Thursday, April 29, 2010

a momentous day

I just set up the final payment for the very last of my debt.

I paid off my credit card at the end of August, 2007. I haven't carried a balance longer than a month since then - I even paid for my entire trip to Ireland and Scotland out of money that I saved for it! (And I kept that trip as inexpensive as possible: $3,440 for three weeks in the UK (including all expenses) is pretty good.)

I paid off my car in March or April 2008. I've never been very proud of paying that off early, since I felt badly that I didn't have the $6,000 in the bank to buy the dang thing outright. But, my 20-year-old car was totaled and I needed a new-to-me car, and I *have* been proud that I got a year-old car for 6k, so I guess I can feel neutral about that, when all is said and done.

And tomorrow, April 2010, I am issuing the final payment for my student loans. I finished grad school in May 2004, so a six-year payoff isn't bad. The debt was never high in the first place - something like 17k, so including interest, I've paid just under 20k for my degree. (well.. it was a bit more, as I DID pay a little as I went.) The loan's rate was low, but I wanted to get it GONE and it feels really really really good. I've been funneling $267/month toward it, so it'll be like getting a raise!

My short-term plan is to save up to buy a bed frame & mattress. Long-term, I'll expand my emergency fund (from 2 1/2 months' living expenses to something more like 4 months). Then I'll save for a replacement fund for my car. Then I'll save for a house downpayment - though I really don't anticipate buying EVER, it would be nice if it was a realistic option. I've been funding travel already, so maybe I'll expand that a little, but all in all, I am in a good place. And I am furiously knocking on wood so that I don't jinx it!

Yay me!