My Inner Economy.
In the last few months I have been blessed with the desire to become debt free.
I have sold stuff and canceled services (cable, the fastest of the high speed internet) all in the name of becoming debt free.
I have now taken a step back and looked at what I have accomplished.
In the span of six months, I have taken my debt load of $45,500 and turned it into a debt load of $39,164. However, through creative money maneuvering I now own my car and have much, much lower APRs. You can find the details
here (personal website).
This may not sound like much, but that is because I left out the best part!
I also have cash-on-hand. My cash reserves total about $11,000. This money will be used to pay off my 0% intro rate in August when it becomes due, as well as serving as an "Emergency Fund" until that date. When the day comes to pay off my 0% card, I am hoping to have more than what I owe on it so the 'excess' cash becomes my new emergency fund.
So, to be completely accurate, my 'net' debt load would currently be $28,164 or about 60% of what it was August of last year!
It is a great feeling to reflect on!
Six months ago, I wouldn't have thought that I would be so happy to have lived a half year on bare minimums and "cheap" entertainment.
As you strive to pay off your debts, please keep a picture in your mind of that day when the last bill gets paid!
You (and I) will love it!
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