Wednesday, January 23, 2013

Debt free

Years ago, when the housing market was still going strong, we took out a home equity line of credit on our home. It wasn't some frivolous thing that we decided to do; we didn't go on an extravagant vacation or make some huge home improvement. Nope. We used the money to purchase a car for Pat's (fairly) new job (at the time, obviously), become a partner in his company, and to help a child of ours with their education. Nothing fun.

I have disliked having to pay this loan monthly. (Pat doesn't notice, he doesn't handle the finances.) Last year we discussed this loan and I expressed to him how I wanted to be done with it. He, thankfully, agreed. We paid a large sum into the loan, then we opted to double our monthly payments. By taking the initiative in paying off our loan we would actually be finished paying it off in March. Instead we decided to finish it off now, which I did today. (Yay!)

So, as of now, except for our home, we are completely and happily debt free. I am so very grateful that we have the funds to take care of this and no longer have it hanging over our heads. It feels so good.

We should celebrate, right?!


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