The Money Mustache Community

General Discussion => Share Your Badassity => Topic started by: Pylon on June 23, 2015, 09:29:13 AM

Title: $20,000 down and can see the light at the end of the tunnel
Post by: Pylon on June 23, 2015, 09:29:13 AM: Hi, all! I am a rather new poster here, but have been lurking for several months.

My partner and I are still on the road to being debt free and will be done with all but student loans and mortgage before the end of the year. My brag for today is to say that since January 1 of this year, we have paid off $20,866 worth of debt (mostly higher interest (6.8%) student loans, some car loan, some mortgage and a few thousand of credit card debt (now at $0!)) This is while making very modest salaries, about $75,000 annual gross, combined.

A few years ago, I never imagined that I'd be saying these words. It didn't even enter my consciousness that I'd be on the road we're on today. We were the ones always waiting for that higher paying job that would magically make the debt go away. Who knew that's not how it worked? ;-)

I can't brag to anyone I know, so felt I should come share with people who will understand what we've been through. Thanks for listening!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: mulescent on June 23, 2015, 09:32:51 AM: \o/

Congrats!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: zephyr911 on June 23, 2015, 10:42:41 AM: Quote from: Pylon on June 23, 2015, 09:29:13 AM
Hi, all! I am a rather new poster here, but have been lurking for several months.

My partner and I are still on the road to being debt free and will be done with all but student loans and mortgage before the end of the year. My brag for today is to say that since January 1 of this year, we have paid off $20,866 worth of debt (mostly higher interest (6.8%) student loans, some car loan, some mortgage and a few thousand of credit card debt (now at $0!)) This is while making very modest salaries, about $75,000 annual gross, combined.

A few years ago, I never imagined that I'd be saying these words. It didn't even enter my consciousness that I'd be on the road we're on today. We were the ones always waiting for that higher paying job that would magically make the debt go away. Who knew that's not how it worked? ;-)

I can't brag to anyone I know, so felt I should come share with people who will understand what we've been through. Thanks for listening!
Sounds like you're living on a pretty small fraction of your actual take-home. $75k gross is $37.5K six months in, so maybe $30K or a little more in net pay, and $20K saved? You're fuckin' killing it! *high fives*
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: Norrie on June 23, 2015, 11:25:17 AM: Stoked for you! Great job. Keep up that intensity, and you'll be riding high before you know it.
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: nereo on June 23, 2015, 11:34:25 AM: great job so far! Keep it up!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: Kevin S. on June 23, 2015, 11:50:05 AM: Awesome! Congrats on the good job so far! I hope to be like you one day ! Thanks for sharing your story!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: boyerbt on June 23, 2015, 02:45:57 PM: Great Job!!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: Dicey on June 23, 2015, 02:47:33 PM: Nice!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: Pylon on June 24, 2015, 08:38:01 AM: Thanks, everyone! It's been a journey but a weight has been lifted that is never going back!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: snogirl on June 24, 2015, 09:14:16 AM: Great job!!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: EricL on June 24, 2015, 09:23:05 AM: That is totally awesome. Congratulations!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: PARedbeard on June 24, 2015, 09:51:34 AM: Congrats! This is fighting the good fight!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: MakingSenseofCents on June 24, 2015, 12:35:58 PM: Wow congrats!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: fartface on June 25, 2015, 08:59:40 AM: Good for you -- eliminating that debt.

Now, you're on the path to building true wealth. Keep posting so we can follow your journey.

Cheers!
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: Kevin S. on June 25, 2015, 10:17:43 AM: Agreed! Now it's time to get a FI / FIRE or whatever you guys call it. Basically don't suck at life after taking care of your debt! Start building up a lot of money, invest, live well, be happy, merry - lots of amazing sex, enjoy life, etc lol
Title: Re: $20,000 down and can see the light at the end of the tunnel
Post by: Scubanewbie on June 26, 2015, 10:03:49 AM: Congrats! Agree with the math above, that's FANTASTIC given your income and it only being 1/2 through the year. congrats!