Well, the time has come. I must say goodbye to an old acquaintance. I have know this “friend” for 4 years, 8 months, and 6 days. Alas, while my farewell will be sad for this old “friend”, for me… IT WILL BE AWESOME. I say goodbye to my first debt…
Today, I sent the last (YES LAST) payment off to American Honda and I now OWN my Honda Accord. It is paid off! Yahoo!!! After much hard work, determination, and deciding to DO something about my debt, instead of complain about my debt, I have succeeded in paying off my car early. I am so excited, as is my wife. Yes, there were bumps in the road (haha, no pun intended). But, we did it. We paid off our car. Now, I know it is only four months early, but, I only started this in April. So, I actually paid 8 months of payments in 4 months. So, I am very proud of what we have accomplished. Now, I can put what I was paying towards the car towards our other auto. I should be done with it by the middle of September (maybe sooner?) and then we attack the zero interest credit card.
Even with this success, I am slightly bummed. (But, just slightly) I have managed to pay roughly 80 dollars A DAY towards my debt since July 18. My goal was 100 dollars, and I will HAVE to find more money if I am going to make my debt-free goal of 10-10-2005. BUT, even if I don’t (and I think I will), I KNOW that both of my cars will be free and clear by then. What a relief.
Here is the chart from my start until now, along with updated pie-chart at the top right-had column of this blog.
|Account||April 16th||Paid So Far||08/06/05|
Please note, I use the day I send the payment in to calculate these numbers. The check will not clear for a few days, but I count when the money is no longer available to me. Also, I sent in slightly more than the actual payoff quoted today, to account for the interest that will accrue between now and when the check is cashed.
Mini-eBay update: We are well over 500 bucks profit, looking for perhaps 300 more! Yay!
Thanks for ALL of the encouragement and positive vibe that I have received. Hope this blog helps you in some way, or at least, encourages you to really, really, really THINK about your finances.