Zero Credit Card Debt!

[xamraci]

Today I hit one of my financial responsibility goals. absolutely NO credit card debt or the possession of a credit card.
I just need to keep hitting my student loans head on and I will be out of the red by the end of 2011. :rock:

Absolutely STOKED!!!


I went from $8200 in credit card debt at the beginning of 2007 to absolutely ZERO as of today!

I am going to decrease my student loan interest rates(9.5%) by paying them down with federal staffords at 6.5%, while paying for my classes with cash. This allows me to accumulate debt at a lower interest rate and decrease my interest rate by 3%. Also when I begin repayment of my stafford loans I get over a 1.25% drop for doing automaticly drafted payments and on time payments for 1 year. In theory I will only be paying 4.5-5.5% interest by the close fo 2011. I am stoked to say the least.

Heres hoping our GOV doesnt fuck over my Graduate school plans and loan repayment options...:(

Just sharing my excitement...

Its scarey to think I have been able to pay down my debts only making $1200-$1500 a month...and I spend $600 a month on Rent/bills.

[Jnic335i]

thats awesome man

[Jess]

congrats. Feels good don't it. I've been basically debt free (besides lexus and house) for a while and it's nice.

[ANTIVNM]

I got you beat Nick, I'm 26 and have NEVER had a credit card.

But judging from how I felt after I paid the Camaro off (our only debt), I bet you feel great.

Congratulations on learning to live within your means. Being debt free feels great.

[xamraci]

I got you beat Nick, I'm 26 and have NEVER had a credit card.

But judging from how I felt after I paid the Camaro off (our only debt), I bet you feel great.

Congratulations on learning to live within your means. Being debt free feels great.

I am 25...and that was my ONLY credit card. I have always paid cash for my cars and car parts, cameras...ect. my CC debt came from school and having a shitty job that didnt even pay enough for gas...:( .

Just going to work on the school debt and I feel it will all be a weight lifted from my shoulders in the end...

I look back and KNOW that I never needed the card...but hindsight is 20/20

[Byrd]

I got you beat Nick, I'm 26 and have NEVER had a credit card.


22 without a credit card either. I'm trying to make it my whole life without one.... :eek: Congrats Nick, no go out and buy yourself something nice haha jk


Debt = Slavery

[xamraci]

22 without a credit card either. I'm trying to make it my whole life without one.... :eek: Congrats Nick, no go out and buy yourself something nice haha jk


Debt = Slavery


oh I plan on getting myself somethin real nice...

Probably and Armalite M-15

[Jnic335i]

As long as you can manage your money debt isn't such a bad thing. Well.... Some debt. Now when you go out and max cards.... Then you have a problem.

[CPMaverick]

Congrats.

I had a lot of credit card debt when I graduated (started when I thought I could work enough to pay for school and didn't take out a loan for a semester), and I was able to get it paid off pretty quickly after I got a job. Felt really good.

My student loans got refinanced at 3.3% several years ago, but I'm still keen to pay them off early. Right now I am on budget to get it done by the end of 2009. (Though I do have enough cash on hand to do it if I really wanted to)

[dixond]

Congrats man! I know the feeling!

[FST 05]

I had that great feeling once, then I had a kid and the wife quit work. Now that she is finally working again we are doubling up on payments so we can get our cars and cc paid off.

[Obike]

Congrats Nick!

[ActiveAero]

Greyson use to think I was doing coke on the side due to how much I was making compared to how little I always had to spend. I mean hell I slept on a Walmart air mattress, on the floor, for nearly two years and I was making nearly 50k a year then lol. Of course I was stashing away as much money as possible to pay down a crap ton of debt I had at the time.

I now have zero debt (no car payment, no student loans, no credit card debt, no nothing) and it's the best feeling in the world so congrats x 1000.

I now try to live by the saying "Purposefully living below your means is the best way to live above it.". Sounds weird but it is completely true.

[xamraci]

yeah...David Ramseys books have helped me a TON. Living within my means and making strides in the payments of my debts instead of throwing change at a problem I throw dollars at the smallest until they are gone and work towards the bigger ones.

I appreciate the kind words.

I drive an ugly beat to fuck truck...but hey...gas milage is the same as the 240sx and I am not inclined to blow money on it like I was the 240. I also sold the camera and other shit I didnt need...so I am making the best of it all.

[CPMaverick]

Yea, I just don't buy things anymore. One or two major purchases a year (and those are things less than $1000).

The only thing I spend money on is travel, and I've never regretted it. When gadgets break, wear out, get outdated, or get stolen, I always think ofthe money wasted. It helps that I usually make trips on the super cheap, and have airline miles to burn.

I have a positive net worth (more cash than debt), but my goal this year is to slightly increase my savings and pay off my student loans as well.

[skyhighsami]

As of tomorrow or Tuesday I will have 0 CC debt as well. We have the money in the bank just haven't transfered it from savings. I am looking forward to it because it will free up a good bit of money.

[A418t81]

Greyson use to think I was doing coke on the side due to how much I was making compared to how little I always had to spend. I mean hell I slept on a Walmart air mattress, on the floor, for nearly two years and I was making nearly 50k a year then lol. Of course I was stashing away as much money as possible to pay down a crap ton of debt I had at the time.

I now have zero debt (no car payment, no student loans, no credit card debt, no nothing) and it's the best feeling in the world so congrats x 1000.

I now try to live by the saying "Purposefully living below your means is the best way to live above it.". Sounds weird but it is completely true.

:D

Dude, that conversation was classic, lol.

I don't have any CC debt, only 1 CC with a 1k limit, and I only put gas on it. No car debt, but between my med school loans, and the notes on both of my houses, my total debt is pretty dang crazy lol. That said, my renters pay nearly twice my note in one house, and about 80% of the other...and they are all getting good deals. Works well enough for me.

[linuxman51]

renters are awesome. had a store credit card once, its been zeroed and expired probably two years ago. I'm a slave to a couple of banks (that damn evo, and this damn house :P ), but its not all bad. things got fairly tight shortly after I bought the house, and I recovered my savings just in time to have to deal with a clutch in the evo. it never ends. I'm gonna ice the car for a little bit tho, get one project finished or close to it before diving into another.

[1.8t]

My only debt is my car and it is worth every penny of it to me. I have never carried a balance on my credit card before and I have never had a problem living within/below my means. I am sick to my stomach with how much I have now spent on my car. This fucker needs to start running and running right because I am not going to throw another dime at it for a long time if I don't have too.

[Veedubtrek]

My debt is like nagging gf, but she always buys me presents so I can live with her. Especially since she helped me get through school without really having to "budget."