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First cool debt free expense

August 24th, 2009 at 12:17 pm

I just wanted to share the first cool thing we were able to do after clearing all of our non-mortgage debt. We were able to pay cash (well..debit card from our checking account) for our son (turns 16 tomorrow) to trek out of the USA to Europe in April with his classmates through a school trip. They'll be over there for 11 days total and the balance is due in full by December 19th. Well we've paid nearly $2000 out of the $3000 it cost already ($1750 of that $2000 in the last 4 days) and we'll be able to pay the remaining balance in full on September 2nd without batting an eye. A full three months + before the balance is due!

The best part is having the cash to do it instead of going into debt to do it. I can remember a time when that $1750 was going to minimum payments on credit cards. No more! Now it goes to things we WANT to do instead of obligations we HAVE to do. Yippie!

So for anyone mired in debt and wondering if it's worth the effort and sacrifice to bulldoze your way out...I can say absolutely! You can pay for a trip without paying more than the trip costs in credit card interest and fees. Smile

8 Responses to “First cool debt free expense”

  1. KellyB Says:

    Absolutely fantastic. How good does that feel?!?!?! What a great opportunity for your son.

  2. Joan.of.the.Arch Says:

    Sounds like you must feel really FREE and ABLE now. Good going! (Personally, I would have put the travel expenses on credit card to get my 1%-3% rebate. BUt I'd then pay it as soon as due. Smile )

  3. Maismom Says:

    Congratulations!! It must feel really nice to be able to pay cash instead of charging : )

  4. I-78 Commute Says:

    Thanks guys! Joan our debit card Visa is enrolled in Visa Extras with no annual fee so we're able to earn points when using the debit card. Smile

  5. whitestripe Says:

    well done! although i must say, i have a personal loan and a mortgage, and can still do those things.

  6. NJDebbie Says:

    Wow, I can almost visualize your excitement! Good for you.

  7. I-78 Commute Says:

    stripe I gotcha! We do still have a mortgage (we are debt free minus the house) but we're able to put all of that money we were throwing on credit cards to stuff we want to do rather than we had to do (and the best part is no interest!) Smile

  8. Ima saver Says:

    Good for you, that is great!

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