I've been fighting some down mood the past month, though I think I am starting to get out of it. One piece of good news is that our last credit card payment will be withdrawn from the bank on Monday! It's been 6 years since my/our balances on them have been $0. We have been so late on paying them that we do not have any active that we can use. That will indirectly help us to not use them again.
The question you are probably asking is "Will you ever use a credit card again?" and at this point of our lives, I will have to say it'll probably be many years until we even consider it. I have seen the benefit recently of having one to smooth out bumps during slow cash flow (we had no dryer for 3 weeks while we waited for funds to become available). Our goals though for the end of the year is to have enough emergency funds to smooth out those bumps instead of risking the chance of holding onto credit card debt.
From here on out, we have a home equity line of credit outstanding and then a bunch of small debts to take care of. Unless we have problems with renters paying, we'll be looking at getting it all taken care of by mid-summer. I can't wait!!!
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Congratulations!!! This is a huge step toward the walk of freedom. We will be paying off our line of credit next month, hopefully and will only be mortgage holders, looks like you are right behind us.
Have faith, it will all work out. Even with just the credit card payments gone, you will see that it takes less to get through a month and be provided with more flexibility!
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