Goodbye, Ol’ Friend!!

Recently I said goodbye to an old friend. I’ve only known her for a few years, but they were a painful few years and I couldn’t wait to get rid of her. It was just something about her. She was always asking for money every month. I even paid her a little extra hoping she would go away. Finally I got fed up and said, “I don’t want you in my life anymore!” And so I paid her off just recently. What a relief! Her name was Car Debt.

My car is paid off and it sure does drive differently! I paid off my car loan in about two and a half years, rather than than the five years it was supposed to take! It just didn’t make any sense to have a whole bunch of cash laying around making 3% when my car loan was costing 6.5%. So I decided to use my cash, nearly deplete my emergency savings, and just pay the thing off. I figured with the car payment gone, I could rebuild my emergency fund pretty quickly. Best decision I’ve probably ever made.

I’m still on my quest to pay off debt. I plan on being completely debt free by the end of 2009! The only debt I have left is a credit card at 0% that will be paid off at the end of this year and those pesky student loans! Remember that “the borrower is slave to the lender”. King Solomon.

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