Tuesday, August 26, 2008

Red letter day!

Or perhaps it should be called a black ink day...

I've spent my morning paying out the "buyout" money that finally showed up yesterday. I paid off one credit card with a balance enough to buy a new small car, a 2nd that was enough to buy a new Korean car, a Sears account that had enough on it to buy a nice used car and a furniture/electronics store account with a sizable balance that was still interest free if I paid it off before January.

I just freed up about $900/month in payments...

Of course, that's going to go towards the other ones now to "knock them down" and not into the "general fund"! (This said with the grandchildren's magazine drive, a grandchild's birthday and Christmas all coming up, along with both daughter-in-laws birthdays, and our own...)

We've been here before, but when we got here before I'd always get laid off again; this time things should stay on a more even keel! (I hope!!!)

The "five year plan" at this point is to ride out the real estate slump, then hopefully sell this place and move out of the city a bit...we'll see!

Off to open my first savings account in 28 years; they didn't withold state tax from this and I need to put it away now or I won't have it next year!

May the week be kind to each of you!

alan

8 comments:

ryssee said...

Let me be the first to say congratulations! Nothing like being free from the cards. Just did it myself this year for the first time. Whatta feelin!

nerdgirlsspace said...

Congratulations! You must feel so good to be able to pay down some debt!

zilla said...

WooHOOO! You paid off the entire fleet! And the best part is, it's not a fleet you can drive, so just think all you'll save in ga$!

Seriously, though. I'm so glad for you. Getting rid of debt and it's interest is a very wise and freeing move!

FIST-BUMP!

Connie in FL said...

How Wonderful!!!
Good for you!

robin andrea said...

Congratulations, alan! That is such wonderful news. Paying off debt and opening a savings account, why that's almost un-American! Good for you. Save on, my friend, it's the new revolution.

Deb said...

I hope the RE slump eases soon too!

CrackerLilo said...

Sounds good, sounds good! Knew you'd have a plan, but it's nice to read that things are working out, anyway.

I related all too well to that line in Montgomery Gentry's new song, "I learned that credit cards don't mean I'm rich." Now I don't use anything but my debit card or cash unless I absolutely have to.

Another *fist-bump!* to you!

Green tea said...

Good for you Alan..now cut them into pieces.. :D