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Payoff

Old 03-22-2011, 11:21 PM
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Cool Payoff

So last week I made my last payment, payee off my Sx4 2007 Two years early! Saving $350 a month!
Last year I paid off my Rx8 two years early two!! Saving $650 a month!!
The year before that, I paid off my credit card!!! Saving $50 for a total Saving of $1000 a month!!!
Now all I have is my condo, which is two years old. No rust there, but I do hope to pay it off in 20 year, not 30 years!

The reason for my pay off, has been the lose of job security, so now it just feels good not to have any more car payment, credit card, and I can sleep very well at night Not worrying so much I bout my job and the pressure to perform, don't get me wrong, I do my job very well. Am a Senior Manager with 8 years with the company, but I did see many other manager get fire because there stores were not performing well, even if they were doing the right thing!

So now if I buy something with my credit card and I now I can't pay it off by the end of the month I won't buy it!!!!

Next it Vacation, Am planing on driving this summer from home (Puyallup, WA) to Las Vegas, spending four days there then driving to Disney California Spending four days there and then going back home!!!

Next years I will go Back home(Puerto Rico) for a two week Vacation!!!

after that will see!!!

I do have to say it again, It FEEL VERY GOOD TO BE OUT OF DEBT!!!
Present 93 Scoupe Turbo, 04 RX8, 07 Sx4 Crossover
Past 81 Corolla, 86 Rx7, 92 Civic si, 93 Rx7 Twin Turbo, 91 Mx6 Turbo, RSX 01
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Old 03-22-2011, 11:39 PM
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it's sad that someone being fiscally responsible is such a shock. But what you've done is really not the normal thing in this country. Good job on paying down your debt and living within your means!

To the other people I say this:

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Old 03-23-2011, 08:37 AM
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Me and my wife have four vehicles and have paid them all off except one. We are working on paying off her Solstice now. As for credit cards we just consolidated everything to one card that has 0% interest for the next 18 months. So I'd say in another year and a half we also will have everything paid off with the exception of the mortgage. We also have about $10,000 in our savings to fall back on if times get tough. We currently use only cash for purchases. Most people live outside of their means. and live paycheck to paycheck. That is no way to go through life.....but unfortunately it is the American way.
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Old 03-23-2011, 08:43 AM
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Originally Posted by terch1 View Post
Me and my wife have four vehicles and have paid them all off except one. We are working on paying off her Solstice now. As for credit cards we just consolidated everything to one card that has 0% interest for the next 18 months. So I'd say in another year and a half we also will have everything paid off with the exception of the mortgage. We also have about $10,000 in our savings to fall back on if times get tough. We currently use only cash for purchases. Most people live outside of their means. and live paycheck to paycheck. That is no way to go through life.....but unfortunately it is the American way.
You are correct it is the American way of life, we are so worried about what people think of us and what makes us look good. Thats whey 90% of america is materialistic. Sad to say but its true.
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Old 03-23-2011, 09:00 AM
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You go dude, being debt free is a really nice feeling isn't it.
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Old 03-23-2011, 03:13 PM
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Excellent!

When I bought my '07, I financed it on a 5-year loan. Paid it off in 3.

I love having the title in-hand.
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Old 03-23-2011, 03:30 PM
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It is a good feeling. Im 24 and have 3 cars paid off. I bought the 8 in march last yr on a three yr note and made my last payment on the first of this month. I have my cap one card and only use it for gas and pay it off when do it. I have no debt and at 24 with no debt is a good feeling. And Im not bragging just feels good. Congrats man!
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Old 03-27-2011, 11:52 AM
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Thank you guy!!!



I do have to say, I feel like a diferent person. Last week my wife wanted to go buy some stuff for the bathroom, and she ask me (I do the finances in the house) I could buy this today and next payday, I can get the rest, so I told her to get it all, she look surprice and very happy at the same time!!! The next day I took the family out to dinner and they were suprice that we did not go to subway, or to a fast food place, we went to an italian restaran, just becouse we can now!!

yesterday I went to bestbuy to look at the Ipad2, and it feel very good, becouse at the end I was thingking of buying a Mac Pro, and I know I can buy it cash with no problem, but my laptop is 1 year old, so I guest I will wait for an Ipod2 to come in!!!



ANYWAY THANK YOU ALL FOR YOU SUPORT!!!
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Old 03-27-2011, 12:01 PM
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Having paid cash for almost and car I've ever owned, put two daughters through College and Grad school, no credit debt what-so-ever, and have almost paid off my mortgage now(early), I can tell you there is no better feeling and you do need to start early. Now, if I truly want something, I go buy it.
Of course it helps that I am older and have always been financial responsible, and that I have a rather high paying job, but I have never lived beyond my means. "F" the Joneses!!!!

