Next Step in Financial Freedom – Student Loans PAID IN FULL

Recently, I did something we’ve been working towards for the last several years. Paid off my student loans IN FULL, over two years early!! This is one of the most glorious sights I’ve ever seen:


Notice the Paid in Full at the top? YES!!

Lots of people pay off debt, ahead of schedule. But I hope that by sharing this with the world, at least one other person will be impacted and be sure not to follow the same terrible path I followed.

When I was younger, I was very, VERY stupid with my finances. My parents certainly raised me to appreciate the value of the dollar, and I remember a couple times they tried to help when my spending habits started to go awry in my early 20s. But ya know… I was dumb and didn’t listen to them either.

Flash forward several years, and I got married with over $20K in credit card debt and another $23K+ in student loan debt right around the corner. I’m so thankful / lucky / BLESSED that Gaby still wanted to marry me even with all that. I paid off all the credit card debt several years ago, paid off our last car in 2013 (and bought our second vehicle in CASH earlier this year), and took care of some other stuff. We got new windows in the house, redid the kitchen, and a few other things. We managed to pay off Gaby’s student loans earlier this year too. So all that was left was my student loans.

So I got a notice from ACS about my monthly payment increasing in August per my graduated payment plan. The remaining principal was a little lower than I thought it was, I checked our savings and realized I could pay those loans off early and not have to worry about that extra payment. Last week, I made that payment online. I was a little sleepy and a little down / distracted with other things in my life at the moment, but it was a glorious feeling. The effects are just now starting to sink in… NO MORE STUDENT LOANS!!!

Now, the only debt we have is the house. And we’ll continue with the baby steps we learned in FPU, and hopefully I’ll be writing another post in the next several years after we pay off the house as well. We’re that much closer to financial freedom… and it’s pretty cool. Thanks Dave Ramsey, my ever-patient wife, and others that have encouraged us to right the ship. Hoping / praying I can instill better habits our kids so they never have to endure the painful lessons that I did.

Onward and upward!

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