week 11

I was lying in bed last night and had a light bulb moment - I should just transfer the remaining $261 out of my savings account and pay off the line of credit once and for all, rather than waiting for new money to come in. Duh. So I woke up this morning and did just that. That's right ladies and gentlemen, the line of credit has a balance of $0.00. Shazam!!!

I went through my account history to figure out exactly how long I had been dragging that debt around for, and as it turns out I opened the account March 21st, 2006, and borrowed $4,290.00 to pay off my out of control credit card debt. The balance has gone down and up a few times over three years when I borrowed to pay tuition or another hefty credit card bill. And now it's gone. I seriously can't believe I dragged that debt around for three years and when I got serious about paying it off and got on the money diet it took just three months. Gah. Oh well, what's done is done, the debt is history, and now I can move forward.

Of course I'm not completely debt free yet - I still have three more monthly payments to make on my car, and there is the matter of the $3000 I owe to my mom. The car loan I'm not worried about - that was a $21,000 loan paid off over five years. It feels good to be at the end of that, and knowing the last payment will be done with before I leave my job. Whoohoo! The loan from my mom - well, that one is interest free (if it was from my dad, it would be another story) and now, facing paying for the wedding and paying for school, isn't the time to start paying it down. She wouldn't let me if I tried. One day though, when I'm in a better financial position, it'll get paid back. She knows I'm good for it.

So now I move on with the money diet now completely focused on SAVING moolah, rather than paying it back. OOOOOOOOOOOOOhhhhhhhhh Yeah!!!!!!