Hi PF,
This won't be the most amazing or heroic tale of debt paying off any of you will every hear, it'll barely be a blip on the radar. However, I just paid off one of my loans; $2,000.00 AUD. The entirety of which was interest free, thankfully. I'm a 25yo male from Australia, for context.
This loan was made up by new tyres for my car, and a few performance modification parts (yes, I know, utterly silly and utterly irresponsible). I haven't bought a racecar part for about 6 months or more, nor any large or exuberant purchase in that time either. The good news is, I paid off that loan before the 12 months interest free period expired on the tyres (the other purchases were paid off within their interest free windows as well)
This feels good. I've got that debt snowball feeling that old mate Dave Ramsey goes on about. The next one is to tackle is a $7k loan which is a credit card consolidation (cut the credit card up about 2 years ago)... Then the big one, my $31.5k car loan which currently pays off at $195 a fortnight.
To tackle the $7k, I'm going to be paying it off at $200 a fortnight, and perhaps a little more if I have a particularly good pay week (contract to 35hrs, but still paid hourly). Regardless, this means I'll have a little more life money so I won't always be that one friend who can't afford a beer or parmy when out with mates, and I'll be able to enjoy life a little more with one less thing to worry about. Stoked AF.
So yeah, I'm still in a hole, but I'm getting there :)
Cheers,
Submitted January 16, 2018 at 04:52AM by MitchellDenham http://ift.tt/2DeKUTD
