[Kaiouforever]

I feel like such a grown-up!

I had bought my car in February this year when my previous car was totaled. I put the money from the insurance as a downpayment, and took out a loan of about $6,600. I'd been paying it off month by month, and also putting money into savings.

Well, I recently got a second job, and came into a little amount of money that was owed to me from my previous job, plus other things that were owed to me but never paid.

I tossed and turned for 2 weeks, wondering if I should keep the money in savings (so I would have extra cash) or pay off the car loan (The payoff was about $5,700).

I finally realized, that if I paid off the loan, I'd still have plenty of money in savings for any emergency, and I'd have to pay the money eventually, might as well do it while I can.

And now I feel so great! I can honestly say that it is my car, and I paid for it all by myself!

Still working on that student loan debt though...

 

[MTS04]

Good on you! Very good decision. Feels good not waiting on that monthly bill, huh?

 

[Debbie-cat]

Way to go! What a relief to have that monthly bill on your concious. :clap:

 

[mauimagic]

Hope you're as proud of yourself as we are!! Great decision and congrats!!

 

[HappyMama]

:clap: Good job, great decision!

 

[mschrief]

Pay it off!

When my momm passed a couple years ago, she left me $10,000. I promptly paid off my 2005 Ford Focus and have NEVER regreted it. My husband figures I saved myself at least 5k in interest.

1/4 acre gets paid off in a couple of weeks and hopefully one of our VISA cards.

We hope to be totally out of debt, with the exception of our mortgage, by July of next year.

 

[Russ]

awesome! Good decision!

 

[Libby]

Great decision

 

[Kaiouforever]

One of my best friends (who is also in his 20s) told me I'm crazy, that I should enjoy my youth and live it up!

I told him I'm living it up by paying off my debt so I can continue to live it up down the road. :-D

Thank you everyone for your replies! It feels great having that monthly payment gone, and knowing that my debt is much smaller.

 

[Sassyclass]

What a great job. And you did the right thing. No matter what happens, that car is yours free and clear. :cheergrl:

Cat

 

[dcompton]

It sounds to me like you're enjoying your youth just fine! You got a lot of pleasure from that money by using it as you did.

Good job!

 

[MaryCarney]

Think of how hard you'll be able to hit that student loan now! Great job, we're proud of you!

 

[Palooka]

Good job and WTG!!

 

[frugalfranny]

Great job......very good decision and just think of the interest that you saved!

Keep up the good work.

 

[Darlene]

What a smart grown-up you are! :rockon:

 

[khaski]

YAY! Good for you!