We’re Debt Free!

I have been waiting to write this post for what seems like forever. In reality it is has been 6 years. Last week Josh and I made the final payment on our car and I can say we're debt free! We're Debt Freeeeeeeeeeee! We're Debt Freeeeeeeeeeee! We're Debt Freeeeeeeeeeee! 6 years ago we took Dave Ramsey's Financial Peace University at our church and began to pay off our debt. Here is an overview of what we owed. Credit Card 1: $300 Credit Card 2: $1,200 Credit Card 3: $7,500 Car 1: $7,200 Car 2: $13,500 TOTAL: $29,700 We went from having 3 credit cards and two car payments and slowly began to make more payments on the lowest credit card we had. Then we used the debt snowball to knock out our debts one by one, from smallest to largest. Once the first card was paid off we added what we were paying on it to the next debt. We have successfully completed Baby Step 1: Save $1,000 for an Emergency Fund and now Baby Step 2: Pay off Debt. And it feels so good! We … [Read more...]