As of today, we are 100% completely debt free. What does that mean? Well,
– No credit card balances.
– No student loans.
– No car payments.
– No mortgage.
– No "No payments till 2009 on this furniture" type loans.
– No money borrowed from family members.
– No Nothing owed to anybody.
From now on, our money will work for us. Things will not happen to us, we will happen TO OUR MONEY. Now, this doesn’t mean we don’t have BILLS, no, of course not! We have plenty of those! But bills don’t charge INTEREST.
Now, we can start taking advantage of the most powerful device we have, our income plus the time value of money. From now on, the Time Value of Money is working FOR us, not AGAINST us.
I didn’t think it would really make any difference in my emotional attitude, but this morning when I logged into Sallie Mae’s web site and saw that my account was PAID IN FULL, I just got… Bubbly! No other word to describe it!
It feels even better to know that we have an emergency fund in place to cover 3-6 months’ worth of expenses. Some people keep credit cards around for emergencies, but I hate credit card companies. They are evil, and I refuse to have a bank hold sway over my financial freedom. They can all take a long walk off a short pier… over HOT LAVA. They are the kind of companies who would kick a puppy , push a nun into traffic, and make disparaging remarks about Her Majesty just to make a buck.
I encourage everyone to take a deep look at where your money is going, and see what luxuries you can really do without, and start attacking that debt full force. You will be GLAD you did!!
You think bills don’t charge interest? Try paying one late…
No thank you!