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A Boy, A Girl, and The Marine Corps: A Love Triangle: Financial Freedom!

A Boy, A Girl, and The Marine Corps: A Love Triangle

"I cast my lot with a Marine and where he was, was home to me." ~ Anonymous.

Friday, December 17, 2010

Financial Freedom!

I love payday don't you? :)

My husband and I decided that when I graduated we would continue to live on just his income to use my income to pay off all of our debt as fast as possible. Now, that is not always realistic. Life happens, Christmas happens, but we've been doing pretty good in the four months that I have been earning a full time paycheck.

I am happy to report that two months ago we paid off the remains of the crappiest credit card we had. It was a Bank of America card. They wrote me a lovely letter shortly after my husband deployed to let me know that they were going to hike my rate up to something astronomical. I could opt out of this by calling them. The catch you ask? I could never ever use my card again. Simply using my card meant that I was agreeing to the rate hike. Pretty crappy. My husband had the same card and a few years ago they hiked his rate up from 7% to 19% without even telling us. We balance transfered that one to a better rate with our current credit union.

So, with that momentum behind us, we focused on a loan. We took out this loan earlier this year to help pay for all of my school stuff. Licensing exams and review classes and review books for my licensing exams all really add up fast. It was a much needed loan so that I could pay for all of those things. Well, as of today, that is officially paid off too! A three year loan paid off in 9.5 months! We are on a roll!

I will say, we credit our success to Dave Ramsey. His system works. Granted, we have been paying extra on everything too, but we have been using his system for months now (even before I graduated) and have been having great success with it! I highly recommend you look him up if you have debt. We have never attended his classes, and don't own a single book. I simply go on his website and read all that I can. I also have his app for my phone (which was also free).

A good friend of ours told us about him when he and his wife took his class at their church. My co-worker told me today that they are also on his plan and having great success. Her and her husband took his class and they are going to lend me all the books and stuff. Right now, his website is having a sale on all his material. I'm seriously thinking of buying up some of it while it's cheap!

MAN! I'm so stoked! All we have left is two half full credit cards and my student loans. That means in less than a year we will be free of debt from credit cards and in another year after that, debt free completely! I can't wait!

Financial freedom here we come!

2 Comments:

Blogger Marine Wife Unplugged said...

Good for you!!!!! I love hearing stories about people getting debt-free. I have to mention that I had the same exact problem with my Bank of America credit card, and received a letter when my husband deployed about rates rising. And then... they rose again when he returned. YUCK! So that was the first card to get cut up and canceled as soon as we could. I'm really happy for you! The less debt we have, the more we can invest and save. Yay!

December 17, 2010 at 11:10 PM  
Blogger Mandy said...

congrats!

December 18, 2010 at 5:17 PM  

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