(Debt) Free at Last
@ElizabethWallace (12074)
United States
March 22, 2016 11:04am CST
This morning I made the last installment payment on my car. This might not seem like a big deal, but it means that I am finally debt free. I dug myself into a very deep hole several years ago when I trusted a business associate who ended up having zero integrity.
I don’t have much patience, but I am organized and fairly stubborn. So I made a plan to fill that hole and followed through. I replaced the funds in my retirement account and paid off all of my debt, except for the car. I forced myself to accept making car payments, since this allowed me to have a normal life.
But now my car is paid off, and I can figuratively thumb my nose at the individuals who lied to me and tricked me into that hole. I live in paradise, have money in the bank and zero debt. I also have integrity and a clear conscious. That is something they cannot say truthfully.
Are you stubborn when it comes to reaching your financial goals?
37 people like this
41 responses
@arthurchappell (44998)
• Preston, England
22 Mar 16
Glad you are free of your debts - mine are still quite substantial
4 people like this
@ElizabethWallace (12074)
• United States
23 Mar 16
Sorry, make or follow a plan and be stubborn about following it. Good luck.
2 people like this
@Asylum (47893)
• Manchester, England
23 Mar 16
@ElizabethWallace It is always a good feeling to eradicate the final debt.
2 people like this
@ElizabethWallace (12074)
• United States
24 Mar 16
@Asylum It sure it, and by putting away money each month, I hope to have a nest egg big enough to cover anything unexpected.
2 people like this
@ElizabethWallace (12074)
• United States
23 Mar 16
It was the only one left. I paid the other debts off one at a time, until they were all gone. At the same time I was replacing my retirement funds, with interest. The car was the last debt.
1 person likes this
@celticeagle (167071)
• Boise, Idaho
23 Mar 16
That is a shame that business associates are like this. What a great thing to have your car paid off. I remember when I had mine paid off. What a proud time that was.
2 people like this
@ElizabethWallace (12074)
• United States
23 Mar 16
It will be fun to put that money in the bank now. Good times. It's a Toyota and my mileage is low. I will probably be able to keep it for more twenty years. But, when I am super old, I may sell it and buy a driverless car. 
2 people like this
@celticeagle (167071)
• Boise, Idaho
24 Mar 16
@ElizabethWallace ....Or a hover craft. That is what I want.
2 people like this
@ElizabethWallace (12074)
• United States
24 Mar 16
@celticeagle Gee, hovercraft would have a dual purpose. It would get people around and sweep the streets at the same time. 
2 people like this
@much2say (55669)
• Los Angeles, California
22 Mar 16
Congratulations! It's off your shoulders now - you are now free!!
It surprised me to hear about this hole - I know how organized you are. A big booooo on those bad folks who tricked you like that and thank goodness you were able to get out of it.
1 person likes this
@much2say (55669)
• Los Angeles, California
29 Mar 16
@ElizabethWallace That's exactly what they are. I'll bet they did that to other "friends".
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
I find that I am a terrible judge of character. I knew these people and their families for over six years. I also knew people who were their friends for more than twenty years. Sheesh.
1 person likes this
@ElizabethWallace (12074)
• United States
25 Mar 16
@much2say It is called situational ethics. They act one way in some places, quite another in other situations. I think they are monsters with zero integrity.
1 person likes this
@LdeL0318 (6400)
• Philippines
23 Mar 16
@ElizabethWallace I am currently working to pay for debts. I want them to be settled so I can start saving.
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
@LdeL0318 That is what I did. I am now back to saving again. It will be fabulous when there is a big chunk of money in my account.
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
Spend no money except for food and transportation to work and back. That is how I did it. Everything else went to debt payment and retirement savings.
1 person likes this
@allknowing (136588)
• India
23 Mar 16
That calls for celebration. Have a party and invite that person who caused all the trouble.
2 people like this
@allknowing (136588)
• India
23 Mar 16
@ElizabethWallace Surely I did not expect you to listen to me (lol)
2 people like this
@ElizabethWallace (12074)
• United States
23 Mar 16
Well, the first half of your comment makes sense, but I wouldn't want to be in the presence of the trickster. I might tell him exactly what I think of him. I would rather not.
2 people like this
@ElizabethWallace (12074)
• United States
23 Mar 16
@allknowing I always listen, even when people are making jokes. There is wisdom out there.
@ElizabethWallace (12074)
• United States
23 Mar 16
I have the good pension and no debt, but owning a house where I want to live won't happen, unless something magical happens. No way to save up $100K for a down payment.
