Wednesday, February 9, 2011

The Light at the End of the Tunnel

Todd and I are working on paying off our last debt, an American Express card that Todd has had for many years.  It was a balance transfer at either 2.99% or 3.99% interest for the life of the transfer.  It was well over $15,000 when I first met Todd, but now, it is just over $7,000.

Because we paid off Todd’s vehicle by the end of 2010, I feel a HUGE burden off of my shoulders.  It is a freeing feeling NOT to owe on a vehicle.  And even though we didn’t have too many debts, not having to pay that one debt every month feels as though it frees up a lot of my time.  Not only by paying down the debt and fretting about it, but it is one less payment I have to make every month.

We also had a small Home Depot debt that we paid off in January from a project we did in June of last year (12 months same as cash,) so that is yet ANOTHER less recurring payment we have to make every month.  It makes paying the bills SO MUCH EASIER when you don’t have all of these recurring debt payments to pay (and worry about) every month.

We are to the point that we can see the light at the end of the tunnel, and we are thrilled about it.  I still have a little bit of anxiety over paying off the American Express by the end of May, but seeing the balance go down every pay is so much fun to watch!  Seeing the progress makes me that much more determined to meet my goal!  I get excited after every payment I make and update Todd on the balance.  He could care less, but he likes the fact that we are out of debt as much as we are as it is.  He likes the fact that I want to live on cash-only and that I want him to be able to get a job doing something he enjoys without having to get a job “to pay the bills.”  

I am already seeing that debt freedom opens a lot of doors and gives us a lot of opportunities that we wouldn’t have necessarily had while loaded with debt.  What a great feeling.  A feeling that we can breathe and enjoy what we have (and own outright!) and each other!

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