Thursday, December 1, 2016

Another Debt Bites the Dust

Woo Hoo!!!!!!!!!!!!! another debt bites the dust and I am so happy.  That leaves us with a mortgage and car loan and that is it.  The mortgage will be below $3000.00 after this last payment.  I can just taste the freedom when that debt is gone.  Ideally I would like for it to be gone by the end of January 2017.  What could be better?  Having it paid by the end of December but I am not sure if that can happen.  AFter that, it's just the car.

The light at the end of the tunnel is getting brighter and closer.  I can't tell you how exciting this is for me.  It really means freedom.  At least it does for me.  Now just because the debts will be gone soon doesn't mean we are financially set.  Far from it.  We need to build up an emergency fund.  I would like a minimum of 6 months but prefer a year.  In addition, we need sinking funds to pay for items such as home maintenance and/or appliance replacements.

But still I am excited about being mortgage free.

What are you looking forward to when it comes to finances?  Or are you dreading something?

4 comments:

  1. I just paid my final payment off my furniture that I bought and seeing the balance at zero feels soooo good. The£50 a month I was paying off that willnow go into a savings account so it doesn't get wasted away. I love getting out mortgage statement in January to see how low it is now. When it first went under £30,000 I was so excited! My next goal is to see it drop below £20,000
    Hopefully by then, some other debts will be paid off and then I can use that money as overpayments. I try not to get depressed about the fact we are still paying the mortgage as we took out a huge loan on it in the 90s just to clear debt n we've nothing to show for it. But what's done is done and dealing with it has taken years. We will get there one day.

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  2. Congratulations on almost having your mortgage paid off!
    Now get that car note finished then start saving up to replace your car so you don't need another loan on those again. 8-)

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  3. Whooohoooo!

    What am I dreading? Well dh is retired, and I a sahm. While we were very wise financially, and have a nice income it's still a fixed income. I am dreading college payments, but not as much as I am fervently hoping my kids choose to go to college. I want them all to go to college as dh and I did! I would never gripe about the cost, and my parents didn't either. Grades, yes, cost, no. And there were half a dozen kids in my family on one salary! We have planned for college, but I confess, that as the eldest moves through high school, the numbers become more shocking. But, I say, THEY NEED TO GO TO COLLEGE! My parents sent us, and I will cheerfully send mine.
    So happy for you. Have a blessed Advent, and thank you for your blog. I really enjoy reading it.

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    Replies
    1. Thank you so much. My freedom is becoming more and more important the older I get.

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