Tuesday, May 13, 2008

DEBT FREE!!!

Well, almost anyway.

Jake & I paid off the last of our debts this morning excluding our house. (Wouldn't it be great not to have a mortgage payment anymore though!!!) We have no student loans, no credit card debt, no car payments, no hospital payments for Nathan, etc. IT IS THE BEST FEELING IN THE ENTIRE WORLD!!!

So what are we going to do with all of the extra money we're not paying out every month for debt? SAVE SAVE SAVE. The only reason Jake and I didn't fall flat on our faces when Nathan was born was the extra money in savings we had until insurance money and our tax refund came. We'll save up a good down payment for a new car within the next year or so and we'll put money away for rainy days and other medical necessities for Nathan. Alas though, even though we'll be saving a ton of money by not having any debt to speak of, the cost of living has risen so much for food and gas that we won't have tons of money left over every month either.

I just had to post our awesome accomplishment!

2 comments:

Mom & Dad Ellinger said...

You are to be commended for this HUGE accomplishment? You were able to figure out how important those other insurance policies were and were smart enough to take them out. What many people may have considered a financial disaster with Nathan's hospitalization has ended up being a blessing to provide you with the necessary income to be out of debt. You are sooooo smart to save instead of thinking that you can take the money and splurge! Keep up the good work.

Sheena said...

That is amazing!! It must feel so good to be in that kind of a situation, especially with no car payments too! That's cool. It is such a huge blessing to not have the kinds of debts other than car and house payment. I have to thank my financially smart, but sometimes cheap husband that we don't have those kinds of debts either. :)