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Thread: Paid off 60% of debt today
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03-17-2010, 07:38 AM #1Registered User
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Paid off 60% of debt today
It's like a huge load off and did mean cashing in my stocks but it's less interest I'd have to pay to banks for those credit cards and lines of credit. I've snowballed the remaining accounts. One account should be done in 6 months and the others will probably be done in 2.5 years (although a raise may shorten that done some). I think it's far better than the 5-6 years I had been planning on.
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03-17-2010, 07:55 AM #2Moderator
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Very nice......I'm impressed
--------My signature--------
The economy is now uncharted waters... grab a oar and start rowing. ~~
Put the frog in pot, turn up the heat real slow, and the frog doesn't hop out. And by the time he realizes, he should , it's too late... think about it.
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03-17-2010, 08:06 AM #3Moderator
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Wow, what a stress reliever! Congratulations!
The Free Spirit Saver who walks the path with Greebo.
Onboard with a modified Dave Ramsey Plan
Budget: "Every month! On paper, on purpose!"
Gardening somewhere between Zone 6b and 7a.
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03-17-2010, 08:35 AM #4Registered User
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You have to do what you got to do. It's best to get out of debt the fastest way possible. The stock market can crash again and what you had invested will be gone. This was the best way.
I am sure you will pay off the rest sooner than you plan.Step 1 $207/1500
Step 2 Student loan $160.00 monthly
Schewels paid
Step 3 $252/$15000
Step 4
Step 5 1 child in college graduates 12/12
2 child $50.00
Step 6 $70,761/$93,000
Step 7 Build wealth & give.
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03-17-2010, 08:39 AM #5Registered User
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The majority of the stock came as a "bonus" from the company and it's been doing well. I'm still doing lots of stock purchase within the company (it's still at half of what the stock is at right now) so it's a benefit to me but it does mean I have to hold on to it longer (for less taxes paid). But yes, the stock market could crash again and I'd lose out on paying sooner.
Originally Posted by sinopa27
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03-17-2010, 09:51 AM #6Registered User
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Good move Linus!
Partial weight lifted off your shoulders?2012: The Year Of The Purge!
UPDATED: MAY 15/12
2012 FLING - 673/2012 | COUPON SAVINGS $178.93
EMERGENCY FUND #2 - $510.78 | VACATION FUND - $513.58 | CHANGE JAR $222.51
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03-17-2010, 09:54 AM #7Registered User
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Oh ya. A huge amount off and stress reduced a bit. Originally Posted by Libby
Good move Linus!
Partial weight lifted off your shoulders?
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03-17-2010, 10:17 AM #8Registered User
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Good job Linus...I bet it feels great! Keep up the good work.
How much we enjoy what we have is more important than how much we have. Life is full of people who have more than they know what to do with, but cannot be content. It is the capacity to enjoy life that brings contentment.---Unknown
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03-17-2010, 10:37 AM #9Registered User
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Congratulations Linus!
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03-17-2010, 10:40 AM #10Registered User
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Congratulations!!
Kim
Wife to dh Jeff for 21 years
Mom to dd Kelly 16
dd Diana 13 
3 very spoiled cats
1 dog
Book Challenge 2012 - 28 / 25
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03-17-2010, 10:48 AM #11
Congrats (BRAT) I am so jealous. We will slogging for at least 2 more and that doesn't incl. College for 2.
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03-17-2010, 10:51 AM #12Registered User
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Heh.. I still have more to pay off but it does make it easier to do so. Originally Posted by frugalwarrior2
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03-17-2010, 10:57 AM #13Rude and Vile Master
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Assuming this wasn't in a retirement account, great job!!!
If it WAS in a retirement account, report for the wet noodle lashing at 6am.If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
ThreeTwo mortgages,twooneno car loans,oneno credit cards, and a partridge in pear tree!
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03-17-2010, 10:58 AM #14Registered User
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way to go! Sounds like you are well on your way!!
Married 22 years to Mark
Mom to Ryan 25
Lisa 18
and Yorkie Lexi
SAHM in Florida
starting totals
Mortgage $142,458/$155,000
-----------------------
change jar total $95.00
EF $1000.00
A friendly reminder Always wear sunscreen!
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03-17-2010, 10:59 AM #15Registered User
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w00t!! Great job! I'm much further out than I want to be from paying off my stuff. Much further away than you are, I envy you!
LDR
, 2 DD (one left the nest, one rarely home) More pets than money. More love than sense.
"If you can't see the light at the end of the tunnel, march down there and light it yourself."
Full-time job
Car loan and personal loan
Challenges for 2012:
2012 Grocery Budget Reduction Challenge- $100 a month. (down from $150) Hm, might be too low.
Electric Usage Challenge (doing well, under $70 most months)
Yah, I suck at this money stuff, I know. That's why I'm here.
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