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As of 1:48pm, Mr. BFS and I paid off our car loan!!!

We just have a mortgage left!!!  NO OTHER CONSUMER DEBT!!!  WOOT!!!  YAY!!!  YIPPEE!!!

FYI:  I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year.  I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home.  If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!).  Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!
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32 thoughts on “WE JUST PAID OFF OUR CAR LOAN!!!

  1. Split Cents, thanks a bunch and good luck on your last year!!!

    This $4600 hit hurts our cash on hand (our emergency fund hates me), but a 4.6% return is way better than the 2.15% return we were getting by keeping it in cash. Now that my husband actually has a contract for next year, I felt like we could live on the wild side of hardly any emergency fund for a month or two…we’ll see if the “gamble” pays off…

  2. Financial Bondage, yeah, I hated them too. 🙂

    Barb, thanks! How long have you been debt free? I’ve seen you mention it on other sites, but never got around to asking…

  3. Thanks MikeS and Jackie!

    Jackie, your post about letting go of the $10,000 in cash to cover a $10,000 debt actually started all of the extra payments. Thanks!

  4. Thanks Julie! I’m so happy!

    Money Reasons, I love the fact that the $330 is freed up, but we’re just going to be using it to fund our car account for our next car or maintenance in the meantime…I’m happy we have that option now, but it’s not nearly as much fun as I thought, lol. 🙂

  5. Thanks Evan!

    Bytta, Woo-Woo!!! I’m glad you stopped by! I hadn’t “seen” you in so long that I thought you lost interest in blogging, lol. Given the craziness that has been July for us, I understand getting “sidetracked” with real life. If I hadn’t posted three weeks in advance, there would have been nothing for the last two weeks, hahaha. I’m so thankful for guest posters and the fact I had time before our trip! Anyway, glad to see you back!

  6. Belatedly, CONGRATULATIONS! You’re right about the ROI of paying it off being higher than the savings interest – at that you’re making twice the interest I’ve got! *time to move the money again*

  7. Congratulations! We recently paid ours off too, and now we are ready to get serious about building our emergency fund. We paid ours off two years early (out of a five-year loan) and it saved us a lot of money because our interest rate was fairly high. Such a relief.

  8. Jenny, yeppers, we paid ours off 2 1/3 years in and it is a big relief! Congrats on saving on interest! I hate paying interest…on any loan, even our mortgage annoys me. We’ll see if we can shave anything else off of that too, lol.

    Rob, congrats and good luck! It feels like a small weight has been removed from my back…

  9. That is great! Hope to pay mines too. It’s kind of a pain in the neck having those debts. But as some say: “The one that has not debts has nothing to share”

  10. Let me add my own “woohoo to you. It is a place to be. did I miss what you are going to do with the new cash? Of course you could keep banking it for the next several years to for repairs and so you can buy your next car with cash. (not very sexy I know)

    Now to get rid of the mortgage–but no hurry there.

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