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Author: Mei2 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308367  
Subject: Thxs to All & Happy NY! Date: 1/4/2000 11:47 AM
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Dear Credit Card Message Board Posters:

Well, I've done it. On January 3rd, I paid off my credit card debt.

I wanted to thank you all for your postings, support, and sense of humor. You guys are the best.

The "extra" cash flow will go towards my student loans. [sigh--what an albatross, eh?]

Iron Maiden
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Author: forumcap Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23059 of 308367
Subject: Re: Thxs to All & Happy NY! Date: 1/4/2000 12:12 PM
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Hey, Iron Maiden,

Thanks for checking in with us and giving us a chance to do a happy dance for you!

We haven't see these guys for a while:

www.hampsterdance.com

Can we have any gory details, like what you started with and how fast you did it? Things like that can be an inspiration to the rest of us...

Anyway, a big fat congratulations!



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Author: DollarIQ Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23087 of 308367
Subject: Re: Thxs to All & Happy NY! Date: 1/4/2000 3:40 PM
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Iron Maiden,

Congratulations! :) Can't wait till I can come in hear and hoof it with you!

Happy liquidity (or something)! :)

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Author: Mei2 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23105 of 308367
Subject: Re: Thxs to All & Happy NY! Date: 1/4/2000 6:22 PM
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Can we have any gory details, like what you started with and how fast you did it? Things like that can be an inspiration to the
rest of us...

Dear ForumCap,

If you must know...I'll give you the gory details.

I had about $13,000 in credit card debt starting August 1997. I paid it off in January 2000, about 29 months later, or just shy of 2.5 years. I never had interest rates above 5.9%. I kept transferring and cutting up the "old" cards as their promotions ran out (making sure never to pay any transfer fees or any such nonsense), and my last $1,500 was actually an interest- loan to me from my honey (thanks, Honey!).

If you do a straight division (without taking interest into account), the numbers aren't THAT impressive--about $448/month. However, I've made two career changes since 8/97, each time going to a lower-paying position (it's a life-style choice), so in light of that, I didn't do too badly.

I'm fascinated one how one's cost of living expands to fill one's income (e.g. suits=dry cleaning; professional look=expensive watch, expensive car; image=fine dining, expensive suits; expensive car=expensive maintenance, etc.). If I had regularly visited the LBYM boards when I was fresh out of law school, I may have paid off the CC debt much more quickly. But most likely, I probably would have been appalled if somebody suggested that I could actually live comfortably on the salary I'm currently making. As it is, I'm saving more and now I'm CC debt free! (Thanks, LYBM boards!)

But hey, the CC debt is gone, and now I get to leave work at 4:30 rather than worry about such lovely things as face-time, brown nosing, & billables. (Ooops, I know I may have offended some professional people out there, my apologies, but I hate billables.)

Best wishes,
Iron Maiden

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Author: forumcap Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23106 of 308367
Subject: Re: Thxs to All & Happy NY! Date: 1/4/2000 6:28 PM
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If you must know...I'll give you the gory details.

I had about $13,000 in credit card debt starting August 1997. I paid it off in January 2000, about 29 months later, or just
shy of 2.5 years. I never had interest rates above 5.9%. I kept transferring and cutting up the "old" cards as their
promotions ran out (making sure never to pay any transfer fees or any such nonsense), and my last $1,500 was actually an
interest- loan to me from my honey (thanks, Honey!).

If you do a straight division (without taking interest into account), the numbers aren't THAT impressive--about
$448/month. However, I've made two career changes since 8/97, each time going to a lower-paying position (it's a
life-style choice), so in light of that, I didn't do too badly.


Yeah! I think ya dun great!

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Author: TMF2Aruba Big funky green star, 20000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23114 of 308367
Subject: Re: Thxs to All & Happy NY! Date: 1/4/2000 6:49 PM
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Well, I've done it. On January 3rd, I paid off my credit card debt.

I wanted to thank you all for your postings, support, and sense of humor. You guys are the best.


Wow! Way to go, Iron Maiden! I think you're our first famous Rock and Roll success story! : )

Huh? Oh, you're not that Iron Maiden?

Well, Congratulations anyway, and keep up the Happy Dancing. You've earned it! : )

Tony
...but I still am...

Off2Aruba

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Author: DollarIQ Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23199 of 308367
Subject: Re: Thxs to All & Happy NY! Date: 1/5/2000 11:14 AM
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Iron Maiden,

I had about $13,000 in credit card debt starting August 1997. I paid it off in January 2000, about 29 months later, or just shy of 2.5 years [SNIPPED] and my last $1,500 was actually an interest- loan to me from my honey (thanks, Honey!).
Whew, that's fabulous, Iron Maiden! And definitely nice to have Honey there, with love & a loan! :)

If you do a straight division (without taking interest into account), the numbers aren't THAT impressive--about $448/month. However, I've made two career changes since 8/97, each time going to a lower-paying position (it's a life-style choice), so in light of that, I didn't do too badly.
That is a great effort, regardless... I've found that consistency is more relevant that sporadic intense payment levels, heh... I've had my ups and downs, but realize I have more success when I determinedly stick to a reasonable, but consistent!, plan.

I'm fascinated one how one's cost of living expands to fill one's income.
Oh, you've said it! ... this is one reason I'm grateful that my boss gives me a bonus instead of giving me a pay raise; I would've spent all that as part of my *budget* even though I would have the same income, ultimately!

If I had regularly visited the LBYM boards when I was fresh out of law school, I may have paid off the CC debt much more quickly. But most likely, I probably would have been appalled if somebody suggested that I could actually live comfortably on the salary I'm currently making. Oh, yeah!!.... part of the thing about going to school is we often feel we deserve some financial *breaks* and freedom that we didn't have as struggling * penny-pinching students and we reward ourselves in part by seeking higher salaries. Admittedly, we would've REALLY learned from our educations had we understood personal finance before we had the finances! That's a good lesson, but often takes experience (and regrets!) to fully digest.

But hey, the CC debt is gone, and now I get to leave work at 4:30 rather than worry about such lovely things as face-time, brown nosing, & billables. (Ooops, I know I may have offended some professional people out there, my apologies, but I hate billables.)
Hehehe......... Honestly, I'm hoping for a some type of radical job changes in about 2-3 years time; just a dream still and no clear focus yet, but hope to get to your level of contentment, POST-DEBT!, by then!

You really are an inspiration to me. Though I'm currently at $33K which is more than where you started 2.5 years ago, I now have less than half the massive debt of $70K from 4 years ago. It's a good feeling to see the #s go steadily down... the end is near!!! (And I'm not talking about Y2K "The End of the World as We Know It!")

A very HEARTY CONGRATULATIONS on your achieved solvency and lifestyle contentment. :)

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