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I've been listening to Dave Ramsey for a year or so on the way to and from work. It's great to hear all the folks who have gotten out of debt and his straightforward plan on how to do that. I haven't bothered to pay for any course materials and I really didn't come up with a written budget or follow an envelope system but other than having nothing to do with his plan I still took some inspiration from it. That's why I'm happy to say that as of last Friday I am debt free for the first time in my life since starting college. \  /I made the classic mistakes of getting a credit card as a freshman because it would build credit. Ahahahaha no, it just taught me about overspending and living like an idiot. Then I learned about signing up for *another* card and how you can transfer balances and still be messed up. I learned about extortionate interest rates and consolidation and lots of traps and stupid things. Along the way I ran up a student loan debt and after leaving school and getting an okay job I've been chipping away at it for years. Thing is, I've never aggressively attacked it. That means it's sat like a lump and grown and grown due to compound interest while I've been twiddling my thumbs. That's just dumb as hell. Thanks to some inspiring talk radio, good advice in BFC, some windfalls that I didn't immediately spend on bleep bloop computar machines I have finally kicked the poo poo out of the last remnants of my student debt. I paid off the credit card long ago and it just sits there being useless. For the first time in my life all the money I make actually belongs to me. I can't wait to stuff it away towards a new car and travel plans and computer stuff. It's really exciting to know that I'll soon have a FICO score of 0 because I'll have no debt and no debt instruments in my name.
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Aug 20, 2012 23:44
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| # ¿ Apr 27, 2024 18:00 |
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Alright, I'll keep reading up on credit and whatnot. At the very least, my debt to income ratio took a very positive flip-flop here. Hooray for that.
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Aug 22, 2012 19:02
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Merou posted:Currently I'm planning to use the extra cash to pay my car off early, maybe start an IRA, and maybe start saving to buy a condo or something. Also finished my emergency account, its got 10k in it. I reckon that ain't bad for a 27 year old. That's awesome! Congratulations!
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Aug 30, 2012 04:49
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