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Location: Tenn. | Just paid off all of my cc debt and I thought I would feel a ton of empowerment, but unfortunately I feel AWFUL!!! I guess it is the guilt of letting my spending get out of hand back when I was in college, and now I am paying the price for it. I have spent the past hour thinking of all the NICE things we could have bought with that huge chunk of money.
I wanted to start this year off right by getting rid of all of those cc payments and we have recently refinanced our house since interest rates are at an all time low. I have helped to cut our monthly bills in half now, but I still just feel sick over all that money I wasted away years ago!
Ugh..... vent over!
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Go Get Em!
Posts: 13503
   
Location: OH. IO | FEEL GOOD ABOUT IT!!!! DONT BEAT YOURSELF UP.Its overr and now paid for ROCK ON!!!! DONT DO IT AGAIN LOL. CONGRATS! |
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 Shelter Dog Lover
Posts: 10277
| Good for you! Quit beating yourself up, lesson learned and on to a better future without cc debt hanging over you. I have relatives that are in their mid 40s and keep getting in deep debt over and over again, some people don't learn. |
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 Money Eating Baggage Owner
Posts: 9586
Location: Phoenix | Congrats!! I am working Dave Ramsey's plan and going to Financial Peace University. I am a long way off from paying off all of mine but we are on the right track. Think of what you CAN buy with all the money you've freed up. Congrats again!!!!! |
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Veteran
Posts: 170
| Girl I feel your pain. I just sent in my finals payments on my CC debt and I feel eaxactly what youre feeling. Ashamed and guilty for all the money i spent and STUPID. I think everyone has to learn the hard lessons of borrowed money and spending beyond your means at some point. Some people never get them paid off, so CONGRATS and now you can go on and save instead of sending in that monthly payment :)   |
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  Witty Enough
Posts: 2954
Location: CTX | That is awesome!! Congrats! And please don't feel bad about it.... water under the bridge. You can't change the past, but you sure can change the future, and you just did!
Sooo, take it as an expensive lesson, and don't go there again.
Maybe keep putting aside the monthly payment you had till now, and you will have a very nice piggybank come next year!
But again, that is a great thing to do, not many people can say they did that all on their own, so feel proud and look what's ahead!
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 Fact Checker
Posts: 16572
Location: Displaced Iowegian | You should be doing the "happy dance"....Like Mama always said...."no sense crying over spilled milk".....Your future is looking good. And I agree....Put that money that you were paying to the cc companies in savings program. |
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 BHW's Lance Armstrong 
Posts: 11134
Location: Somewhere between S@%&# stirrer and Saint | Congrats! That kind of debt eats up a lot of money if you pay them off slowly. Years ago when Finances were tight I paid off CC and cut up my cards. I haven't had a CC in 20 years. If I don't have the money I don't buy it now. |
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Tried and True
Posts: 21185
Location: Where I am happiest | We just last month got our CC paid off. WoooHooo!! Is all I can say. Hate paying all that interest! We refinanced our house last year also. We didnt take any equity out, we kept the same payment and dropped it to a 15 year loan. By doing that, we knocked off $77,000 in interest alone. Another WoooHooo!!! Now we just have $8,000 left owing on one truck and that will be paid off with our tax return. Freeing up all that monthly payments is like giving yourself a good pay raise! Once one bill is paid off, use what that payment used to be and put it towards another monthly payment. You will be amazed how fast that extra money a month pays that bill off. It is so liberating to get debt free.Now with what isnt going out with all those other bills, we can put it towards the house and we will be able to have our house paid off in 6 years. Never again will we ever finance anything. If we cant pay cash, we will wait untill we have saved enough to buy it outright. I dont want to spend another penny in interest. It's such wasted money! |
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 Sorry I don't have any advice
Posts: 1975
Location: Sunnyland Florida |
You fixed it, be proud!! Look forward! No where to expand looking back. It's just like running barrels - you go where you look!
