Tuesday, December 10, 2019

Paid Off

So last week we hit at least one more of the goals I had set for us for the year:  we paid off the last of our consumer debt.

This was a rather long time coming - longer that it should have been, really.  We at one time had them all paid off and then I made the rather foolish decision of going with The Firm.  That did not make us have to go into debt of course, but it did create the environment where it was very easy to do so.  And so, 15 years or so later, we are finally back to an even keel.

We benefited from a bit of luck - options I had received at my current company were worth something, and so I sold.  And now, for the first time in 15 years, we are not making the banks rich.

To tell you truth, I did not think we would be able to pay everything off this year.

This opens up all kinds of possibilities, of course:  money that was paying debt can now go to savings or investing (or spending - I cannot be foolish enough to pretend that everything will go to the first two).  But for the first time in a long time, I can breathe again - and actually have some confidence that in the event of an actual emergency, we can be in a position where the debt is not hanging over our head like an anvil and we can actually live on a lot less.

It is a good feeling.


  1. Congratulations, TB. That is wonderful!
    Praise God. :-)

  2. Isn't that great, TB?

    Congratulations. That is something to celebrate.

  3. I used to have "consumer debt." I paid off the credit card when the bank raised my rate from 9% to 18% over night in 2008, their excuse being "Other people are defaulting on their debt, so we're punishing YOU." My profit sharing check that year matched what I owed to within a dollar, so I mailed it off to the bank along with a photo of my middle finger. My house is my only debt now, and that payment gets an extra $200.00/month in the "additional principal" column. My garage hasn't seen a new car since 1985. My last used car payment was postmarked April, 2014.

    ...Not having to kiss a bank's ring is one of the most underrated triumphs on Earth... Telling a bank what IT can kiss is worth its weight in gold!

  4. That's huge, Congratulations! I know it must feel like a fresh start. :)

  5. Thank you Linda - and yes, praise God indeed. Without the unexpected boost from out of the blue, it would have been years longer.

  6. It does feel good Glen. Such a weight off of our shoulders.

  7. Pete, that is a pretty funny (and accurate story). And this was the logic I used in rationalizing my own sale: I can maybe not get quite what I could get in selling the stock now, but I will not be putting anymore money in the bank's pocket by doing it - we can put it in our own pocket instead.

    Now, we are working on the house as well, as well as more extensive savings.

  8. Thank you Leigh! Hopefully the first of many fresh starts in the next few years.


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