For something that has almost no impact on my everyday life, it's amazing how much effect being out of debt has on me. I finally, just last month, paid off the very last dribs of credit card debt (the last bit of which was left over from when I switched back to paying cash for everything rather than using a credit card and paying it off monthly), so I owe nothing to anyone.
On a very concrete level, this has no impact. I am able to buy almost exactly as much stuff as before - which is to say, not a house, but a car or anything else I decide to go into debt for. I am not suddenly spending the hundreds of dollars I was sending to debtors every month - it's mostly going into savings (which is a real thing, but doesn't "do" anything until I spend it someday).
But the psychological relief is amazing. I worked on this for so many years, very consistently even if not always very effectively. And now...I'm done. Instead of debt I have a few thousand dollars* in the bank.
Way to go, me.
(* This is actually a slight exaggeration, but not for long.)
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5 comments:
Tam, that is such great news! In this economy doesn't it feel so much better to have no debt and have money in the bank?
Yes! Although I have been fortunate that, so far, the bad economy hasn't affected me in any ways I'm aware of, other than reducing the value of my 401K.
Congratulations! Remind me again -- when do you get your BA? Or have you already?
I should get my BS in Math this coming May :-)
Congrats, Tam!
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