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A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Sat Jul 26, 2014 12:18 pm




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 Post subject: FRREEEDDOOOMMM!!!
PostPosted: Wed Sep 03, 2008 1:47 pm 

Joined: Wed Sep 03, 2008 1:01 pm
Posts: 3
Location: New Hampshire
Ok, not total freedom...

Image

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.


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 Post subject:
PostPosted: Wed Sep 03, 2008 2:40 pm 

Joined: Mon Feb 04, 2008 7:35 am
Posts: 1148
Location: Maryland
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. :)


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 Post subject:
PostPosted: Wed Sep 03, 2008 3:19 pm 

Joined: Sun Feb 17, 2008 4:39 am
Posts: 322
Location: Woodstock, CT
Congrats

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

_________________
When you're good to others, you're best to yourself - B. Franklin


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 Post subject:
PostPosted: Wed Sep 03, 2008 3:24 pm 

Joined: Wed Sep 03, 2008 1:01 pm
Posts: 3
Location: New Hampshire
peachy wrote:
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. :)


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.


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 Post subject:
PostPosted: Wed Sep 03, 2008 3:53 pm 

Joined: Wed Jul 02, 2008 1:42 pm
Posts: 67
Location: New Hampshire
Congratulations!


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 Post subject:
PostPosted: Wed Sep 03, 2008 4:54 pm 

Joined: Sun Feb 17, 2008 4:39 am
Posts: 322
Location: Woodstock, CT
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.

_________________
When you're good to others, you're best to yourself - B. Franklin


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 Post subject:
PostPosted: Thu Sep 04, 2008 2:47 pm 

Joined: Thu Apr 10, 2008 12:51 pm
Posts: 17
Congrats and nice pic!


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 Post subject:
PostPosted: Thu Sep 04, 2008 4:14 pm 

Joined: Fri Aug 31, 2007 7:48 am
Posts: 286
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.


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 Post subject:
PostPosted: Fri Sep 05, 2008 5:15 am 

Joined: Wed Sep 03, 2008 1:01 pm
Posts: 3
Location: New Hampshire
DebtFreeCrusader wrote:
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.


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!


mallow wrote:
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.


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.

Everyone Else wrote:
*Misc. Congrats*


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


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 Post subject:
PostPosted: Tue Oct 21, 2008 7:47 am 
User avatar

Joined: Sat Oct 18, 2008 5:05 pm
Posts: 42
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!

_________________
My blog Money Sharp
My blog Ha Ha Daily
I like driving fast


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 Post subject: deleted
PostPosted: Mon Nov 03, 2008 6:59 am 

Joined: Mon Jun 11, 2007 8:13 am
Posts: 211
deleted deleted deleted deleted deleted deleted


Last edited by 144mph on Mon Dec 20, 2010 11:40 am, edited 1 time in total.

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 Post subject:
PostPosted: Wed Nov 26, 2008 1:35 pm 
Site Admin
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Joined: Thu Mar 29, 2007 4:58 pm
Posts: 948
Location: Portland, Oregon
Congrats, Brad -- your rock! :)


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 Post subject:
PostPosted: Fri May 15, 2009 6:59 pm 

Joined: Fri May 15, 2009 6:36 pm
Posts: 12
Wow, that's quite the stack! Congrats!


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 Post subject: Re:
PostPosted: Mon Feb 22, 2010 8:16 pm 

Joined: Tue Dec 04, 2007 3:49 am
Posts: 149
Location: Australia
mallow wrote:
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.


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


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