Happy Christmas to me, we're now debt free!!!!

**mango** · 12-14-2011, 12:36 AM

Ever since I joined FV 12 months ago I have been waiting to post in this thread and now can finally do so. So excited!!!

Have just made our last payment to the last debt and we are now officially consumer debt free except for the mortgage - yeah!!

In 12 months we have paid off:

1 car loan
1 car lease (sold the car)
4 credit cards of varying amounts
1 line of credit

I'm still too embarrassed to actually admit how much it all added up to but suffice to say it was a hell of alot and enough to cause much stress and fights with my husband.

We're been following Dave Ramsay and I have to say I love that man!!! Have just bought some more of his books for my Christmas pressies. Can't wait to move onto baby step 3 and actually start to save some money. What a novel idea!

Over the past 12 months, we've simplified our life, decluttered the house, changed our spending habits, cut our expenses right down, have said no to going out so many times that I'm wouldn't be at all surprised if we never get invited anywhere again and even my kids now know the drill, don't even ask! Have done a menu plan every week, made homemade bread every day and read lots and lots of financial/minimalist blogs to keep me motivated when it all felt too hard.

It's been hard and boring at times but the feeling now of being debt free makes it all worth it. I never, ever what to go back to where we've come from.

Checking in here has made me much more accountable and it's been so great to be on this journey with others who are in the same situation, especially my fellow 11/11/11 project participants - a big thank you for all your support.

So we head into NewYear with a small emergency fund, Christmas fully paid for and with no debts except the mortgage. 2012 will be a big savings year for us and our plan is to fully fund our emergency fund . Bring it on, we're on a roll!!!

**calimomx2** · 12-14-2011, 12:39 AM

That's fantastic! Big congrats to you!!!

**Debbie-cat** · 12-14-2011, 01:13 AM

Congratulations!! I know you have worked so hard and you deserve to yell and scream and do the happy dance!! I am sooo excited for you!!

**homemaker66** · 12-14-2011, 06:17 AM

The best Christmas present ever!!! CONGRATULATIONS

**Russ** · 12-14-2011, 06:58 AM

Awesome!

Congrats!

btw.. I am insanely jealous!

**Incognito** · 12-14-2011, 07:09 AM

Congratulations on this major milestone in reaching your financial goals!
It's wonderful to turn your life around financially, and this is only the beginning of good financial things falling into place for you through your planning and efforts. All the best as you work on your next goal: saving for your EF, and also in tackling the mortgage in future.

**khaski** · 12-14-2011, 07:13 AM

You're gonna have the best Xmas EVER! Congrats on crossing the finish line- you deserve it, after how hard you've worked this past year. It's amazing to get a paycheck and go to budget and realize you no longer have yo pay out to x,y,z, just the monthly bills and savings for your future.

You've crossed that line from paying for your past to saving for your FUTURE- you get to look ahead, not behind! CONGRATS!!!!!!

**Sumacaroni** · 12-14-2011, 07:24 AM

Way to go! Kudos! Congratulations! Celebrate! You've earned the right to dance your way into 2012. I am so proud and happy for you!! Great work and savor that feeling, you've worked so hard to get debt-free so scream it from the rooftop

**nuisance26** · 12-14-2011, 07:42 AM

~Wow that's terrific! Great job!!!~

**OOwl** · 12-14-2011, 08:39 AM

Just reading your words made me relive how I felt about this time last year. It is just THAT exciting! You described very well how that period of working through the debt snowball with the plan feels like at times, and the key to staying with it (motivation and dedication). It really does involve a lot of self control and sacrifice. Very proud that you stuck to it. Welcome to the other side! Good luck on your next stage of financial freedom!