Debt free is a great place to be.

Congrats!

It is a great feeling to have, especially in these times. Makes life a LOT easier.

Great!

We only owe 130k on the house and we have it planned to be paid off in three years

Congrats, your in in fine company. Now start building wealth!

quote:

Originally posted by cparktd:

I can't even remember the last time I owed anyone money, decades ago, but the relief and satisfaction always remain!

The grass cutting guy did my lawn yesterday. My wife chased him down the road waving $50 at him. He was laughing. He says its not a problem for him, he knows I'm going to pay up. He also said I'm his best customer. Some he has to chase down the road to get paid, even occasionally.

Doesn't really matter, as long as you have cash and a checking account more than adequate to cover any current debt.

quote:

Originally posted by cparktd:

Now get cracking on a Dave Ramsey 6 month emergency fund... If it applies to your situation.

I'm about halfway there now and the $450/mo tractor payment will be going towards that.

quote:

Originally posted by ArtieS:
You need a boat. Or a bulldozer...

1. I got NO interest in boats. Don't know anything about them, no interest in learning.

2. Been there, done that, broke even. And that's better than about 90% of people who succumb to bulldozer fever. Believe I'll quit while I'm ahead.

I've also got all the guns I want or am interested in, and have plenty of ammo for each. More than I'll ever shoot, barring full blown apocalypse. Sacrilege, I know...

Got at least one of every hand tool I've ever lusted after, pretty much likewise with power tools. About the only thing I can think of to spend money on is a cordless 4-1/2 inch grinder.

I'd like some sheet metal tools (shear and brake), but no more than they'd get used it doesn't make any sense and I've got no place to put them anyway.

Now if I were willing to go $50K or so in the hole again, I'd LOVE a dedicated shop with in-floor heat!

A great place to be. And not one found by accident. Well done.

I achieved being debt free in 2018 when I paid my mortgage off. I decided to buy a new motorcycle last December so I owe about 11 grand on it but I have enough money to pay it off which I will do come June. Not having to pay someone else every month is a liberating feeling and makes it very easy to save money for the future.

If you need something to spend $$ on...

<<<<<<<<< Up for adoption.

quote:

Originally posted by slabsides45:
If you need something to spend $$ on...

<<<<<<<<< Up for adoption.

???

We have been debt free since about 1986. Wife has been managing our finances since before we were married.

Came home one day, back then, and she told me she had paid off the house mortgage. I was stunned!

I said what are we going to do about our emergency fund? We might need that money if something requires us to go to visit your family in Germany?

She said we keep doing what we have been, but put that "payment money" into the savings account. We did. Have paid cash for everything since then.

Great feeling, and I heartily recommend it!

Congratulations! Barring this current setback I look forward to enjoying that feeling one day.

quote:

Originally posted by PHPaul:
Now if I were willing to go $50K or so in the hole again, I'd LOVE a dedicated shop with in-floor heat!

Save up for it, or build it paying as you go. I felt the money spent building my shop/motorcycle room was one of those expenditures that I, or my heirs, would gain back come time to sell. And I enjoy it almost every day.

@ ridewv:

At nearly 70, not sure the payback is there. Other priorities as well. I'd have to build Mrs. PHPaul a new house before a $50K shop would fly. No way there's time/finances to do both.

I did go crazy and buy that Milwaukee Fuel cordless 4-1/2 inch grinder tho. Bare tool $160 with my military discount.

Congrats, being debt free is a wonderful feeling.

Approaching 70 myself Paul.

But if it involves building the Mrs a new house..... no not worth it.

Those cordless grinders are nice. Unfortunately they're great for thieves.....

quote:

Originally posted by ridewv:
Approaching 70 myself Paul.

But if it involves building the Mrs a new house..... no not worth it.

Those cordless grinders are nice. Unfortunately they're great for thieves.....

Do you have one? I just tried mine. Not a lot of power, but I was using the small battery so probably the 5000mah battery will help. Motor felt pretty notchy when I was turning the spindle to the lock position to tighten the disc. I'm guessing that's a function of the brushless motor. Never had one of those before.

No I do not have one, my friend recently bought one though, I think Makita, and really likes it.

I don't use a grinder that often so my old corded Milwaukee is satisfactory for me.

Does this mean you’ll be less crabby in the future? If so the rant fo um will be far less entertaining. Great news though, I love being debt free!