A weight lifted off my shoulders.

Discussion in 'The Tiki Bar' started by Maggieiscrazy, Aug 29, 2019.

  1. Maggieiscrazy

    Maggieiscrazy Active Member

    265
    Oct 14, 2016
    Northern Wisconsin
    240 Sundancer
    5.0. Bravo III
    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.
     
  2. FootballFan

    FootballFan Well-Known Member PLATINUM Sponsor

    Jun 20, 2012
    Florida
    Marquis 59
    MTU Series 60
    sounds like time to buy a new boat!

    just kidding, congrats. Big Milestone.
     
  3. wyrman

    wyrman Well-Known Member

    Jul 12, 2012
    Tri-Cities, Wa
    2007 310 Sundancer
    Twin 350's, V drives
    1994 18' Bluewater bowrider
    Congratulations! We became debt free, including our house about seven years ago.
    It's a great feeling!
     
    Maggieiscrazy likes this.
  4. Maggieiscrazy

    Maggieiscrazy Active Member

    265
    Oct 14, 2016
    Northern Wisconsin
    240 Sundancer
    5.0. Bravo III
    We will definitely be in the market for a boat if ours sells in the spring. We’re not going into debt for one though
     
  5. Woody

    Woody Well-Known Member PLATINUM Sponsor

    Nov 20, 2007
    N. Wisconsin/Lk Superior
    2005 420DA
    Cummins 6CTA8.3
    Congrats....I know the feeling, I've been debt free several times:D
     
  6. Gofirstclass

    Gofirstclass Well-Known Member

    Apr 20, 2010
    Tri Cities, WA
    1995 550 Sedan Bridge,
    2010 Boston Whaler 130 Super Sport,
    1981 Boston Whaler 130 Sport,
    CAT 3406C's, 580hp.
    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.
     
    Todd320 likes this.
  7. JVM225

    JVM225 Well-Known Member GOLD Sponsor

    Apr 8, 2008
    Farmingdale, NY
    2002 410 Sundancer, Monaco Edition.
    3126 Cats.
    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.
     
    Creekwood and Maggieiscrazy like this.
  8. Creekwood

    Creekwood Well-Known Member GOLD Sponsor

    Apr 26, 2009
    Oakville and Georgian Bay, Ontario
    '97 330 Sundancer, Raymarine C80 suite with radar, Mercury 310 Hypalon w/8hp Yammie 2stk
    2X 454 carbs w/ vDrives
    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.
     
    JVM225 likes this.
  9. KevinC

    KevinC Well-Known Member

    Feb 25, 2011
    Long Island, NY
    2004 340 Sundancer
    1988 Proline Center Console - 90hp Mariner/Mercury
    1969 Boston Whaler
    Twin 8.1 V-drives
    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
     
  10. Ezsteps

    Ezsteps Well-Known Member PLATINUM Sponsor

    877
    Nov 14, 2015
    Lake St. Clair-- Michigan (MacRay Harbor)
    1999 400 Sundancer, YL310 Zodiac
    7.4 Mercuisers Horizons 380 hp ea., 9.9 hp Mercury
    What is this thing everyone is talking about?????"Debt Free"..... Just kidding... Congrats!!!!!
     
    Great Lakes likes this.
  11. Mac-Daddy-Minnesota

    Mac-Daddy-Minnesota Member

    69
    Aug 12, 2018
    Cottage Grove MN
    Sea Ray Sundancer 310
    twin 5.7 with alpha 1
    We paid our house off in time for the kids to start college. Not paying 100% but we are helping.
     
    Maggieiscrazy likes this.
  12. Maggieiscrazy

    Maggieiscrazy Active Member

    265
    Oct 14, 2016
    Northern Wisconsin
    240 Sundancer
    5.0. Bravo III
    We have a few years before our kids are ready for college. If they do go I hope they find other means to pay for it. But if we do have to pay for it. We’ll be prepared.
     
    Mac-Daddy-Minnesota likes this.
  13. BOB TYSON

    BOB TYSON Active Member GOLD Sponsor

    249
    Oct 5, 2017
    sarasota, fl
    2005 460 Sundancer
    Cummins 480 CE
    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.
     
    JVM225 and Jaybeaux like this.
  14. Todd320

    Todd320 Well-Known Member SILVER Sponsor

    901
    Jul 21, 2016
    St. Petersburg, FL
    2007 Sea Ray 320DA
    Twin V-drive 5.7L 350 Horizon
    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!
     
    villain style likes this.
  15. RollerCoastr

    RollerCoastr Well-Known Member

    Nov 15, 2007
    Cedar Point, OH / Miami, FL / MacRay Harbor, MI
    1997 400DA
    340HP 7.4 Mercruiser Bluewaters
    Garmin 741, 742, 8212, 24HD, Intellian I2
    1999 280BR
    Twin 250HP Merc 350 Alpha Ones
    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
     
    Woody likes this.
  16. The Bill Collector

    The Bill Collector Well-Known Member GOLD Sponsor

    Jun 2, 2008
    Tacoma, WA
    450 Sundancer
    3126 Cat's
    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...
     
  17. JVM225

    JVM225 Well-Known Member GOLD Sponsor

    Apr 8, 2008
    Farmingdale, NY
    2002 410 Sundancer, Monaco Edition.
    3126 Cats.
    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.
     
  18. The Bill Collector

    The Bill Collector Well-Known Member GOLD Sponsor

    Jun 2, 2008
    Tacoma, WA
    450 Sundancer
    3126 Cat's
    That was 3 years ago on a 10-year mortgage...
     
  19. Woody

    Woody Well-Known Member PLATINUM Sponsor

    Nov 20, 2007
    N. Wisconsin/Lk Superior
    2005 420DA
    Cummins 6CTA8.3
    My first house was 11.25%, 30yr fixed in 1979. Those were the days hey.
     
  20. Bridog

    Bridog Well-Known Member GOLD Sponsor

    Oct 4, 2006
    Gulf Shores AL / Brick NJ
    2016 19SPX OB
    Mercury 150 4S OB
    Just think how quick all of our houses would have been paid off, if it weren't for buying so many darn boats! ;)
     

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