Comments on: A Decision Has Been Made

By: RachelB

RachelB — Fri, 10 Apr 2009 02:34:54 +0000

Great job reducing your debt! You have inspired so many people with your blog.

By: Samantha

Samantha — Thu, 09 Apr 2009 12:52:52 +0000

In regards to Suze Orman’s latest advice. I think eight months worth of living expenses is totally unrealistic. That would take me YEARS to save up! And more years just letting my high interest credit cards keep stacking up just seems like an absolute waste of money. I say save AND put money towards your credit cards. When the time comes and you need to rely on those cards during a job loss……what if they are close to the balance and you can’t use them anyways! Sheesh.

Kudos to you and your success with debt reduction. I think your way was fantastic with building a small emergency fund at the same time as your major debt reduction. Now that you’re almost through you can put that money you were using for debt right into that savings account.

By: emmi

emmi — Wed, 08 Apr 2009 02:20:38 +0000

Looks like you are leaving yourself a nice cushion, even with the payout. Doing it this month would have been pushing it. I hope it all works out, and I’m glad you are going to be checking in with us every now and then to let us know how things are going.

By: Sarah

Sarah — Tue, 07 Apr 2009 20:53:48 +0000

I’m so glad I came across your blog. We are going through a difficult time with paying off debt right now. Your blog is an inspiration and makes me believe it’s possible!

By: Pat

Pat — Mon, 06 Apr 2009 21:38:18 +0000

Tricia
That is fantastic news! I would have done the same thing. Just knowing you are done with that and can build up your savings at “gazelle speed” will be worth it! I am looking forward to being where you are in three years or less. This new advice from Suzy has me in a quandry because our tax return is large enough for me to pay off one cc which means I could put that minimum payment on top of the minimum for another card and pay it off faster. We have 1K in savings and had to use almost all of it on auto repairs in March. Now I have to put part of our return into the savings. Just know that you are an inspiration and have made a difference in my effort to eliminate debt. I’d love to hear about your business as well – especially if it’s something others could adapt and do from home. Thanks again!

By: Neil at Debt Advice For Free

Neil at Debt Advice For Free — Mon, 06 Apr 2009 20:48:37 +0000

Congratulations on achieving your target.

I think the bottom line is that you need to consider your own situation when planning your finances and not just blindly take the advice of any expert.

Neil

By: HS@ourdebtblog

HS@ourdebtblog — Mon, 06 Apr 2009 16:17:57 +0000

I took money from our savings and paid off our credit card, we are now debt free from CC’S. I’m also going to use some of the money from savings to buy a new HDTV! The plan now is to save the money we used to send to credit cards.

By: Betty

Betty — Mon, 06 Apr 2009 14:11:05 +0000

I emailed you a long time ago and I am happy for you to have meet your goal. I am curious about your business you and your husband have worked hard to mmet your goals. Take care of that little boy. We have an 11 year old grandson that we take care of and he is the most precious and important thing in our life. Any information you share about your business will be appreciated. I have enjoyed your story and good luck in the future.

By: Colleen in MA

Colleen in MA — Mon, 06 Apr 2009 13:13:25 +0000

Makes sense to me! It’s an obviously well thought-out plan. I’m so excited for you and happy to hear that we’ll still be hearing from you from time to time. Win-Win! :0)

By: Another Reader

Another Reader — Mon, 06 Apr 2009 12:45:37 +0000

Congratulations on what you have achieved. Not just paying off the credit card debt, but also the financial knowledge you acquired along the way, and the ability to plan and make well reasoned financial decisions for your family.

The business and the income it can produce will be instrumental in achieving your new financial goals. I look forward to hearing how you paid off the student loans, saved a large amount of money for major purchases as well as emergencies, and began investing for the future.

By: Jan

Jan — Mon, 06 Apr 2009 11:38:23 +0000

You’ll get no argument from me! The psychological benefits of paying off the debt on time will be huge. If the payoff date were further away I’d advise you to hold on to your savings.

This is so exciting!

By: Mr Plasectomy

Mr Plasectomy — Mon, 06 Apr 2009 10:09:59 +0000

Congratulations on accomplishing your goal BEFORE your target, that is impressive.

I am of the mindset that as long as you have some savings even after you pay off your debt that it is ok to make that last payment to the credit cards and be done with it.