A weight lifted off my shoulders.

Congratulations! We became debt free, including our house about seven years ago.
It's a great feeling!
 
I just paid my last house payment. It feels like a huge weight was lifted off my shoulders $2500 a month felt like it was draining me. My wife and I promised each other we would never go into debt again. I know nobody cares but I can’t believe how good it feels to be debt free.
Congrats....I know the feeling, I've been debt free several times:D
 
Congrats on getting the last check stroked out for the mortgage. That's gotta make you both smile!

Our home has been debt free since day one, but only because we both owned homes that we sold to buy this one. I have a loan on Beachcomber and I'll probably be planted before it's paid off. Oh well, I don't miss it and it doesn't hurt the budget a bunch.
 
Congratulations! Now start investing that money every month. I paid off the mortgage on my current house 14 years ago and the financial freedom it gave me was fantastic.
 
Congratulations! Now start investing that money every month. I paid off the mortgage on my current house 14 years ago and the financial freedom it gave me was fantastic.

Bingo. Debt free for over 10 years and its a great place to be financially. Life’s other challenges don’t go away, but very lucky to be debt free. The key thing is not to outspend your income. Some people include debt capacity in income and that is where they get into trouble. Although maybe at these low interest rates there is less risk—— for now. My first mortgage was 14.5%. I think that is what had me laser focused on getting out of the bank ASAP on everything.
 
I just paid my last house payment. It feels like a huge weight was lifted off my shoulders $2500 a month felt like it was draining me. My wife and I promised each other we would never go into debt again. I know nobody cares but I can’t believe how good it feels to be debt free.

Congrats - it is a great feeling we did it just in time for kids college - so it will be a few years before we feel the effects ;)

-Kevin
 
I just paid my last house payment. It feels like a huge weight was lifted off my shoulders $2500 a month felt like it was draining me. My wife and I promised each other we would never go into debt again. I know nobody cares but I can’t believe how good it feels to be debt free.

We paid our house off in time for the kids to start college. Not paying 100% but we are helping.
 
Great feeling! Congratulations! We managed that 20 years ago after reading the book "The Millionaire Next Door". Decided that pretending we had more than we did was not worth the pressure. Best decision we ever had.
 
We did the Florida prepaid plan, about 80$/month per kid, that together with FL Bright future scholarships, the kids college tuition/books/fees and most of the lodging at any Florida school is basically zero. The house is paid off, but there might be a home equity line open to pay for some depreciating asset, oh yeah, the boat! Fortunately, we are getting that paid off in another 3 years. Once the boat is paid off, that will be a great feeling, or I’ll get a bigger boat!
 
I lived debt-free for a year. We sold the house and the condo and lived on the paid-for boat and drove paid-for cars. It WAS a very freeing time for sure. I honestly didn't know FICO scores went that high! Somehow the junkmail industry figured it out too. We had fallen off of so many mailing lists that the mailbox was often empty for days at a time.

There was an early episode of Cheers where Sam decided to sell his beloved Corvette and buy a used Plymouth instead. He was describing how much money he was saving - so much so that he could afford to drive a Corv...

Yep - that's me. My current mortgage is the biggest I've ever had. lol
 
We are on target for 5 years to the mortgage free plan. Boat, RV, cars etc all paid off and the house will be the final straw @ 2.87% interest it's not too bad though...
 
We are on target for 5 years to the mortgage free plan. Boat, RV, cars etc all paid off and the house will be the final straw @ 2.87% interest it's not too bad though...

2.87%? Amazing how low the rates are! Mortgage interest rates were in the mid teens when I bought my first house. When I bought my current house in 1995 I jumped for joy because I got an 8% 15 year fixed mortgage. Made extra payments and finished it in 10 years.
 
2.87%? Amazing how low the rates are! Mortgage interest rates were in the mid teens when I bought my first house. When I bought my current house in 1995 I jumped for joy because I got an 8% 15 year fixed mortgage. Made extra payments and finished it in 10 years.

That was 3 years ago on a 10-year mortgage...
 
2.87%? Amazing how low the rates are! Mortgage interest rates were in the mid teens when I bought my first house. When I bought my current house in 1995 I jumped for joy because I got an 8% 15 year fixed mortgage. Made extra payments and finished it in 10 years.
My first house was 11.25%, 30yr fixed in 1979. Those were the days hey.
 

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