We have some great news, and we are super excited about it! Last week, our final student loan payment went through!! That's right, folks, we are now
We are pretty excited about it. It's been a rather interesting road to get our loans paid off, which is the only debt we've had. We were able to pay off my graduate student loans while Daddy was still in school, thanks to a great tax return or two. And finished my undergraduate loans last Christmas time. That took quite a leap of faith, since Daddy didn't have a job at the time and we were living off our savings. We sent the last $600 that month, thinking that it would be better to have it paid off than to have to keep paying a monthly payment.
And thanks to his great job right now, we were able to completely finish his loans last week. Which means that we paid them off only 16 months after he graduated!
I don't have the figures in front of me, but I think we started out with about $24 thousand total - which really isn't too bad, considering we have 11 years of school, 2 bachelor's degrees, and one master's degree between the two of us.
We followed the advice of the wonderful Dave Ramsey. Thanks to him, we are sitting pretty on a budget that doesn't include any loan payments.