Dec 28, 2009

Holy shit.

I just paid off my Discover card.  Completely.  And I plan on keeping it that way for a very long ass time.  The only reason I'd use it is if I had the money to pay it off again right away or we had an emergency that we couldn't use the savings account for.

It's a damn fine feeling.  I realized that we were finally able to do it when it occurred to me that we hadn't had to dip into the savings for anything over the last 6 months or so.  We have more than enough money every month to buy everything we need and a lot of what we want.  There was plenty in the account to pay off the credit card and still have a decent cushion.  Plus, with tax time coming up, we can put that money right back where it belongs when we get our refund.  In a couple months it'll be like I never took that money out at all.  And I just couldn't stomach paying as much as we were in finance charges when we had the funds available to NOT have to pay them.  The interest difference between what we earn with the money in savings and what we'll save from paying those soul sucking finance charges.

Of course, we won't see the money for a while.  I immediately took what we were paying and re-routed it to the Star card, which has less than half the interest rate, and a low balance.  Hell, maybe I'll just pay off the Star card with the tax return and put ALL the money towards the small loan we've got (or split it between savings and the loan).  I'd love to be almost debt free (with just the car payment) by the time we leave here.

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