We Paid Off The Truck!

We paid off the truck today!

Pop_the_Top_and_Celebrate

Never fear, my frugal readers, we won’t be celebrating with champagne. I can’t drink it, and Hubby doesn’t like it. We’ll be popping open some super highbrow juice boxes (which you know I used coupons on) and toasting each other tonight. To living without debt! To having a vehicle paid off! Hooray! It’s a very liberating feeling. Even better is that this comes on the day Hubby starts his TRS classes in preparation to leave the safety net of the military.

We paid the truck off using the CD that matured recently, as well as the money we set aside each month for the minimum truck payment + some overage. We put the remainder of our CD towards opening a new CD at +4% interest, and to paying off our next highest interest debt (the line of credit). As of today, we owe $22,331.37 , $3,777.52 of which is high interest (above -4%). Putting this money towards paying off the truck instead of champagne, a new T.V, or something else frivolous has bumped our date of freedom up by 2 months!

We now have 5 debts instead of 6!

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4 thoughts on “We Paid Off The Truck!

    • Congrats to you, too! When it’s paid off, have you considered continuing to put the amount you were paying into savings? Since you’re already used to living without that money, it’s a pain free way to save!

      • That’s fantastic! Continuing to save debt payments or put them towards other debts is the easiest way to save or pay off a loan early!

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