Credit Card Completely Paid off!

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Yes, I’m really excited to announce that I have completely paid off my credit card as of this past weekend. I have wrote many posts about my credit card situation and it has been an ultimate goal for a while now. I am finally glad to announce that my long journey has finally reached an end.

For those who do not know, I originally had a credit card debt of about $9,000.00 as of last year May. Over this past year I have been trying really hard to fight temptation to not buy anything that I don’t need and only worrying about paying off this debt.

So now that it’s finally paid off, what’s my next goal? What am I now going to do since my debt has finally been paid off? It’s simple. Save, save and save. Invest, invest, and invest. That is going to be my next goal. Over this past year, paying off my debt has definitely been a great learning experience and through the process I’ve learned to budget effectively and to live frugally.

Now my main goal is to save up for my down payment for my first home. I plan on purchasing my first home in about 3-4 years from now, so I have plenty of time to start saving. I live in Maryland and houses here are quite expensive. If I want to save for a 20% down payment, I’m going to need about $70,000. That’s going to be my next 4 year goal.

Having this credit card debt paid off has relieved a lot of stress off my back and now I’m ready to continue my financial journey.

[Photo Credit]

  1. Congratulations! This is a big milestone!

  2. Thanks story, I’m really excited and so relieved.

  3. Congrats on getting rid of the credit card debt! I know that is a good feeling and something to be proud of. That serves as inspiration for other as well…

  4. Good for you!

    I’ve just set up my own zero credit card debt challenge for myself yesterday. And I’m hoping to rid myself of this burden soon.

  5. And you did it “cold turkey”, right?

    Come visit the carnival of all substances. Even tho money isn’t one, I’m stretching it and letting you in. http://everyoneneedstherapy.blogspot.com

  6. Don’t close the card, just cut it up now. The available credit will help increase your credit score.

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