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.)
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?
ReplyDeleteYes! 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.
ReplyDeleteCongratulations! Remind me again -- when do you get your BA? Or have you already?
ReplyDeleteI should get my BS in Math this coming May :-)
ReplyDeleteCongrats, Tam!
ReplyDelete