Both Vehicles Paid off last month-
Woohoo!!
An extra $750/mo. In order to pay my last credit card off. It will only take a couple/three months to do that. After that, I am completely totally, debt free.
An extra $750/mo. In order to pay my last credit card off. It will only take a couple/three months to do that. After that, I am completely totally, debt free.
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I am debt free. I don?t owe anyone anything for all the stuff I don?t have. 0 -
Debt free is liberty...
Freedom from the lender is sweet.0 -
I am debt free excluding monthly utility bills.
ONLY vehicle I financed was back in 1968 or 69.
HATED making those monthly payments.
Once the vehicle was paid off, funds went on to 'vehicle' savings' and EARNED interest.
Ever since, when I purchased a vehicle, it was CASH.........NO MONTHLY PAYMENTS, NO INTEREST!
Credit cards ~ have some, never charge more than ability to pay them off IN FULL when the statement arrives....NO MONTHLY PAYMENTS, NO INTEREST!0 -
Quick&Dead wrote:I am debt free excluding monthly utility bills.
ONLY vehicle I financed was back in 1968 or 69.
HATED making those monthly payments.
Once the vehicle was paid off, funds went on to 'vehicle' savings' and EARNED interest.
Ever since, when I purchased a vehicle, it was CASH.........NO MONTHLY PAYMENTS, NO INTEREST!
Credit cards ~ have some, never charge more than ability to pay them off IN FULL when the statement arrives....NO MONTHLY PAYMENTS, NO INTEREST!
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That sounds Awesome my Brother. Best case scenario.
Now my house, both vehicles, etc. Are paid for. Finalizing my payments on my one and only card. Priceless.0 -
KenK/84Bravo wrote:Quick&Dead wrote:I am debt free excluding monthly utility bills.
ONLY vehicle I financed was back in 1968 or 69.
HATED making those monthly payments.
Once the vehicle was paid off, funds went on to 'vehicle' savings' and EARNED interest.
Ever since, when I purchased a vehicle, it was CASH.........NO MONTHLY PAYMENTS, NO INTEREST!
Credit cards ~ have some, never charge more than ability to pay them off IN FULL when the statement arrives....NO MONTHLY PAYMENTS, NO INTEREST!
[/quote
That sounds Awesome my Brother. Best case scenario.
Now my house, both vehicles, etc. Are paid for. Finalizing my payments on my one and only card. Priceless.
I neglected to add........CONGRATULATIONS !!
I did finance two items: A business I purchased for the 'right' price and paid off in 4 years and the house I purchased about 10 years ago, paid off in 4 years.
I HATE making payments and would much rather collect interest on my money than pay interest!!!0 -
People make millions off at people that think they need something that they really don't and end up financing it. Living within your means does not mean you Finance something.
Once every seven years I finance a new vehicle it, but I pay it off within 6 months just to keep my credit good just in case I ever do need it. It takes 6 months for a creditor to rate on the bureau's0 -
Now you are working for you and not the bank. It is amazing how they can charge so much interest and not pay any for savings accounts. Just got a notice that the local Chase bank branch is closing. So many people never go to the bank anymore and just do their banking electronically. You would think they could pay more interest if their payroll is shrinking. Last fall we bought a new vehicle. Told them on Friday to have it ready on Monday as we had to move some money to the checking account to pay in full. Salesman left to get someone to prep the vehicle and the sales manager came in and started his spiel about financing. I told him the dam car was to expensive to start with, why would I increase the price by paying interest. Bob 0 -
its great to have the house(s) cars and so on paid for congrats on a milestone
then I realize I am just renting from the government . fall behind in taxes and uncle sam will have your property so we are never debt free in the old sense of the saying ...frigging government ..
we have one cc pay it off every month and get cash back helps track spending and keeps credit score up to date its no wonder some places charge cc fees .0 -
Debt free is good! 0 -
It?s a great feeling, ain?t it? When I paid my house off after 7 years it seemed like, for the first time in my life, I had extra money. Began loading up the IRAs and 401 and retired 6 years early. 0 -
Being debt free is a great feeling. We don't owe a penny to anyone, everything we have is paid for. 0 -
jimdeere wrote:It?s a great feeling, ain?t it? When I paid my house off after 7 years it seemed like, for the first time in my life, I had extra money. Began loading up the IRAs and 401 and retired 6 years early.
I hope to retire in 2 years 2 months, when I am 60. Your plan, is my plan Sir.
Profit share from my Co. Should be around $55-$60K.0 -
remingtonoaks wrote:People make millions off at people that think they need something that they really don't and end up financing it. Living within your means does not mean you Finance something.
Once every seven years I finance a new vehicle it, but I pay it off within 6 months just to keep my credit good just in case I ever do need it. It takes 6 months for a creditor to rate on the bureau's
Why do you need credit if you don't finance anything?