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Veteran
Posts: 111
| Embarrassed to say how long its taken me to learn the same lesson but Lord willing I hope to be out of debt within 2 years - working 2 jobs and sadly selling good broodmares so my expenses are less and I can pay down CC. Lucky you to be all done with the "pruning" ... Now its fill up your piggy banks!!! |
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Location: Tenn. | Thank you all!!! I haven't decided what to do just yet with all those credit cards??? I know closing those accounts is not the best idea, as it does not improve my credit score. I read somewhere to freeze them in water and if you see something you want get them out of the freezer to thaw, by the time they are done unthawing you have had plenty of time to think it over....and not use them HOPEFULLY!!! |
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Witty Enough
Posts: 2954
Location: CTX | RaschPerformanceQHS - 2015-02-22 10:25 AM Thank you all!!! I haven't decided what to do just yet with all those credit cards??? I know closing those accounts is not the best idea, as it does not improve my credit score. I read somewhere to freeze them in water and if you see something you want get them out of the freezer to thaw, by the time they are done unthawing you have had plenty of time to think it over....and not use them HOPEFULLY!!!
Lol, that should work....
One thing hubby and I do, is when we use our cc, we make sure it is payed for withing the grace period (21 days I believe) that way you don't have to pay any interest!!
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Fact Checker
Posts: 16572
Location: Displaced Iowegian | RaschPerformanceQHS - 2015-02-22 10:25 AM Thank you all!!! I haven't decided what to do just yet with all those credit cards??? I know closing those accounts is not the best idea, as it does not improve my credit score. I read somewhere to freeze them in water and if you see something you want get them out of the freezer to thaw, by the time they are done unthawing you have had plenty of time to think it over....and not use them HOPEFULLY!!!
You don't have to "close" all of the accounts.....just cut up the credit cards.....keep one for emergencies ONLY........
I, personally, charge all of my fuel because I get a 3% cash back....BUT I pay it all with no interest at the end of every month. I do use one when I travel (for motels and fuel ONLY) because it is safer than carrying cash or using a debit card. |
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 Take a Picture
Posts: 12838
| What you spent years ago is water under the bridge. Kudos for paying it off. Let me give you a couple of tips. Do not cancel your credit cards. Buy something on your credit cards once in awhile like $30-100. Both of these will affect your credit. I had a Kohls credit card that I never used. They canceled it for nonuse and it affected my credit. |
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10D Crack Champion
| Don't get down on yourself. Feel proud you got rid of some debt. Now take what you have been paying monthly and pay it to a savings account. You are used to living without it each month so just keep on paying it, but this time you will be paying it to yourself. Great rainy day fund or just nice now and again splurge.
Edited by sodapop 2015-02-22 2:28 PM
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 I Prefer to Live in Fantasy Land
Posts: 64864
Location: In the Hills of Texas | In order to do a lot of things you have to have a credit card so I would get rid of all of them except one. We have a debit card that we use to get fuel.
Congrats!
Edited by Nevertooold 2015-02-22 2:32 PM
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 My Heart Be Happy
Posts: 9159
Location: Arkansas | RaschPerformanceQHS - 2015-02-22 8:55 AM
Just paid off all of my cc debt and I thought I would feel a ton of empowerment, but unfortunately I feel AWFUL!!! I guess it is the guilt of letting my spending get out of hand back when I was in college, and now I am paying the price for it. I have spent the past hour thinking of all the NICE things we could have bought with that huge chunk of money.
I wanted to start this year off right by getting rid of all of those cc payments and we have recently refinanced our house since interest rates are at an all time low. I have helped to cut our monthly bills in half now, but I still just feel sick over all that money I wasted away years ago!
Ugh..... vent over!
You have nothing to feel bad about and everything to be proud of----good good for you! Keeping one card and paying it off each month is the smart thing to do. |
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 New Word Inventor
Posts: 1506
Location: Who knows | RaschPerformanceQHS - 2015-02-22 8:55 AM
Just paid off all of my cc debt and I thought I would feel a ton of empowerment, but unfortunately I feel AWFUL!!! I guess it is the guilt of letting my spending get out of hand back when I was in college, and now I am paying the price for it. I have spent the past hour thinking of all the NICE things we could have bought with that huge chunk of money.
I wanted to start this year off right by getting rid of all of those cc payments and we have recently refinanced our house since interest rates are at an all time low. I have helped to cut our monthly bills in half now, but I still just feel sick over all that money I wasted away years ago!
Ugh..... vent over!
Hey, it's awesome that you paid off your credit card debt! Think of it this way: You now will have the money that you were spending on payments to stock away in a savings account to buy those nice things you want. This time around, you'll have learned from your mistake and go about things in a much smarter manner.
Edited by BigSkyDream 2015-02-23 5:00 AM
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