omg omg omg omg omg

[EagleCowboy]

Congrats!

Welcome to the club of living 100% debt free for life!
It can be done because I'm one of many that's doing it!

 

[D_Martin van Burden]

Thanks peoples!

My next goal is to... well, I guess I'll split between savings and payments on my student loans. I have a consolidated package of loans from my undergraduate years that I need to pay down. Since my credit card payments averaged about $400 a month, I think 2 and 2 either way will work out nice.

What do you think? Is splitting ok? Or should I do one or the other? What do y'all think?

 

[Hoss]

Thanks peoples!

My next goal is to... well, I guess I'll split between savings and payments on my student loans. I have a consolidated package of loans from my undergraduate years that I need to pay down. Since my credit card payments averaged about $400 a month, I think 2 and 2 either way will work out nice.

What do you think? Is splitting ok? Or should I do one or the other? What do y'all think?

Splitting them is good, build a nice nest egg/rainy day fund and whittle down the student loan.

 

[spoon]

Cangrats!

 

[D_Harry_Pitz]

Well done!

In Belgium we are often surprised about how Americans go about their finances.
When we hear things like a payement plan for a tv or a car, or a second mortgage, our minds are blown. I'm not sure, but I believe a second mortgage on the same house is forbidden in Europe.
When we buy a car, we pay it instantly, no payement plan. If we can't afford the car, we buy a cheaper one.
Also, most Belgians that buy a house, have 1/2 or 2/3 of the money in cash on their savings account so they only have to take a loan for up to 50% of the money.
The way we see it is that you cannot spend money you don't have. Whatever you borrow, you have to pay back some time.
Before the 2008 crash, (Belgian) economists used to say Belgians save too much, and don't spend enough which is bad for the GDP etc. After '08 it was a whole different story.

 

[Sirramm]

CONGRATS!!! Now that they are paid off be sure to make SMALL purchases every other month and pay it off IMMEDIATELY! My finacial advisor told me to this and it has increased my credit score like crazy.

One thing NOT to do is CLOSE the account(s)!!! Finance companies are now looking at this as a BAD thing...not sure why but it is now THEIR world and they make the rules as they go...maybe someone here from the inside can explain.

I like the idea of freezing them...now to convince my GF!!!!!!!! UGH!!!!!!

 

[Intrigue]

Grats! I'm no where near that.

 

[xtop]

Awesome!

 

[ManofThunder]

Well done, sir. Congratulations.

 

[deleted3782]

Credit cards scare the crap out of me. They always have. Congrats on joining the zero balance club.

 

[D_Sam Rockswell]

Congrats i wanna be like you when i grow up. (stupid student loans....grrr arrrggghh)

 

[D_Martin van Burden]

I feel your pain, Puckit. What I paid off in unsecured debt pales in comparison to the student loans I've racked up through school.

 

[NCbear]

Congratulations, Dee.

NCbear (who's just a tiny bit jealous :redface::biggrin1

 

[camper joe]

I use my credit card for almost ever purchase I make. I find it much easy than carrying cash. The trick is I always pay the monthly balance in full. I learned many years go, that a bargain only a bargain if and when you can afford it. Buying something on sale them making small payments on it till finally is yours, will put you in the poor house shortly. Congrats on getting out from under.

 

[atlclgurl]

Whoever heard of a credit card with no theft protection?

Theft protection does not stop them from initially charging on the card. Especially if they've broken into your house hours before you discover the theft.

For instance in my case, the damn chicken was damn near defrosted when I got home from work, which means that whoever broke into my house had done so many hours earlier...

Which is more than enough time to go out and make all sorts of charges, ALL of which I would have had to dispute, report, etc... Total pain in the ass.

Plus, most cards still make you responsible for the first 50 bucks of even those fraudulent charges. If you had 4 cards frozen, you're on the hook for 200 bucks!

No freezing cards for me... you are, of course, free to do as you see fit.

 

[D_Sam Rockswell]

I feel your pain, Puckit. What I paid off in unsecured debt pales in comparison to the student loans I've racked up through school.

Yeah, right there with you. Sucks that after you climb one mountain your greeted with Everest. All in a lifes work i guess.