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WooHoo!!! Paid Off DH's Car!!

March 15th, 2011 at 05:54 am

Although I haven't posted in a few weeks things are going well for me here in our house. My DH just got a bonus and we used it to pay off his car so we are officially debt free! No mortgage and no car payments. I am so happy about that.

Since January 1 we have truly been living on my income and banking DHs so the savings account is fat and happy. Also, we are living within our spending plan and the checking account is overflowing as well. I am learning that through planning ahead we can get some nice things (when truly needed) and also have some good experiences (like my 50% off Groupons for a local restaurant we have enjoyed).

Retirement Goals. We did get reinvested in the stock market in our 401Ks which was a goal I had. Unfortunately, we did it a few weeks ago at the height of the stock market. I did divide the amount to reinvest over six months though so we will be "dollar cost averaging" in over the next six months. This feels like an ouch to have entered the market at the height as it has come down some, but we still have 15 years till retirement so I guess I will bite my nails and hang on.

Rental House Income. After two false starts in terms of rental houses (we contracted and then backed out of 2 different deals), we really do want to keep looking and purchase rental house #2 soon. We also just completed some light remodeling on rental house #1 and we need to get it rented again or sell it on owner carry. We will take pics and put it up for sale/rent on Craigs List later this week. I know most people seem to be against rentals but DH and I are very handy and we have always made money flipping our own houses so buying and fixing houses is something we are good at. God gave us this "blessing" and I feel like we have to use it to give us security for the future, especially as I feel like the stock market is a gamble. I would love to have rental houses which bring in $5000 income a month and then we will be totally financially free.

12 Step Meetings. I continue to attend my Debtors Anonymous meetings by phone as I am getting ready each morning. This reminds me to write down what I spend each day and stick with our spending plan. One day at a time we are financially "solvent" which makes me SO HAPPY!!! Blessings to all of you!!

7 Responses to “WooHoo!!! Paid Off DH's Car!!”

  1. momcents Says:


    WTG!!

  2. creditcardfree Says:

    Congrats on the car payoff!!

    Don't worry too much about getting in the market at a high. You made a good decision to get back in, since you have more than 10 years to invest. Stock market is back down, but it means you can purchase more shares with the same dollar amount. More shares that can grow over the next 15+ years!! It's all good.

  3. LuckyRobin Says:

    That's great.

  4. mjrube94 Says:

    Awesome. Congrats!

  5. Ima saver Says:

    Congratulations on the car pay off. I paid off mine too last month, but I have not told dh. He would just want to buy another car and mine only has 3900 miles on it. It will be a year old this week.

  6. Petunia 100 Says:

    That's wonderful, congrats! You've come a long way in a short time. Good job! Smile

  7. SavingsQueen Says:

    Thanks everyone. I have come a long way in two months, but I need to keep it up which has always been my challenge. One day at a time I need to remember the seriousness of overspending and debt. Thanks to all of you and your inspirtation.

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