To the OP..............noticed you said "family out to dinner", so that implies kids........don't forget about College and don't forget to entrench what you have learned in them. I'm not saying pinch pennies, but as you now know, financial responsibility goes a long, long way.


And.............bottom line...............congrats!!!!

Last edited by Mazurfer; 03-27-2011 at 12:12 PM.
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Old 03-27-2011, 12:07 PM
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Originally Posted by STL05 View Post
It is a good feeling. Im 24 and have 3 cars paid off. I bought the 8 in march last yr on a three yr note and made my last payment on the first of this month. I have my cap one card and only use it for gas and pay it off when do it. I have no debt and at 24 with no debt is a good feeling. And Im not bragging just feels good. Congrats man!
You should pay for your groceries with your CCard and your gas with cash. You will save money just by doing the switch. Gas is cheaper when you pay with cash.

The OP is where I would like to be in about a year. I paid for my wife's schooling the past three years cash, the 8 has been half financed and will be paid in a year but the best one is the house to be paid off @ the same time. I will have no more school to pay for, house mortgage or car loan. That will be the best day because shortly thereafter I am going to send my Austin 1100 to be fitted with a custom tubular frame and 13b with a gigantic hairdryer. Priorities.

Cash is King.
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Old 03-27-2011, 10:57 PM
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Cool

Originally Posted by Mazurfer View Post
Having paid cash for almost and car I've ever owned, put two daughters through College and Grad school, no credit debt what-so-ever, and have almost paid off my mortgage now(early), I can tell you there is no better feeling and you do need to start early. Now, if I truly want something, I go buy it.
Of course it helps that I am older and have always been financial responsible, and that I have a rather high paying job, but I have never lived beyond my means. "F" the Joneses!!!!

To the OP..............noticed you said "family out to dinner", so that implies kids........don't forget about College and don't forget to entrench what you have learned in them. I'm not saying pinch pennies, but as you now know, financial responsibility goes a long, long way.


And.............bottom line...............congrats!!!!
we only have one daughter, she is in 10Th grade, so yes that was one of the resent to pay off all my bill, and wife, so that we can pay for her college unlike me and my wife. We want her to have a very nice college education!!!
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Old 03-28-2011, 01:33 AM
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Credit cards are great, for the financially responsible. The right card can get you percentage points back on everything you purchase, rewards to use for vacations, even refund checks once a year.
Nothing wrong with using a CC company that thinks they're suckering you into owing them money and actually making money for yourself out of the deal
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Old 03-28-2011, 10:05 PM
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congrats on paying yr car off! ive got a ways to go on mine lol

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Old 03-28-2011, 10:22 PM
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I can't believe how some people can live with so much debt, i was stupid at 18 and had 18000 in debt, thank god for my parents they paid it off, and now at 26 ( wife 22 ) we have 2 cars ( 1 paid off ) and only 600 on a credit card, and have 3 tvs beautiful furniture all because i picked up a book and took a week of my time learning how to stretch your money to its fullest potential. ( Also I recommend every read " The Wealthy barber " ) I'm just a private in the military making 40k a year, which is ok but not that much. Theres a guy on my street who is 60k in debt ( 20k is credit cards ) and has a kid another on the way and only 1 income.. I'm not bragging cause I know what debt feels like, Its almost like winning the lottery being debt free lol.
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Old 03-29-2011, 06:51 AM
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Originally Posted by Speed_8 View Post
I can't believe how some people can live with so much debt....
When I got done school I was 54k in debt. This happens to many folks and it sucks. It has been a monkey on my back. When some get out of school and don't work hard at paying it off right away the interest kills them.
I can't believe so many people get used to living in debt.
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Old 03-29-2011, 10:36 AM
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Originally Posted by Chad D. View Post
When I got done school I was 54k in debt. This happens to many folks and it sucks. It has been a monkey on my back. When some get out of school and don't work hard at paying it off right away the interest kills them.
I can't believe so many people get used to living in debt.

yeah you're right, debt has become extremely common, especially after school, people pay thousands of dollars to be whomever they want to be, but then just set the debt a side just like another expense, car home internet bill, which is a terrible trend thats going on. I know in some cases some people find it difficult to pay off the debt right after school ( difficulty finding employment ) but a lot of people choose to group it as if its any other heating bill or so forth and I know cause I was one of them, but thanks to my parents they paid everything off cause I screwed myself, its unfortunate not everyone has the same options.

Last edited by Speed_8; 03-29-2011 at 10:39 AM.
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Old 04-04-2011, 12:42 PM
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congrats man!! good job!
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Old 04-08-2011, 12:50 AM
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first thing I got sence paying off the car, mac book pro 13" and I love it!!!
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