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Consumer Debt Free

December 11th, 2012 at 11:42 pm

Look over to the left on my sidebar. What do you see? Well, you don't see any credit card debt, because I logged on to bill pay and sent Citi MC $1,400.00.

It's been about 2.5 years I think, but I am consumer debt free once again! No credit card debt, no car loans, no student loans, NADA. Yay!!

Now the hard part: staying that way. Big Grin

Next I need to rebuild my cash savings. This will be my focus as we move into the new year.

Last night when I saw my mom, she gave me a check for $72. This pays for her cell bill for 1 year. I would pay for her cell anyway, but I appreciate the money. I tucked it into E Fund.

We had a nice dinner. Smile

Posted in Uncategorized | 18 Comments »

18 Responses to “Consumer Debt Free”

  1. PauletteGoddard Says:
    December 12th, 2012 at 01:14 am 1355274850
    1355274850

    That is terrific! Congratulations on finishing 2012 in grand debtfree style!

  2. LiveFree Says:
    December 12th, 2012 at 01:21 am 1355275303
    1355275303

    Fabulous! Congratulations....the hard work was worth it!

  3. Beawealthywarrior Says:
    December 12th, 2012 at 01:30 am 1355275815
    1355275815

    What a way to end one year and start another, congrats!!!!!!!!!!!

  4. rob62521 Says:
    December 12th, 2012 at 01:52 am 1355277126
    1355277126

    Awesome! Congrats!

  5. PNW Mom Says:
    December 12th, 2012 at 01:59 am 1355277552
    1355277552

    Congratulations! That is awesome!

  6. Petunia 100 Says:
    December 12th, 2012 at 03:13 am 1355281982
    1355281982

    Thank you, everyone! It is a happy day for me. Smile

  7. snafu Says:
    December 12th, 2012 at 03:31 am 1355283083
    1355283083

    Woooohooooo what a terrific accomplishment! I figure you're in an exclusive club of N Americans who have no consumer debt...there are more millionaires than those free of credit debt.

    Do you fund your various savings with specific amounts from each pay or sweep unspent sums at the end of each month or fund with Snowflakes? It takes a leap of faith but one effective way to build savings is to create a designated, low MER Dividend Mutual Fund or Index fund via automatic monthly contributions for a specific period like a year, reinvesting the dividends. After 12 months reassess whether you wish to continue the plan. I liken it to paying myself.

  8. Shiela Says:
    December 12th, 2012 at 03:35 am 1355283358
    1355283358

    Great job Petunia.

  9. wowitsawonderfullife Says:
    December 12th, 2012 at 03:42 am 1355283779
    1355283779

    Awesome!

  10. FrugalTexan75 Says:
    December 12th, 2012 at 03:51 am 1355284316
    1355284316

    What a great way to end the year!

  11. LuckyRobin Says:
    December 12th, 2012 at 04:20 am 1355286043
    1355286043

    Super Yay!

  12. starfishy Says:
    December 12th, 2012 at 02:43 pm 1355323402
    1355323402

    great news - congrats!!

  13. CB in the City Says:
    December 12th, 2012 at 03:38 pm 1355326710
    1355326710

    Good job.

  14. Petunia 100 Says:
    December 12th, 2012 at 04:26 pm 1355329607
    1355329607

    Snafu, yes to all three. I have a line item in my budget for savings, at the end of the month when everything is paid, if I have more than $500 in checking I transfer it to savings, and miscellaneous income is now going to savings.

    I'm not doing taxable investing because I still have room in my tax-advantaged accounts. Increasing those amounts are on the horizon, but I need more cash savings first.

    Thank you all for the well wishes! Smile

  15. NJDebbie Says:
    December 12th, 2012 at 05:25 pm 1355333158
    1355333158

    Excellent!!! Great job. /

  16. EarlyRetirementJoy Says:
    December 13th, 2012 at 03:28 pm 1355412519
    1355412519

    What a wonderful achievement. Enjoy the sensation of being consumer debt free - you are no longer a slave to any debtor, yeehaw!

  17. BoomerangBuck Says:
    January 5th, 2013 at 06:30 pm 1357410628
    1357410628

    Congrats!!! I can only imagine how nice a feeling that is for you! That's awesome! I look forward to reading through your previous posts to see what helped you accomplish this great task! Congrats again!

  18. snafu Says:
    January 5th, 2013 at 11:57 pm 1357430255
    1357430255

    I hope your tax advantaged accounts are participating the the equity advances 2012 and in those areas of the economy that look particularly promising for 2013. With the uncertainly imposed by politicians, be sure to set stop losses for each upswing in these perilous days

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