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    #31
    Credit card paid off!

    Good morning everyone,

    I just paid off my credit card in full!

    I miscalculated my numbers by about $37, so I had $1689.87 to throw at the $4617 balance on my personal loan. The remaining balance on that now is $2927.47.

    My DH has to work late some days, so he didn't get home until late last night and we didn't get a chance to talk. I will talk to him about it this weekend. I've been thinking about it, and with your input (about interest savings, and then being able to put that money to better use), I'm sure he will go for it. I'll present him with a plan, and I doubt he will have a problem moving forward.

    I wanted to say thank you to everyone for the encouragement and guidance. It feels really good to not have that $1943 looming over my head. Next is pay off that $2927 and owe my DH instead.

    I will update as needed.

    Thank you again!

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      #32
      Originally posted by cdorfish View Post
      I just paid off my credit card in full!
      Great Job. You are a superhero!

      Comment


        #33
        :d :d

        I PAID OFF MY CREDIT CARD AND MY PERSONAL LOAN!

        To recap, at the beginning of April, these were my balances --
        Credit Card
        Balance: $1,943.59
        Interest Rate: 14.36%

        Personal Loan
        Balance: $4,617.34 (started at $6352.40)
        Interest Rate: 14.74%

        I owe nothing to Wells Fargo and I owe nothing to my DH (he did help me out as was discussed in this post). I could not be happier!

        Thank you to everyone here who motivated me to make it a priority instead of something that I just had to live with.

        Now onto tackle my student loan debt!

        Comment


          #34
          Originally posted by cdorfish View Post
          i paid off my credit card and my personal loan!

          To recap, at the beginning of april, these were my balances --
          credit card
          balance: $1,943.59
          interest rate: 14.36%

          personal loan
          balance: $4,617.34 (started at $6352.40)
          interest rate: 14.74%

          i owe nothing to wells fargo and i owe nothing to my dh (he did help me out as was discussed in this post). I could not be happier!

          Thank you to everyone here who motivated me to make it a priority instead of something that i just had to live with.

          Now onto tackle my student loan debt!
          great job!!!! Congratulations!
          james.c.hendrickson@gmail.com
          202.468.6043

          Comment


            #35
            [cut]
            Last edited by Nutria; 06-27-2018, 01:48 PM.

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              #36
              Originally posted by Benderz View Post
              Maybe I'm old fashioned but "from this day forward, for better, for worse, for richer, for poorer, in sickness and in health" The only good thing about keeping things separate in a marriage is it makes the divorce accounting easier
              Make a record of each person's assets and debts at the time of marriage. Put it in a safe deposit box or something, so you don't lose it.

              Comment


                #37
                Originally posted by Nutria View Post
                Make a record of each person's assets and debts at the time of marriage. Put it in a safe deposit box or something, so you don't lose it.
                That's a very good advice Nutria. This will make things easier if something inevitable happens. Assets must be sorted out. Ones that you purchased before marriage and the conjugal properties.

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                  #38
                  Originally posted by chestynuts View Post
                  That's a very good advice Nutria. This will make things easier if something inevitable happens. Assets must be sorted out. Ones that you purchased before marriage and the conjugal properties.
                  Of course... you've got to keep them separate if you want them back.

                  If mixed, it's got to be obvious and simple to get it back. For example, $50K from an account of yours that was never co-mingled with community property could be used as part of a down payment on a community property house. (It would be a fight, though, to get more than the $50K back.)

                  Comment


                    #39
                    Well done paying off CC and personal loan. It's a big step forward and eliminates 14% interest. I suggest checking your options on Student Loan; is there a lower interest rate available on a personal Line of Credit or some other option? I too hope your very 1st DR step towards managing finance was establishing the all important $ 1,000. Emergency Fund.

                    Finally, I have no idea of your employment, but if your employer offers any type of retirement plan that offers matching employer contribution I hope you'll get the details and post them here. This is free money and even more important the sums established in your early years get to compound for the longest period...perhaps 35 years.. That's how people turn into 'The Millionaire Next Door' with very little effort.

                    Comment


                      #40
                      Originally posted by Benderz View Post
                      Maybe I'm old fashioned but "from this day forward, for better, for worse, for richer, for poorer, in sickness and in health" The only good thing about keeping things separate in a marriage is it makes the divorce accounting easier
                      I am curious how you know what vows these strangers made at their wedding.

                      Comment


                        #41
                        congratulations on paying off CC and personal loan hopefully the motivation will help you stay on track with student loans.

                        It is clear many people here have strong opinions on how OTHERS chose to do their finances. I have personally seen more people have serious issues co-mingling their money then keeping separate accounts. I am NOT just referring to divorce etc.
                        If it works for OP, as it does for many other couples. It is their choice it makes zero reflection on their marriage.

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