Saturday, August 15, 2009

Debt Free!!

Well, almost. We still have the house.

But all the Rosehaven debt is gone! The final payments were put in the mail yesterday. Oh, what a feeling of freedom we have right now.

Rosehaven still has a couple of business "loans" where I have the product on-hand and I pay back the loan as I sell the items. And the Urban Botanic license is structured that same way, as well.

But as far as traditional loans, where a set amount of money is expected by a certain day of the month—all gone, but the house! Yippee!

If you're familiar with Dave Ramsey, we're on step 2 1/2. That's the one where now that we have the $1,000 in an emergency fund and the debt is gone, we're trying to figure out how to live on one income, so that DH can quit one of his jobs before we move on to step 3, which is having 3 to 6 months of living expenses in savings.

I ran the budget and we could totally do it—if we were willing to give up cable, cell phones, and do all our Christmas shopping at D.I. But DH doesn't want to be on that tight a budget. Plus, if something broke or he got sick, we'd be in trouble. So while I'm trying to build my freelance business income up, he's going to stay status quo for a few more months.

Now playing on my iPod: Celebration by Kool and the Gang


Sandra said...

Joy, Joy, Joy!!!

Jeri said...

good for you!

Annette Lyon said...

That's got to feel SO good!

It's not nearly as cool as where you are, but about two weeks ago, I mailed off the final payment for the washer and dryer--and avoided paying any interest as a result. Woot! Felt soooooo good. One more debt GONE.

Allison said...

I <3 the feeling of being debt free! I can't wait until our cars are paid off! That sure will help a BUNCH!

Nichole Giles said...

Oh that must be the BEST feeling. Traditional loans stink, as does debt of any kind.

I'm with you--get rid of it all. Unfortunately, that's easy to say and much harder to do. Good for you that you did!


G. Parker said...

Way to go!! We are still paying off our pizza business, but it was wonderful to finally get all the taxes paid off last month!! Cool stuff!

Cindy Beck said...

Way to go! I'm doing the happy dance for you! :)

Luisa Perkins said...

Congratulations! Keep up the excellent work!