Thread: Im finished, its over with, Im done

Now that I have your attention....


Today, I took one more step of my journey of climbing and reaching the top, making it over and heading down the mountain of debt. I walked into the bank today asked for the pay off on my Grand Prix and wrote a check and paid it completely off nearly seven months early.


I have one more payoff to make and I will finally be able to declare myself debt free. Its been roughly an 18 month journey but I am nearly there and will finally be able to work more diligently to financial freedom. Ive worked on a two pronged approach since this undertaking and we have been able to tuck a bit of money away, so that in the event the job situation changes we wont be totally in the trash and Im still working on that as well so that we will have a few months cushion financially.


Either by the end of next month or around the first of April I should be able to post a follow up and say we are debt free.


Im also kicking off the Grand Prix rebuild too and will start ordering parts and stuff that I need to complete all that out and hope to have it ready for Branson this year.

nice job! now dont get into debt again!! lol

I have no plans to. Once I have our savings account built up to handle a few month of living expenses, I'll be able to then move more heavily to investments and dumping more into 401k and so forth. And with that we'll be able to dump our bonuses and raises into funds that we dont necessarily have immediate access to as you would with a checking account but will be able to take money out for vacations and major purchases and so forth.

Im finished, its over with, Im done

Seriously glad to hear that Scotty! Can't wait for you to get that mean green machine back on the road.

Originally Posted by TDCRacing

You must have been talking with Dave Ramsey. I have the book. And it's a good one. LOL

You must have been talking with Dave Ramsey. I have the book. And it's a good one. LOL

Well I only started taking his course about three weeks ago. My goal up to that point was just to get debt free, but now having started taking his course (its 13 weeks long) I now know how to structure the rest of our finances with regards to savings and so forth. But prior to that I had only heard of him in name. When our church offered his course I figured it was time to get a little more educated on what to do with the extra money when we had the debt paid off. And I can tell you that guy is just plain smart and uses a great deal of common sense. Once we get our two emergency funds fully funded (the first one already is) it will be a relief knowing that I have a buffer between me and my family and an economic/financial down turns.

Originally Posted by boosted97coupe

Congrats man, Being debt free is a great feeling that I won't know again for about 25 years (my mortgage). Take it from me though, I wouldn't put one extra dime into 401K right now! I've lost 10K from mine over the past 8 months!

Well as soon as the markets turned south, I moved my 401k into safer investments so I lost very little at the start and Im still making a little money right now. Its not much, but its something.

With regards to the house, thats one thing we are planning on getting this year. But Im going to save as long as I can. As long as the housing market is depressed Im going to hold off as I see more and more houses in our area just sitting on the market going unsold, so some deals are out there already and I refuse to do a loan for anything longer than 15 years if that long.

Im also going to at least wait until I finish Dave Ramsey's course to see what he has to say about house buying. I certainly dont want to have done all this work to get debt free and the do something stupid with buying a house.

Originally Posted by Abrasive

Seriously glad to hear that Scotty! Can't wait for you to get that mean green machine back on the road.

Me either, that has been one exciting point to all this, being able to finally get started on the rebuild.

Must feel nice to be almost out of debt.
I will never be out of it.
I will never be able to live in a better place ( im stuck in this **** hole)
I will never be able to drive a better car.
I will never be able to even have something set a side for an emergency.
I dont know if i will ever have a 401K i am 26 and still dont have one yet my place of work matches 100% up to 4%

I have thought about bankruptcy but from what i read and heard i still have to pay it all back and it is worse then not paying my other bills as i am doing right now.

I owe IRS prob around 7k still
State of oklahoma 5-6k
Credit cards 10-15k depending on interest now.
An a 20k Loan that i am making on this house which when i am done payign it back be damn near 100k

Originally Posted by TDCRacing

I am working on the emergency fund also. It's the key I think. I'm glad someone else listens to him and i'm not the only one.

I got the first emergency fund taken care of and am working on the 3 - 6 month one. I wish everyone would grasp the importance of that first emergency fund, it is truly key.

When we did the zero budget I was amazed to find out how much we could have really been saving all along if we had just been more mindful of where we were just blowing money on things. I assure you, we will be sitting down at the beginning of every month and having our budget meeting and going through it line by line.

Originally Posted by Toofastgs

Must feel nice to be almost out of debt.
I will never be out of it.
I will never be able to live in a better place ( im stuck in this **** hole)
I will never be able to drive a better car.
I will never be able to even have something set a side for an emergency.
I dont know if i will ever have a 401K i am 26 and still dont have one yet my place of work matches 100% up to 4%

I have thought about bankruptcy but from what i read and heard i still have to pay it all back and it is worse then not paying my other bills as i am doing right now.

I owe IRS prob around 7k still
State of oklahoma 5-6k
Credit cards 10-15k depending on interest now.
An a 20k Loan that i am making on this house which when i am done payign it back be damn near 100k

You are a true candidate for Dave Ramsey's course. You need to seriously consider getting it. Once you learn how to manage your money the way he shows you, you wont be so negative about your financial future. I didnt owe quite as much as you do, but we got it down to where we are now in just about 18 months.

And here I thought GTPJOE got to you

Mucho congrats on the accomplishment. Now if you can just funnel some of that new "extra" money my way.........I think we can call it even

Originally Posted by TDCRacing

That is awesome. I just payed off around 4000 dollars in Credit Card debt with my tax return.

Good for you TD!

I just shaved my loan in half on the Tranny loan I had to take out........only a couple more thousand to go to pay off other bills, my GTX wont be paid off for a another couple years at least. Once I get my CC bills cleared up, I have to tackle my student loan debt. Then I am on the path Zen........or is that.......Syn

Congrats and if your not in debt and not even close to it would you recomend this guys program? To just earn some extra cash?

congtats Scotty! wish I could say that, still got another five on the books.