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Post by merry27 on Feb 25, 2021 21:46:12 GMT
We paid off our house today! We built it 15 years ago and it was the only debt we had. I am really proud of this- I am a SAHM and our goal was to be 100% debt free by the time we turned 50 (we are 46). I don't want to tell any of my friends or family IRL because I don't want it to seem like bragging, but I figured this was a safe place to share. If you paid off your house, what did you do next? I feel like we need to have "some" debt to keep our credit scores up.
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quiltz
Drama Llama
Posts: 6,707
Location: CANADA
Jun 29, 2014 16:13:28 GMT
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Post by quiltz on Feb 25, 2021 21:48:43 GMT
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Post by bbkeef on Feb 25, 2021 21:49:47 GMT
Fantastic! We have about a year to pay on our main home and I am so excited! You should celebrate!
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Jili
Pearl Clutcher
SLPea
Posts: 4,363
Jun 26, 2014 1:26:48 GMT
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Post by Jili on Feb 25, 2021 21:51:11 GMT
Congratulations! It's a true accomplishment. We did this last year. It's a great feeling. The only bad thing about it is that I really don't like this house all that much and probably won't ever get to move out of it now that we own it outright. LOL.
Our house payment was pretty low (our last refinance was amazing and even with paying above the monthly payment, we were paying a lot less than most homeowners seem to-- not to mention that this is an older, crappy, inexpensive house), but it's been nice to have those payment funds to put toward tuition.
Next on the docket for us-- still more college tuition, new roof, new AC unit. Probably a new dishwasher, too. Ugh.
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The Birdhouse Lady
Drama Llama
Moose. It's what's for dinner.
Posts: 7,173
Location: Alaska -The Last Frontier
Jun 30, 2014 17:15:19 GMT
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Post by The Birdhouse Lady on Feb 25, 2021 21:52:52 GMT
Congratulations!!!! That is something to celebrate!!
We have 9 more payments and ours will be paid off too!!
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georgiapea
Drama Llama
Posts: 6,846 
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Post by georgiapea on Feb 25, 2021 21:52:57 GMT
Congratulations! A great accomplishment.
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Post by buddysmom on Feb 25, 2021 21:53:40 GMT
No, you don't need debt to keep up your credit scores.
If you have credit cards, use it every six months or so to keep them from closing it--even if it is only $5.00, the amount doesn't matter.
We paid off ours 4 years ago this month. I told my family I will either look like a hero (if the stock market goes down) or not very smart (if it goes up).
Of course it went up (over 50%) during that time, but it's a great feeling.
Congratulations.
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Post by mom on Feb 25, 2021 21:58:45 GMT
Congratulations! We paid ours off and became debt free a few years ago and it is truly life changing not to have to worry about payments. You just sleep better at night knowing that you can cash flow things. My advice? Buy yourself a small treat (like a purse or something) and then get to saving cash. Many will blow through any extra money each month and not save. Saving your payment (instead of sending it to the bank for a mortgage) will help cushion your savings really quick!
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milocat
Drama Llama
Posts: 5,437
Location: 55 degrees north in Alberta, Canada
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Post by milocat on Feb 25, 2021 21:59:10 GMT
I don't want to tell any of my friends or family IRL because I don't want it to seem like bragging, but I figured this was a safe place to share. If you paid off your house, what did you do next? I feel like we need to have "some" debt to keep our credit scores up. Congratulations!! I hear you, I'm a very humble person when it comes to what have so sharing something like this here doesn't seem like bragging. Paying and bills and credit cards is still keeping your credit score up. |
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Post by snoopy on Feb 25, 2021 22:04:34 GMT
Congratulations! That’s really exciting news. I’m looking forward to paying ours off too, but it won’t be for another 10-12 years.
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Post by mnmloveli on Feb 25, 2021 22:05:26 GMT
CONGRATULATIONS 🎉
You should be proud of your great accomplishment !
Go out and celebrate 🍾 🥂
or at least get take-out !
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Post by katlady on Feb 25, 2021 22:10:23 GMT
Congratulations!!
