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      10-25-2007, 08:42 PM   #39
samoe93
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Drives: '08 E93 335
Join Date: Sep 2007
Location: West of the 405, North of the 10

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That's really impressive - congrats on kicking the credit card debt habit. I haven't always been credit card debt free either... did the same thing as you when I was in school and buckled down after finishing. Pushing through and making that last payment to wipe it clean was one of the best feelings ever.

Quote:
Originally Posted by jtmccabe View Post
Credit card debt has owned me for most of my adult life. I began living above my means when I got my first card at age 18. By the time I graduated college (1998), I was about $30k in the hole. When I got a real job I lived closer to my means but couldn't overcome all the interest and minimum payments, so I sunk further into the hole. I maxed out at $60k in 2003, then tried to get out unsuccesfully until I really buckled down a year ago.

I lived like a pauper, transferred all my balances to 0% cards, and sold some stocks and stock options I had. I ordered my car so that the first payment would coincide with me getting to zero, which will happen in December with a little luck.

I had planned to actually experience being debt-free (aside from mortgage) before buying the car, but then I decided I would enjoy the car more than being debt-free. It's still massive debt, but at least I could sell the car if I had to.

Here's the ugly history (yes, I got carried away with car upgrades there at the end):
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<Delivered 11.2.07> 2008 E93 335 | Space Grey | Black Leather | Grey Poplar | ZPP | ZSP | CWP | Step w/ PS | Nav | CA | PDC | iPod
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