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  1. 06-20-2006, 06:42 PM #1
    Drgnfly423
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    Smile Quick Debt Reduction...

    Although I have few posts to my name I have been lurking for quite a while. I just wanted to clarify the reason for my quick debt payoff.
    Part of the reason are the lessons in frugality that I have learned here. The main reason is that my DH is an independent contractor so all year we saved for our taxes. Our tax bill was significantly less that we anticipated so we were able to pay off around $9,000 of his student loan. This past year has been a blessing for us and with luck the rest of our debt will be gone in 2 months. I am cashing out a Whole Life Insurance policy that I have had since I was 4.
    Quick payoff of large amounts of debt are possible if you have the discipline. Hopefully in a year we will have enough saved to buy a house!
    Thank you, everyone, for your support and advice.
    Miranda
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  2. 06-20-2006, 11:01 PM #2
    PrairieRose
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    Thanks for sharing your story Miranda! It's always so inspirational to hear the positive side of frugality and perserverance. Good for you guys, keep that momentum goin'!

    ~48 yr. old sahw, livin' it up in our empty nest, smack dab in the middle of everywhere.~
    *We're debt freeeeeeeee! (including the house)*


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  3. 06-20-2006, 11:18 PM #3
    frugalfarmwife
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    Good work! Thanks for sharing and inspiring so many of us, this is what this forum is all about!

    Have fun house hunting!

    kj
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  4. 06-20-2006, 11:26 PM #4
    Drgnfly423
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    Thanks! I love being able to tell people. I don't share this kind of information in my "real life". It's great having friends to go to that don't judge.
    I'm definitely nervous about the house buying, but I know it will be soooooo satisfying.
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  5. 06-21-2006, 02:10 AM #5
    autumnlynn
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    Thanks for sharing. You will LOVE being homeowner!!
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  6. 06-21-2006, 09:25 AM #6
    pammy
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    Wow, that was awesome what you guys were able to do. Most people I know (in real life) would have blown that $9,000 instead of being smart and using it to get out of debt. That was awesome!!

    Good luck finding your new home, it's such a blessing.


    Bring on them baby steps...
    Step 1: done
    Step 2: waiting on amount, hubby had followup colonoscopy, I had visit to ER with followup procedure
    Step 3: to follow, won't know aim until things settle
    Step 4: to follow, currently at 6%
    Step 5: grown child
    Step 6: huge mortgage ANNIHILATED!!
    Step 7: ahhhh....


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  7. 06-21-2006, 09:29 AM #7
    MirandaK
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    Good job!!! i can't wait to be in your shoes!
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  8. 06-21-2006, 02:10 PM #8
    Drgnfly423
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    I do have to say that it made me a little sick writing that check...but as soon as I saw it reflected in the balance on that loan it made it all worth it. Thank you all so much
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  9. 06-28-2006, 03:51 PM #9
    alabamagirl
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    Way to go Miranda!
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