Goodbye, Ol’ Friend!!

June 4, 2008


Recently I said goodbye to an old friend. I’ve only known her for a few years, but they were a painful few years and I couldn’t wait to get rid of her. It was just something about her. She was always asking for money every month. I even paid her a little extra hoping she would go away. Finally I got fed up and said, “I don’t want you in my life anymore!” And so I paid her off just recently. What a relief! Her name was Car Debt.

My car is paid off and it sure does drive differently! I paid off my car loan in about two and a half years, rather than than the five years it was supposed to take! It just didn’t make any sense to have a whole bunch of cash laying around making 3% when my car loan was costing 6.5%. So I decided to use my cash, nearly deplete my emergency savings, and just pay the thing off. I figured with the car payment gone, I could rebuild my emergency fund pretty quickly. Best decision I’ve probably ever made.

I’m still on my quest to pay off debt. I plan on being completely debt free by the end of 2009! The only debt I have left is a credit card at 0% that will be paid off at the end of this year and those pesky student loans! Remember that “the borrower is slave to the lender”. King Solomon.

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3 Responses to “Goodbye, Ol’ Friend!!”

  1. hank Says:

    And boy, doesn’t it feel good? That’s what is stopping me from getting a new ride now; well, that and the cost of gas, but having that car debt over your head is never fun, but is nice to let slide away and move on! Nice job!

  2. Thanks, man! I’m just that much closer to freedom. What an amazing feeling it is to know that I don’t owe anything to anyone except God!

  3. Pete Says:

    It is amazing how freeing it can be to be debt free. I agree – my car does drive better now that it doesn’t have a loan attached to it..!

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