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  1. 12-20-2010, 05:29 PM #1
    Preston
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    Default The last debt that shall be destroyed.

    Proud to report that we are on our last debt now. Feels good. It's a student loan at 3.125% interest, and our checking account pays 3.5% so we're in no hurry. I'm actually loading up our checking account/EF because we are about to get hit with something big.

    Kid due in six weeks. I'd rather have a big EF in place when that happens.

    Last debt is about $5500, and we could pay that off in about 8 weeks but I'd rather have some $$ in the bank. I may as well try to enjoy this.

    But I feel like I've been climbing a mountain forever, and right now I'm almost to the top, the steep cliffs are starting to round out. And I'm ready for the ride down.


    --

    "It doesn't matter how hard you hit, it's how hard you can get hit and keep moving forward. That's how winning is done." - Rocky Balboa

    Story of my life. In 2007 we had 78000 worth of debt, and we climbed out under it, on top of paying for a surgery with cash, bought a house, had a foundation shift and $11000 in repairs later we are good to go.. then I hear the words "I'm pregnant!"
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  2. 12-20-2010, 05:38 PM #2
    thefrugaltribe
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    Congratulations on getting to where you are.

    I am sure it has taken some hard work in determination!

    Good luck on the arrival of your LO and I am doing the same thing when I am pregnant and putting some money in savings.
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  3. 12-20-2010, 05:41 PM #3
    PaulaMM
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    Congratulations, that has to feel really good! After falling off the debt reduction wagon and wallowing in financial filth for a while, I am back on track and excited about it.

    I think you're really smart to put up a good EF for the baby's arrival. My DH was laid off right after the birth of our daughter and couldn't find a good paying job for a while. It really put us in a bind. I wish I had had your good sense and put up an EF beforehand.

    Be sure to post itwhen you get to the top of that mountain! I wanna read it when you scream "I'M DEBT FREEEEE!'' from the summit!
    Wife to Kenneth
    Mom to Joey, age 17
    Mom to Kendra, age 9


    Money is 80% behavior, 20% head knowledge. It's what you do, not what you know. - Dave Ramsey
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  4. 12-20-2010, 05:41 PM #4
    imagine
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    Quote Originally Posted by Preston View Post
    Proud to report that we are on our last debt now. Feels good. It's a student loan at 3.125% interest, and our checking account pays 3.5% so we're in no hurry. I'm actually loading up our checking account/EF because we are about to get hit with something big.

    Kid due in six weeks. I'd rather have a big EF in place when that happens.

    Last debt is about $5500, and we could pay that off in about 8 weeks but I'd rather have some $$ in the bank. I may as well try to enjoy this.

    But I feel like I've been climbing a mountain forever, and right now I'm almost to the top, the steep cliffs are starting to round out. And I'm ready for the ride down.
    Congratulations on almost being debt free

    And Congratulations on the kid coming soon.

    My children were early birds. First one came 5 weeks before due date second one came 4 weeks before due date.

    So really it is almost anytime now the kid of yours could be coming of course some come late by a week or two so it might not be really soon.
    "Everyday as your walking down the street, everybody that you met has an original point of view" -Arthur PBS

    Imagine - Wife of 18 years to Hubby
    Mom to Buddy (son 15) and Little Miss ( daughter 11)
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  5. 12-20-2010, 08:47 PM #5
    handerson2005
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    Congrats on being on your last debt! What an amazing feeling that must be. Congrats on your soon to be arrival as well!
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  6. 12-20-2010, 09:41 PM #6
    Sassyclass
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    Great job Preston. Cant' wait to see that little angel.

    Cat
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  7. 12-20-2010, 09:48 PM #7
    mikandmari
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    Wow that is so great! A new baby and financial freedom! You have some really wonderful years approaching you now!
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  8. 12-20-2010, 10:57 PM #8
    Debbie-cat
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    Congratulations on both the last debt and the little one coming!
    Dh Bob FIL
    DS (21) at Lakehead U - go Thunderwolves!


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  9. 12-21-2010, 12:15 AM #9
    frugalfranny
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    Some great progress...........you should be proud.

    What a great way to start a new year!!! Congrats!
    Travel light. The baggage of the past can only hold you back.

    January Book List
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  10. 12-21-2010, 08:33 AM #10
    Darlene
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    Great news & so happy your sweetie and soon-to
    -be born are both doing well.
    ~*Darlene*~
    Live Well~LaughOften~Love Much

    "Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around."
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  11. 12-21-2010, 10:53 AM #11
    rskmom
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    Amazing job - you should be proud!

    I have to say, the best gift you can give a child is a house of financial stability and you are well on your way to that!
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  12. 12-22-2010, 01:12 AM #12
    kita
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    I'm so impressed by your maturity and determination in the face of some stressful times.
    All I can say is...do ya gotta brother?
    Go West Young(ish) (Wo)Man,
    Let your troubles stay east.
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  13. 12-27-2010, 01:24 AM #13
    NikoSan999
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    Congratulations and congratulations! You came, you saw, you conquered...a feat to be proud of.
    Bank of America is THE godfather of Hell with Wells Fargo running neck and neck. When the world ends the only things that will be left are cockroaches, Walmart, Wells Fargo and Bank of America. Not necessarily in that order. The order remains to be seen.

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  14. 01-03-2011, 06:42 PM #14
    Preston
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    it's driving me nuts not paying off this last debt. I am actually makeing $10 daily payments on it just to feed my addiction to paying bills.


    --

    "It doesn't matter how hard you hit, it's how hard you can get hit and keep moving forward. That's how winning is done." - Rocky Balboa

    Story of my life. In 2007 we had 78000 worth of debt, and we climbed out under it, on top of paying for a surgery with cash, bought a house, had a foundation shift and $11000 in repairs later we are good to go.. then I hear the words "I'm pregnant!"
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