Ours will be paid off in 2022!! We aren’t worry about our credit rating because we use credit cards for almost everything. We plan to use the “extra” money to start remodeling and updating the house.
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Post by jenjie on Feb 25, 2021 22:12:27 GMT
This is so exciting and something to be proud of!
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Post by yodutchess on Feb 25, 2021 22:15:32 GMT
Congratulations!
We started saving more aggressively for retirement.
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teddyw
Drama Llama
Posts: 6,846
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Post by teddyw on Feb 25, 2021 22:17:16 GMT
Congratulations!
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Deleted
Posts: 0
May 16, 2024 13:01:33 GMT
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Post by Deleted on Feb 25, 2021 22:18:39 GMT
Congrats!  |
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iowgirl
Pearl Clutcher
Posts: 4,133
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Post by iowgirl on Feb 25, 2021 22:19:27 GMT
Congratulations! That's a big deal and I can just imagine how great you feel!
We paid all three kids (state) college tuition and each a new (reasonable) car. That put a pretty good ding in our reserves, but a few years out from the last one graduating and things are looking good again! Plus they all have good jobs!
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Post by huskermom98 on Feb 25, 2021 22:21:07 GMT
Congratulations--and brag away, it gives hope to the rest of us who can finally see that the end is within sight!
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Post by Delta Dawn on Feb 25, 2021 22:23:38 GMT
Yiippppeeee! That’s super great news! You must feel great!
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Post by cadoodlebug on Feb 25, 2021 22:23:40 GMT
If you paid off your house, what did you do next? I feel like we need to have "some" debt to keep our credit scores up. We paid off our current house and a rental property. Best feeling in the world. Our credit scores are stellar despite not having any debt. Well, we have credit card debt that is paid off every month. Congratulations to you and your DH! |
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Post by freecharlie on Feb 25, 2021 22:28:01 GMT
That is Awesome!
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ellen
Pearl Clutcher
Posts: 4,506
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Post by ellen on Feb 25, 2021 22:29:53 GMT
Good for you! It is a huge deal to not have a mortgage. We paid off our house after my husband inherited his parents' estate. We were in our 30s and had built the house just a few years before. We started putting more money into our retirement and college accounts for our kids. Our kids were pretty young at the time and we knew his parents want us to use their money on them. Our older daughter graduated from college debt free and our youngest is about to start and we have the money for it. My husband and I are going to retire in our 50s. It was kind of a shitty way to get ahead in life, but we want the same thing for our kids someday.
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Post by workingclassdog on Feb 25, 2021 22:30:31 GMT
BRAG it girl.. that is freaking awesome.......you are way ahead of the game!
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tracylynn
Pearl Clutcher
Posts: 4,865
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Post by tracylynn on Feb 25, 2021 22:31:44 GMT
Congrats! I just bought a house at the end of 2019 on a 30 year mortage.
I have a goal though of having it paid off in 12-15 years.
As far as CC's. I'm debt free on those as well. But I do use one CC to put groceries, gas and extra purchases on each month. I pay it off every month, so no big deal.
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Post by Monica* on Feb 25, 2021 22:33:29 GMT
So HAPPY for you! I agree that this is a safe space to share our good news without it seeming like bragging. Such a great sisterhood here. Enjoy!
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Post by destined2bmom on Feb 25, 2021 22:37:20 GMT
Congratulations! That is a great accomplishment!
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mimima
Drama Llama
Stay Gold, Ponyboy
Posts: 5,019
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Post by mimima on Feb 25, 2021 22:38:02 GMT
Congratulations
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Post by MZF on Feb 25, 2021 22:38:55 GMT
Congrats! It's a good feeling, isn't it?
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Post by chaosisapony on Feb 25, 2021 22:42:48 GMT
How exciting, congratulations!
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gram2sojo
Junior Member
Posts: 72
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Post by gram2sojo on Feb 25, 2021 22:50:13 GMT
I was able to quit a part time job and less on call at the hospital where I worked, and allowed me more time to spend with the fantastic guy I met 2 yrs before!!  |
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