@ElizabethWallace (12074)
• United States
23 Mar 16
There is a question relating to your comment. People are asked, "Do you have money or kids?" Seems you cannot have both.
1 person likes this
@fawkes62 (1276)
• United States
23 Mar 16
@ElizabethWallace I'm not saying I need a lot of money, but enough to not constantly be worried about it would be nice. It does seem that for most people you can't have both.
1 person likes this
@ElizabethWallace (12074)
• United States
24 Mar 16
@fawkes62 Having a plan and sticking to it helps with the anxiety. After I trained myself to do both, I was far less worried. When each individual debt was paid off, and that amount rolled into the next one, the worry lines in my forehead relaxed some. They are all gone now! Good luck.
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
Happy times, that's for sure.
1 person likes this
@DeborahDiane (40295)
• Laguna Woods, California
23 Mar 16
Oh, yes. I enjoy working towards our financial goals. A few years ago, my husband and I paid off his Mercedes and my VW convertible. Now, we occasionally talk about replacing our cars, but they run great and we really don't want to spend money on new cars when we only drive the current ones about 7,000 miles a year.
1 person likes this
@DeborahDiane (40295)
• Laguna Woods, California
24 Mar 16
@ElizabethWallace - Yes, we drive a LOT less after retirement, don't we?
1 person likes this
@ElizabethWallace (12074)
• United States
24 Mar 16
@DeborahDiane Thank goodness for that. Commuting into to San Gabriel Valley was my least favorite part of working.
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
I'm down to 4,000. I used to do that in a couple of months. Retirement changes things.
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
The car was not a trick. It was a safety issue. I was driving the old style Rav4 and it was unstable in wind. The trick was a business run by people who had all sorts of proof of their integrity, but it was a facade.
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
Me too. I used to tell students not to bother "getting back" at anyone, let the universe do it.
1 person likes this
@goodwrite (22)
•
23 Mar 16
First thing, congrats on being debt free. It is always a great and relieving feeling to be without any debt on ones head. In your case your organized attitude along with your stubbornness to get off the debt bore you fruit. Yes, in our life we do come across people who play with our trust but such people are a lesson for us to be more careful in our dealing with people and to dig deep when it comes to trusting them. As for me I too am quite stubborn when it comes to tackling my financial goals. I am really really afraid of any debt and rather prefer to go without a thing for some time if I don't have enough means. At the same time I do make it a point to work hard and save for the things I need. Free of debt means a good and comforting sleep :)
@ElizabethWallace (12074)
• United States
23 Mar 16
It sure does. So will building that emergency fund back up. It is too small now, but soon it will be where I want it.
@ElizabethWallace (12074)
• United States
24 Mar 16
@goodwrite You are right about the one brick at a time analogy. But I am now in the position to put a bucket load away each month. That feels even better.
@goodwrite (22)
•
24 Mar 16
@ElizabethWallace I am very sure your fund will grow to your satisfaction. Your organized attitude and resolute will make it happen just like it made you free from debt. Savings are like buildings where you put one brick at a time and see it grow. All the best.
@maezee (41988)
• United States
25 Mar 16
Congratulations! That is amazing. I bet it feels like a huge burden off your back. I am struggling with a $5000 credit card debt that I worked down in the last few months from $8K. Due to living far beyond my means - a lesson I am learning the hard way. It will be wonderful when I can look at those statements and see a giant goose egg.
@mom210 (9117)
• United States
26 Mar 16
yes, we are usually debt free except the house, well until the twins and lots of medical bills followed by the loss of hubbys job. We decided to make the situation work for us and he headed back to school to finish that degree. So we are living on a part time income and trying to pay off all those debts. While he was unemployed we kept "afloat" by charging it. Now we are trying to dig out of a hole too.
@ElizabethWallace (12074)
• United States
23 Mar 16
Putting back all my retirement money was the best feeling. The amount was six figures and the first number was not small.
1 person likes this
@JamesHxstatic (29413)
• Eugene, Oregon
22 Mar 16
Congratulations, @ElizabethWallace! That was not always easy, I'm sure. I know that it feels so good. That car payment you have been making will feel like a pay increase to you now.
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
Yes, and it is going directly into my savings to build it back up. My goal is $1K or more per month now.
@JohnRoberts (109846)
• Los Angeles, California
22 Mar 16
It is a big deal to be debt free. A financial weight has been lifted from you.
1 person likes this
@ElizabethWallace (12074)
• United States
23 Mar 16
I did mine all alone too. Maybe that makes it easier. No one else is around to mess things up.
