around so I charged it, and took on the hideous 11% interest rate. Having a son approaching college in less than a couple years it was very important for me to have everything paid off (as a side note BEFORE getting divorced think about putting in your papers an agreement to what each parent will contribute to an educational savings account, I might be finding out the hard way that sometimes the other parent doesn't want or can't contribute).
I added up the interest in the first year I had paid and was fairly sick to my stomach over it, it quickly became a goal to make the max payment I could afford each month in order to get it paid off. I have two trips that were booked months ago that are entirely paid off, and my only debt is now the mortgage on my house! I knew I would get to this good place. I knew it wouldn't be as fast as I liked, but I knew I would get there! Cheers!
2 comments:
Congrats! That is truly awesome!!
Thanks Kristen! Felt like a huge accomplishment!
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