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| General Discussion Please read our Forum Rules before posting Feel free to talk about anything and everything about money. |
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02-07-2011, 05:08 AM
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Family and I are DEBT FREE! WAHOO!
I just made the final payments to our credit cards tonight to announce my family and I are now debt free!
I'll share my testimony by giving you guys our backgrounds, pre debt spending habits, when we chose to conquer debt and which books/resources we chose to use. Both my wife and I are in our mid to post 20's. I'm 28 and she's 25. We live in Kodiak, Alaska whaaaa... Alaska? Yeap, Alaska! For those who don't know the cost of living in Kodiak is extremely high. I would probably rate it as high as living in Hawaii or in New York, New York. Examples: 1 gallon of unleaded gas as of right now is $4.09 and the cost of 1 pound of Roma Tomatoes is at $3.99. Okay now back to our backgrounds. We got married in early 2009 and I took the initiative that we both were on the same page on how we managed our finances i.e. no spending money unless we both agreed on it. She had no debt to bring into the marriage pre-wedding but I did. I had a little under $11,000 to bring into our marriage pre-wedding. Our wedding cost us about $800 out of our pocket and the rest was covered by our family. So that brought us to about a little under $12,000. Our spending habits for the first year wasn't healthy at all so we chose to buy a few books on Amazon.com and see what we could get out of them. Out of the few books we bought one book stood out the most and it was 'America's Cheapest Family' written by the Echonomides. We call that book our Bible for finances! It took a while getting use but once the ball got rolling we were able to pay off all of our debt in one year! Our truck loan's remaining balance of $3,800, my remaining student loan of $3,200, our credit card debt of $5,000ish and that was with a new born baby boy in the picture! So here's to us being DEBT FREE! CHEERS! Last edited by jeffrey : 02-07-2011 at 08:36 AM. Reason: forum rules 
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02-07-2011, 05:52 AM
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Congratulations!! It feels good doesn't it.
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02-07-2011, 09:19 AM
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How long would this have taken you had you not married, and not had your wife's income to put to the effort? Was it getting married that led you to decide to turn over a new leaf financially?
__________________
"There is some ontological doubt as to whether it may even be possible in principle to nail down these things in the universe we're given to study." --text msg from my kid http://kiva.org/invitedby/margaret2299 My octogenarian mother invites you to join her in making international micro-loans to alleviate poverty. It's cool!
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02-07-2011, 11:31 AM
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Quote:
Now that we're debt free it's now time to act like them ants and them owls! Dedication Responsibility Education Attitude Motivation ^^^Equation to achieving what ever you want!
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02-07-2011, 08:39 PM
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Wow that must have felt good brother I remember how depressed i was when i owed Capital One 15000$ on my Credit Card but I got a Debt Relief Program 3 years ago now i am debt free congrats.
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02-09-2011, 07:22 AM
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Well congratulations! Not only with being debt free, which is huge, but also with the new baby boy! Sounds like you've got on the right track now, keep up the good work!
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02-10-2011, 09:30 PM
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Congrats!! I can't wait till we are their with you!!
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02-15-2011, 04:03 PM
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Well, congratulations to you. It is actually quite hard maintaining only a few debts nowadays, but you are still lucky to be able to do it.
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02-19-2011, 04:55 AM
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Excellent, bravo brother!
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02-21-2011, 07:04 AM
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That is just awesome don't you think??! I believe so! And good job! I personally would love to be debt free. If there's a will there's a way. I and going to drag myself to be debt free too! Who knows?!
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02-21-2011, 08:15 AM
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Ahem, I would like to enhance that last statement a bit:
2hot dogs: $10. 2beers: $14. 2tickets to game: $70 [Can you really get such inexpensive tickets?] He did not do this by himself, so his mate gets to celebrate, too. 
__________________
"There is some ontological doubt as to whether it may even be possible in principle to nail down these things in the universe we're given to study." --text msg from my kid http://kiva.org/invitedby/margaret2299 My octogenarian mother invites you to join her in making international micro-loans to alleviate poverty. It's cool!
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Must feel awesome!
