I feel like a kid on Christmas… actually I have no idea how that feels because I never believed in Santa. Anyway, I’ll keep it short and sweet. Informative and serious articling will resume next week. (maybe)

St Nicholas and Black Pete

I paid my $5,000 creditcard off in August 2010 once and for all but struggled with getting out of the credit habit for a few months. In November of 2010 I picked up Dave Ramsey’s TMM book, devoured it and somehow found renewed inspiration to just keep going. (While I’m still a big fan, I’ve since somewhat abandoned Dave’s 7 baby-step plan and I’m figuring out my own way up and out)

It’s been quite the journey

On September 3, 2009 I owed $15,939.28 and on December 21st, 2011, 15 months later I STILL owed about $15,500… and then it started dropping…

$13,108.94 on February 3, 2011
$9,417.90 on April 3rd, 2011
$7,825.95 on June 3d, 2011…

As of this morning, January 4th 2012 I owed $540.15. I tweeted that I was going to do this tomorrow, but screw it. I went back out into town tonight to move the cash from one bank to another, I wiped my checking out completely to use the money to pay off my studentloan by transferring it online after depositing it at another bank… So I’m broke.

But it’s ok because I can now post this…..


A few extra for emphasys:


In about 12 months and 2 weeks time I paid off my $15,500 student loan, an average repayment of $1,262.96 per month. (interest not included!) That’s almost 10 awesome vacations worth of cash right there.

If you include my regular mortgage, mortgage prepayments and studentloan payments my total debt-repayment for 2011 comprised 62.5% of my NET income. Ouch. Granted I did that myself, I didn’t have to… I could have spread it over the next 10 years but I want freedom, financial freedom.

It’s over now. Because I’M DONE.  My mandatory debtpayments on my housedebt now make up about 16% of my net income, anything beyond that is up to me.

I’m debt-free baby, debt-free except my house.

It’s only up from here! I’ll shut up now because I promised to keep it short, but I really didn’t. I also feel the need to insert bad youtube vids of bad songs because I’m giddy inside.

Sorry, I had to! (Hey at least it doesn’t auto-play) Please feel free to add additional BADness in the comments and join in the celebration. 🙂



PS: IMG source here and here. For more on the story of St Nicholas and Black Pete read this.

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