Tuesday, 7 July 2009

I'd rather be in debt

than be this person. I find that deplorable for so many reasons.

But, back to me .. I am one payment away from finalising my car loan. I have had this loan since I bought my first car about 20 years ago. Imagine the interest I've paid?! In 20 years I've owned 5 different cars and not paid cash for any of them - always refinanced and added to my original car loan. What a twat.

I'm so excited that I will be able to pay out this car loan next month. You've no idea the satisfaction I will get from telling the bank to close this account and delete my name from their system. I cannot wait to be able to tell them I am making the final payment. What's the bet they ask me if I want some more credit? Man, will they get a mouthful from me if they do ask.

This getting out of debt thing is very empowering.

Of course, I'm not too proud to ask for investors to contribute to the final payment - all offers accepted ;)

4 comments:

Debt Dieter said...

That's so exciting!

I'm focussing on my personal loan myself, as it includes an old consolidation loan plus the finance for my first car too!

Less than 10K to go now for me.

Angelica said...

Oh, this does feel incredible :) Congratulations :)

Beth said...

You are doing so great! I cant believe how quickly you are paying off your debts. Soon this will all be an unpleasant memory and you will be debt free!!!

Louise said...

thats really exciting! I love watching your numbers, you just keep plodding away at it steadily and get results, can't wait to see what you've achieved by the end of the year.