Friday, March 29, 2013

No More Credit Card Debt!


This is how pumped up I feel right now!

I made the final payment to our no interest credit card today, since that expires in April. It felt A.M.A.Z.I.N.G! I can not believe we have no more credit card debt. Any charges we make are now paid in full each month. It's a great feeling.

I actually enjoy paying in cash more than charging stuff but since we get miles, we kind of enjoy going on free flights, so we find ourselves charging our gas and miscellaneous expenses and then just paying it off in full each month. It's sometimes scary to charge, thinking we may slip back in to a bad place, but we haven't. We have willpower, focus and commitment now. We didn't have those things a few years ago. My, what progress we've made!

Yes, we still have a car loan. Two to be accurate. I'll update more on those at a later time. We also have a savings account now. I still need to post the balance on here so I can visually see it growing and use that as motivation. I know I'm lacking with my updates, but I did want to get on here and let you guys know this big one! Today is a good day : )

19 comments:

  1. Congrats! I just became credit card debt free this month too and it's incredibly! Great job :)

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    1. Thanks Katie and congrats to you! It feels great :)

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  2. WOW! Congratulations! That must feel amazing! We do the same thing that you do with the credit cards - earn the points, but we still have other cards carrying debt.

    Strut your stuff! No more credit card debt!

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    1. Thank Jennifer, it does feel great :)You'll get there. Keep pushing forward.

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  3. What a great feeling that must be. Well done. I have the same issue now in that I have a new credit card, which I clear every month and use mainly because I can get points to redeem against rail travel here (which I do a lot of). There are some things that you need a credit card for, online purchases etc., and constantly adding to my existing debt wasn't helping, even if I made sure to pay off any new charges immediately. I am glad to have finally learned how to use a card smartly and to my advantage and in a few months I should be posting similar news to the above as the last debt on my other credit card is finally cleared. I'm only going to hang on to it until I manage to build up more emergency fund because unfortunately, for the moment, that credit is my emergency fund. But by the end of the year, that card will be long gone and I'll just have the one that actually gives me something back. Fantastic achievement and I bet ye feel on top of the world this weekend!

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    1. Thanks! I like your idea of just having one that gives you something back. Right now I use one that has a $69 annual fee for the miles. I got it when I was flying a lot for work and it made sense. Now I don't fly that airline much so I think I'll let it end eventually and only use a card without an annual fee.

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  4. Wonderful!! I use my c/c all of the time in order to collect points but have never had a large balance or ANY interest at all as I pay it after each charge. Isn't it a great feeling to be in CONTROL!! Congratulations!

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    1. Thanks Jane! It is a great feeling to be in control. It's different for me, but I like it :)

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  5. GREAT job! Enjoy the feeling! I too use my CC for everything, but then turn around and pay it the next day once it posts. Ok, I used to. Now I am trying to hold off until the end of the month and then pay it all. But still, I know what I have left at all times (like today, I have $245 left until 4/12), so I will never spend more than what I have.

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    1. Thanks Tanner! That's a smart idea to pay it off fast.

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  6. It's such a good feeling, alright! :D And I agree about willpower and commitment. You didn't say you'd be ending your subscription. Anyway, you seem capable and very much aware of your obligations, so go on. The free flight reward is such a good thing after all. ;]

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