I don't care what my credit rating is because I'll never purchase anything on credit for the rest of my life. I don't even have a credit card. So they can take their credit ratings and shove then were the sun don't shine!0 -
These are all great stories of success and I too do my best to live within my means and pay no interest.
Problem I have lived to see pertains to my late In-Laws. They both worked hard all of their lives. Saved and scrimped, never having house payments or any other payments. Had a very impressive nest egg by the time they were in their senior years.
Dad got dementia\bladder cancer\brain tumor and mom got Alzheimer's and between the two of them the care facilities took it all! They both had medicare, along with a med-gap plan.
Our system is designed to make sure we are born with nothing and we leave with nothing!
(sorry Ken, I did not post this to take anything away from your great news. You should be proud of your accomplishments!0 -
Brookwood wrote:These are all great stories of success and I too do my best to live within my means and pay no interest.
Problem I have lived to see pertains to my late In-Laws. They both worked hard all of their lives. Saved and scrimped, never having house payments or any other payments. Had a very impressive nest egg by the time they were in their senior years.
Dad got dementia\bladder cancer\brain tumor and mom got Alzheimer's and between the two of them the care facilities took it all! They both had medicare, along with a med-gap plan.
Our system is designed to make sure we are born with nothing and we leave with nothing!
(sorry Ken, I did not post this to take anything away from your great news. You should be proud of your accomplishments!
No worries Brother.
I am.
Thank you all for the support, and good wishes.0 -
Smitty500mag wrote:remingtonoaks wrote:People make millions off at people that think they need something that they really don't and end up financing it. Living within your means does not mean you Finance something.
Once every seven years I finance a new vehicle it, but I pay it off within 6 months just to keep my credit good just in case I ever do need it. It takes 6 months for a creditor to rate on the bureau's
Why do you need credit if you don't finance anything?
I don't care what my credit rating is because I'll never purchase anything on credit for the rest of my life. I don't even have a credit card. So they can take their credit ratings and shove then were the sun don't shine!
Good for you, I hope you never have an emergency to where you will need credit. Myself, I prefer to hope for the best but prepare for the worst..0 -
Smitty500mag wrote:remingtonoaks wrote:People make millions off at people that think they need something that they really don't and end up financing it. Living within your means does not mean you Finance something.
Once every seven years I finance a new vehicle it, but I pay it off within 6 months just to keep my credit good just in case I ever do need it. It takes 6 months for a creditor to rate on the bureau's
Why do you need credit if you don't finance anything?
I don't care what my credit rating is because I'll never purchase anything on credit for the rest of my life. I don't even have a credit card. So they can take their credit ratings and shove then were the sun don't shine!
You probably are not aware that your 'credit rating' impacts you life in ways you may not be aware of.
It plays a role in your the cost of your insurance premiums.
It impacts the amount you pay if renting.
Utility deposit amount when opening an account for phone, electricity, natural gas, etc.
Without a credit card, you CANNOT rent a vehicle (handy in an emergency)
As time passes, there are more and more business places you have to use a credit card....like purchases on the internet and places you must use a credit card like Uber etc....since they do not accept cash to prevent employee theft and robbery.0 -
I have a stack of credit cards. They keep giving me money to take them out & I am happy to take their money. I try to use them for everything I can & since the rebates are different for different items I am usually using three or more different cards. Those rebates really add up. Of course you have to be sure you pay IN FULL each month & you don't buy anything you wouldn't if you didn't have the cards.
Once you have your cars paid off keep making the payments to yourself & by the next time you NEED a new car you can pay CASH. It will happen much faster since you will be getting interest instead of paying it. You may also be a bit less likely to over indulge on the new car.0 -
Paid my present vehicle off in 2006. Not really,, paid cash. Same as every vehicle I've owned since 1983. Saved a HUGE amount of money which was mostly spent foolishly,, except for buying stocks, guns and gold.
Car is 26 years old now and everything works and (in texas) doesn't need emissions inspection for any vehicle over 25 years old. Safety inspection only $7.50 every year. Who knows, maybe car will need wipers, brakes, headlights, gas cap or ????? someday.0 -
Quick&Dead wrote:
You probably are not aware that your 'credit rating' impacts you life in ways you may not be aware of.
It plays a role in your the cost of your insurance premiums.
It impacts the amount you pay if renting.
Utility deposit amount when opening an account for phone, electricity, natural gas, etc.
Without a credit card, you CANNOT rent a vehicle (handy in an emergency)
As time passes, there are more and more business places you have to use a credit card....like purchases on the internet and places you must use a credit card like Uber etc....since they do not accept cash to prevent employee theft and robbery.
I'm aware of all that BS. My wife has one credit card we use if we need to rent a car. I've had the same home owners and car insurance with American National since 1976. I've never had a claim so my insurance is lower now than it was 10 years ago. I've owned all my houses for many years and I don't need to put a deposit on anything else for the rest of my life. So I don't need credit.0
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