Author Topic: It's done. It's all done.  (Read 8840 times)

MrBuckBeard

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It's done. It's all done.
« on: January 22, 2015, 03:41:29 PM »
Holy ****, people.  Just...wow.  My victory isn't going to be as potent as many of yours, but to me, it's the most financially rewarding thing I've managed in years.  Decades, even.

Last year, I was burried under a small mountain of debt, in the form of a truck payment and credit cards.  The truck was easy enough: I sold it.  I twisted my work's arm JUST a little and got them to pay for a T-pass to get free bus and train rides into work.  As far as benefits go, it was pretty cheap for my work, and saved me hundreds a month.

Anyway, I started taking the money that would have gone into my truck's debt, and instead I put that into my credit cards.  The credit cards weren't a lot, per se, but it seemed like every month I'd toss $400 at one card, and then somehow still spend $350 or more on the same card.  I wasn't really getting unburied all that fast, I was just barely keeping the hole from going deeper.

So, I started getting aggressive in ways to cut back.  Lowered the Internet speeds.  Paid the early termination fees in in order to drop my cell phone carrier and went to a 3G plan with Republic Wireless.  Limited my food budgets and cut back on some of my going out money (although I did still go out, just a little more responsibly).

Finally, I got the idea of targeting my highest interest credit card with payments, and not spending anything on it.  Once it was paid off, I moved to the next one.  I had four cards, total.  My goal was to get these paid of in 2014, so that I could start 2015 without credit card debt.  Unfortunately my cat got sick in December, and that cost me about $750 to get her well again.  So the credit cards still existed in part by 2015.

Still, I just got my paycheck today, and with this one, I have paid off the last of my credit cards.  Zero dollars owed on any of 'em.  ZERO.  I even had one card with a $47 balance that wouldn't have been due until Feb 28th.  I paid it too, just to ACTUALLY have a real zero balance.  Now my YNAB screen shows me as having a positive net worth.  That's not factoring in student loans, but hey, one mountain at a time.

You guys, and the guys over at Reddit, both helped me a lot with my personal budget.  You told me the things I didn't want to hear, and you gave me positive reinforcement when I needed it.  My girlfriend was also a constant in a sea of change.  It's good to have good people.

Thanks guys and gals!
« Last Edit: January 22, 2015, 03:44:05 PM by MrBuckBeard »

southern granny

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Re: It's done. It's all done.
« Reply #1 on: January 22, 2015, 03:53:07 PM »
Congratulations on your success. Awesome job.

4alpacas

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Re: It's done. It's all done.
« Reply #2 on: January 22, 2015, 04:03:51 PM »
You're amazing!  Great job!  Keep up the savings going.

arebelspy

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Re: It's done. It's all done.
« Reply #3 on: January 22, 2015, 04:11:09 PM »
Congrats dude!  Keep up that laser focus, set some new goals (student loan debt?  100k net worth? FI?), and keep going!  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

BPA

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Re: It's done. It's all done.
« Reply #4 on: January 22, 2015, 05:29:08 PM »
What great news!!! 

I hope kitty is all better.  I would have spent money on kitty too.  :)

sunshine

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Re: It's done. It's all done.
« Reply #5 on: January 22, 2015, 05:30:35 PM »
Awesome job!!!!!!

G-dog

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Re: It's done. It's all done.
« Reply #6 on: January 22, 2015, 05:44:10 PM »
Congratulations! It is amazing what you can do once you put your mind to it.  You are on your way to FI!
Don't forget this feeling - remind yourself of this if you hit a lag or bump toward another goal.

Way to go!
« Last Edit: January 31, 2015, 06:43:26 AM by G-dog »

1967mama

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Re: It's done. It's all done.
« Reply #7 on: January 22, 2015, 05:46:39 PM »
What a great story! Congratulations!

toodleoo

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Re: It's done. It's all done.
« Reply #8 on: January 22, 2015, 05:58:16 PM »
Awesome job. It is a great feeling. Imagine how great you will feel when the student loans are gone!!

The Fake Cheap

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Re: It's done. It's all done.
« Reply #9 on: January 22, 2015, 06:02:00 PM »
Sounds like a great story.  I bet you didn't miss your truck as much as you though you would after you sold it.

aj_yooper

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Re: It's done. It's all done.
« Reply #10 on: January 22, 2015, 06:13:20 PM »
Congratulations on your debt smash!  You gotta be proud.

SMCx3

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Re: It's done. It's all done.
« Reply #11 on: January 23, 2015, 03:36:12 PM »
Fantastic Job!

Nothing better than reaching goals no matter how big or small.  Keep it up!

Indio

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Re: It's done. It's all done.
« Reply #12 on: January 23, 2015, 03:44:02 PM »
Excellent! If you target those students loans, that arent low interest, with the same samurai skills, you will be amazed how quickly they disappear.

lifejoy

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Re: It's done. It's all done.
« Reply #13 on: January 23, 2015, 04:21:18 PM »
Wahoooooo!!!!!!!!! Don't it feel good?! I recommend taking a screen shot of your statement, printing it, and putting it somewhere that you can view it with much deserved happiness :)

Mazzinator

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Re: It's done. It's all done.
« Reply #14 on: January 23, 2015, 04:26:35 PM »
Great job!!!

Money Badger

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Re: It's done. It's all done.
« Reply #15 on: January 24, 2015, 08:10:03 AM »
To the OP, this is a F-ing awesome turnaround...  Smell the roses for sure, get a small reward you will remember from this experience (pay cash), and move on...    FI is a lifestyle instead of one goal...

What's the next plan on those student loans?   Is girlfriend on board with the lifestyle??   Spend time together frugally as you go so she doesnt feel left out...  I for one have to be careful with a spendy spouse who takes financial goal achievements as a sign to do something expensive (travel/remodel/etc),  so pay attention and keep talking & encouraging her as well!

CU Tiger

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Re: It's done. It's all done.
« Reply #16 on: January 24, 2015, 08:24:26 AM »
Well done! Give yourself a pat on the back.

MsPeacock

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Re: It's done. It's all done.
« Reply #17 on: January 24, 2015, 12:34:48 PM »
Congratulations! I hope to make a similar post in a year or so.

Gerard

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Re: It's done. It's all done.
« Reply #18 on: January 24, 2015, 05:27:13 PM »
Your happiness and relief just bounce off the page. I hope this is the first of many such victories for you.

Kaydedid

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Re: It's done. It's all done.
« Reply #19 on: January 27, 2015, 05:23:41 PM »
A

yoga mama

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Re: It's done. It's all done.
« Reply #20 on: January 30, 2015, 06:11:43 PM »
That's awesome!  Congrats!