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Just received bank confirmation letter yesterday, I paid off my note and we are now 100% debit free. It feels kind of weird not having to send a payment to the bank. But I think I will get over it :)
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Fantastic! Now how about those savings goals for retirement and other expenses?

Fuskie
Who hopes you will continue sending those payments somewhere useful and productive...
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Congratulations! Time to do a happy dance.

How about sharing with us some of the highlights/lowlights of your journey?

- Pam
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Way to go!!!!!
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Debit Free, not Debt Free?
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Debit Free, not Debt Free?

That's what I was wondering. We just got new USAA debit cards in the mail, and I need to call and see if they offer an ATM version only. I doubt it, but I need to ask. Then I can be 100% debit free!

I haven't used one in years (probably 10)...as a debit card anyway. But most of my ATM cards were debit cards until I started asking for ATM only.

v/r
Tom
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"How about sharing with us some of the highlights/lowlights of your journey?"

Pam, I don't really have any lowlights. But for what it’s worth this is how we accomplish it. Keep in mind my intention is not to sound Like Kahuna.

I will say we are blessed not to have experienced any hardships or job loss over the past 30 years. We were married at an early age (20) and were taught not to purchase anything unless you had the cash. We started with a small starter house (780sqft) and tried to live off one paycheck. Moved up to a bigger house and put 60% down on it (so one pay check could cover living expenses). Our remaining money was then applied to principal on the mortgage, savings, college fund and future long term purchases.

We never paid an interest fee on a credit card nor borrowed more than $10K or longer than 36 months for an auto.

We have always held joint accounts and discussed any purchase over $100. Never browbeat each other for an occasional indulgence.

We will be married for 30 years in a few months; have never received a dime from our family nor Uncle Sam. We are on track with retirement (28% total income goes into retirement accounts)and have a sufficient emergency fund.

At at last, our son will start his 3rd year in Pharmcy school this fall, his first four years have been paid for with no loans.

BTW I am not even close to being a paralegal.....
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We just got new USAA debit cards in the mail, and I need to call and see if they offer an ATM version only. I doubt it, but I need to ask. Then I can be 100% debit free!

I opened a USAA savings acct months before I opened a checking account. the card I got for the savings account is an ATM only.

However, with the debit card on the checking count, I get debit card refunds. For example, I did $30 worth of transactions and got $0.15 back.

Not a ton, but better than nothing, which is what I get from my CU.

Ishtar
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I will say we are blessed not to have experienced any hardships or job loss over the past 30 years. We were married at an early age (20) and were taught not to purchase anything unless you had the cash. We started with a small starter house (780sqft) and tried to live off one paycheck. Moved up to a bigger house and put 60% down on it (so one pay check could cover living expenses). Our remaining money was then applied to principal on the mortgage, savings, college fund and future long term purchases.

We never paid an interest fee on a credit card nor borrowed more than $10K or longer than 36 months for an auto.


An excellent plan. Pity more people don't follow it.

BTW I am not even close to being a paralegal.....

LOL. Me neither. :o)

- Pam
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