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We finally did it...debt is all paid off!

August 16th, 2009 at 02:43 pm

Debt Tracker (08/14/09)
$0.00

Well we did it! We received a bonus deposit of $5000 on Friday and cleared the last $3815.04 from our debt. We are now debt free minus our mortgage! It's been a long battle between us and our debt load (which ended up being $117.5k) but we have finally climbed to the top of the mountain.

It's really nice to know that all of our income will be ours to keep. We're going to be able to pay cash on Weds for our son to go to Spain with his class a full three months before the payment is actually due. We paid cash and bought a patio table for our back patio (we had lost three due to wind) and this one has a heavy custom stone top so it'll be plenty heavy for the hilltop winds. We'll also be able to cash flow our daughter's college education starting next fall AND our son's in a couple of years. We are so excited!

All I can say is to anyone who is frustrated with debt just get on a budget and keep the faith! You can do this. If we can do it anyone can. Trust me on that. Smile

WOO HOO!!!

This is the end of the debt reduction tracker! Not sorry to see it go at all.

24 Responses to “We finally did it...debt is all paid off!”

  1. ceejay74 Says:

    Yay!!! You guys did great. It's great to know you'll be able to afford all these great things after staying on the straight and narrow for so long. Congratulations!! Definitely an inspiration to me even though my debt-free future is years and years away...

  2. frugaltexan75 Says:

    Congratulations! Woo Hoo! Go Debt free! Go Debt free!

  3. Apprentice Bliss Hunter Says:

    Congratulations ! Wow ! Great job !

  4. creditcardfree Says:

    Congratulations, you guys!!! I'm ~~~~Happy Dancing~~~~ with you!!! And you are right...ANYONE can pay off all their debt. You and your wife are proof.

  5. KellyB Says:

    CONGRATULATIONS!! What an amazing debt payoff journey you have had! You are certainly an inspiration to all, and look at how much fun you will have now turning that debt money toward cash flowing your bills and goals as they come in now. Good for you and your family. GREAT JOB!

  6. crazyliblady Says:

    I have been reading through your old blogs. You have had a really wild ride getting all your credit cards paid off. Congratulations. How did you figure out how much you could put towards your debt? I have two medical debts of $758 and $1402 and a credit card debt of $1485. My minimum payment on the credit card is only about $50, but I am usually pay $150-$200 (in chunks throughout the month) and have gotten it down slowly from $2000. My minimums on the other two are $75.00 and $20.00 with no interest. I am throwing all kinds of extra money, like survey money, spare change, etc., but it seems like it is taking forever. I am doing this on one income. Any advice?

  7. fern Says:

    Your original debt was $117K???

    Any general words of advice for others? I'm just curious if you used any special strategies other than trying to pay as much as possible.

    (I suppose i could stop being lazy and read your old posts, too.)

    But that's quite an accomplishment....can you sum up how you did it?

  8. campfrugal Says:

    That is so awesome. Please give us a brief or not so brief synopsis.

  9. lizajane Says:

    I am unbelievably jealous!!!!!! I think my skin is even turning green! Congratulations! Smile Smile Smile

  10. NJDebbie Says:

    I told you I would do the happy dance for you and I am. Congrats you are no longer a slave to the lenders. Smile /

  11. sharmanl Says:

    Congratulations!!!

    I am so truly happy for you - You are finally FREE!

  12. cassandra Says:

    Congrats! That is wonderful news!

  13. dmontngrey Says:

    Wow! Congratulations on all your hard work! Great job!

  14. boomeyers Says:

    Well, I have followed you through, so I know how you did it. You had a LOT of debt, but you have a higher salary too. This not withstanding, you did had to cut the discretionary spending in order to pay this off and I know that wasn't that easy. Congrats! :-)

  15. baselle Says:

    Congratulations! Am I reading it right that you are closing this blog, or just the debt tracking piece? Remember that you always have a place here. Smile

  16. monkeymama Says:

    Congrats!!!!!!!!

  17. BuckhornGal Says:

    YOU ARE AMAZING - please keep giving us advice. We can learn from you. Great work! Congrats!

  18. Broken Arrow Says:

    Simply outstanding! Congratulations!

  19. shiela Says:

    Well done. COngrats.

  20. Ima saver Says:

    That is great! I am so happy for you!

  21. Analise Says:

    How exciting! Congratulations and keep on blogging, please... your story will help motivate others.

  22. MariRDH Says:

    Wow! CONGRATULATIONS!!! What a really great job you did and an amazing accomplishment. Bask in the glory! We all hope to meet you on the other side soon. Smile

  23. freeme journey Says:

    Well done - this gives hope to all of us. Enjoy the rewards. Smile

  24. terri77 Says:

    Congratulations!

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