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Author Topic: Paid Off Another Debt  (Read 60 times)

Col. Craig

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Paid Off Another Debt
« on: November 09, 2017, 02:00:31 PM »

Usually this time of year our work is drying up and we have to scrounge really hard to get through Nov., Dec. and Jan.  Not this time, we have as much work right now as we usually have in the Spring rush.  We actually just paid off the balance on a credit card.  We only use a credit card for emergencies and that last time was a really steep repair on the truck.  We have been chipping away at that one for a while now.  What we do is take advantage of temporary low interest rates for a balance transfer.  By bouncing the debt around twice a year we can keep the short term interest down to zero to 2%.  The balance is low enough now that instead of making another transfer we paid it off.  That frees up $500/month to focus on other debt, which is also going down fast - even faster now.  :f
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Lew

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Re: Paid Off Another Debt
« Reply #1 on: November 09, 2017, 02:10:39 PM »

Must be a nice feeling. I hope to experience it in 2020.
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Col. Craig

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Re: Paid Off Another Debt
« Reply #2 on: November 09, 2017, 04:10:58 PM »

It feels like it takes forever but near the end it goes really fast.
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Aussie Bloke!

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Re: Paid Off Another Debt
« Reply #3 on: November 09, 2017, 07:10:03 PM »

G'day everyone,....


Congratulations mate!

Hope that trend keeps on rolling along.

May you piss off the banking elite by slipping free of their grasp and forever more run free,....

 O0



Aussie.
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Kenny Solomon

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Re: Paid Off Another Debt
« Reply #4 on: November 09, 2017, 08:21:04 PM »




One of the best personal accomplishment feelings was about three years ago - the day I paid off one of my two credit cards (from a five-figure balance - had no choice but to use it - the nursing home for mom and dad had to get paid somehow before teh gubminit got their schmitte straight in 2010).

That one still has a zero balance and the other card  doesn't have much of a balance on it - still zero interest for the next few months, so I kinda sorta don't really give a schmitte about that one yet - but am making 5x minimum payment amount, so the balance will disappear soon enough.


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Col. Craig

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Re: Paid Off Another Debt
« Reply #5 on: November 09, 2017, 08:48:52 PM »

Except for a mortgage we have been debt free a few times.  Sooner than later we will be debt free to include the mortgage.  On that day we will party!
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Barry in IN

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Re: Paid Off Another Debt
« Reply #6 on: November 09, 2017, 10:00:11 PM »

Congratulations.
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soot shooter

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Re: Paid Off Another Debt
« Reply #7 on: November 10, 2017, 05:02:03 PM »

We have an increase in income headed our way. Lori is 62. Her social security payments are now coming back. She applied this week. But wehave to plan on paying income tax on it too.
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