Becoming Debt-Free

It has been a journey! Looking back it was one awesome decision to quit the job that I hated for too long (in June 2015) and figure out what I really want and find ways to achieve  that.

In the process I realized having a bunch of debt paralyzes you and makes you slave to the lender, as Dave Ramsey would say. I took Financial Peace University this January, and are eager to becoming debt-free as fast as possible. I had about $67,000 in bad debt beginning of the year, and I also got hit with a $7,000 tax bill for 2015. I have cut all expenses to a minimum and hope to pay of the remaining debt by mid 2017. Since I have never been debt-free I cannot really say how this will feel, but as I heard it will be awesome.

After archiving being debt-free I will have to get my emergency fund filled up and then I can pay catchup on my 401K, before paying off the house. The advantage owning a rental is that your tenants help you pay the mortgage and other expenses. Though it does require quite a bit of work, and sometimes its a pain to deal with tenants. After 13 years I thought I have seen it all, but that is far from it. The adventures continue.

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