No more consumer debt!

[The Fake Cheap]

Today is the day that will go down in history that we, DW and I, wiped out the last of our consumer debt.  We still have a mortgage, but this is a pretty darn good feeling.  I've been in debt ever since I got my first credit card, then the student loans came, then the other life expenses (pre-mustache of course) which were often financed.  The first debt to be paid off were the credit cards (not that much of a balance a few K) about 7 years ago, then I got to focusing on the student loan, it disappeared about 3 years ago, then we were able to focus all our financial firepower at the lines of credit, those balances quickly dwindled, and the final blow was dealt today. 

Now looking forward to how much we can additionally save each month!

[pachnik]

Congratulations!  Your net worth will grow rapidly if you go at it the way you went at your debt.  Full steam ahead!

[CU Tiger]

I was stunned at how fast money stacked up when we stopped having monthly debt payments. We are saving so much more than I ever imagined we could, because we don't have any debt to pay off. I knew this in a sort of abstract way, but the reality hit home so that I felt it in my gut on the day my husband handed me a bank receipt showing we had a balance of over $20,000. I stared at that number, gobsmacked, until I started laughing. We had to up our investments!

Congratulations! You are about to become a prodigious accumulator of wealth!

[Rosy]

Sweet!

[FireHiker]

Congratulations on your milestone!

[NoWorries]

WOO HOO! Congratulations! It feels amazing. You used such discipline and keeping that up will put you in such a fabulous place in one year from now. GREAT JOB!

[Capt j-rod]

Congrats!!! I keep trying to explain to the DW that bigger principle payments are the same as savings. It is hard to hammer it home when the checks go up but the savings are piling up. Our debt is rapidly dropping, but it's just not the same as counting cash! Enjoy your freedom and again congratulations. I hope to be there soon!

[Slee_stack]

Congrats!

Keep in mind that 'Consumer Debt' isn't necessarily a vile thing.

I voluntarily keep a small sum of Consumer Debt around because I feel comfortable leveraging it.

Avoiding/minimizing the acquisition of debt is the true achievement.

If the debt is inevitable and justified however, don't feel bad if you'd rather leave X amount of money in investments instead of withdrawing it to pay the debt.

It really should be about maximizing your dollars' returns looking at both sides of the ledger.

Anyway, starting from '0', you now get to begin planning how to make your NW increase as quickly as possible.  Definitely more fun!

[wonkette]

Great work! Now you can put interest to work for you.

[Sister C]

Well done!  Sounds like you and your wife have made some big changes over the past 7 years to make this day possible!