Ok, not total freedom...



but close to it.

I had much success earlier this year with using the Debt Snowball method of paying off my credit cards... my only problem was that I didn't cut up my cards once they were paid off... So this time, after a HUGE setback... I've done the deed. As I was feeding them into the maniacal metal teeth of the shredder... it was a little scary, wondering if I'd be able to get by (just starting school, working less, with none of my debts/bills reducing....)... but after I was done... a huge weight off my shoulders. I may still have the debt to pay off (by the snowball method once again, of course)... but there's no way I can rack it back up like last time.

Thank. God.

Thanks JD for everything you've written about personal finance and sharing your success stories... I'd be much much muchhhh worse off if had no guidance/direction from you, your guest posters, and Dave Ramsey's debt snowball book.

Good luck to you, and congrats.
I hope you saved at least one in case you have a really big emergency or have money stashed in a savings account somewhere.
Nice picture, btw.

Congrats

Now you have no means or racking it back up as you said.

Against my better judgment (or maybe not) [I didn't realize judgment was spelled that way.. I always thought the e in judge stayed... oh well. off topic!], I did save one. The one with the lowest debt accumulated, and the lowest interest rate (8%) that's through my local credit union.

I've also got an ING account with more than 1000$ for an emergency fund. I know its an emergency fund, but I have the hardest time touching it for ANYTHING. I just like seeing it grow... and I can't wait to throw more and more in there each month.

The only reason I kept one card is because I'm barely able to afford my bills as it is (yea, I've cut back on things also to make this a bit easier to manage), and with starting school, and working less... having to drive 40 minutes to school each way... I need to make sure that I have a concrete way to pay for gas, should I happen to run out of money while waiting for my next bi-weekly check. I can't wait to have all my debts paid off so that I don't have to live check to check anymore... oh that day will be amazing.

Congratulations!

Are you out of debt or not?
anyway I applaud you for your courage, I have all but one of our credit cards locked away all with zero balance, yet I'm not seeing myself cutting them up, why? I just don't have the nerves.
although we're trying not to use the one we carry; which we almost did. Actually I can say we didn't use the cc because we use only did as a mean of of tracking spending when we went out of town the first week end of August plus I had the money waiting to pay as soon as I got to my computer.

Congrats and nice pic!

Your emergency fund growth will not counter your credit card interest if you have to use the CC for an emergency. Learn to touch the EF when appropriate.

I'm not out of debt. I needed to shred the cards in order to stop using them for 'emergencies', that probably weren't emergencies (guitar hero III? not so much.). I'm going to be framing the shredded cards in a small frame, and place it on my desk here at work, so I can remind myself that I have the control in this disastrous relationship. The cards can't shred me, but I can shred the cards.. HA!




You're absolutely right. Credit Card interest... 8%.... Emergency Fund interest... 3%. I just don't want to start dipping into the EF for gas money... Either way, I don't plan to use the CC ever. Only if 10000% necessary. I have control now. I had it before, and I have it again. If something real big comes up, I'll be using the EF, not the CC, like I always had before.



Thanks everyone for the kind words... It's people like you that make me want to succeed.

You should check out this http://moneysharp.blogspot.com/2008/10/tip-saving-your-money.html

It's a few tips that can save you money and maybe you'll realize more where your money is going.

Hope it helps and congratulations!

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Congrats, Brad -- your rock!

Wow, that's quite the stack! Congrats!

If you pay in full the credit card interest is zero, zero does not counter the loss of EF interest.