Milestone Achievement #8


The journey to reach Financial Independence, for most, can be a very long drawn-out process, a goal that can very well take years, maybe even decades, to achieve.  One could very easily work for 30, sometimes 40 years only to achieve that Independence through retirement pensions or Social Security checks.

Reaching FI can be a long process, and you have to find ways to keep yourself motivated.  That is what we have done with our Milestone Achievements List.  With every goal we achieve and scratch off the list, we know that we are getting closer and closer to FI and it serves as a major motivational tool.  The growths of our Net Worth, New Life Portfolio, and dividend/passive income, as well as debt elimination are the key ingredients to reaching Financial Independence and early retirement.

This post is very special to me as it marks a huge milestone, especially for me.

On March 15, the TOL’s paid off Credit Card 2 and we are officially CREDIT CARD DEBT FREE!

This is truly an amazing feat that the TOL’s have accomplished!  It was about two years ago that we were in credit card debt to the tune of $14,000 dollars, paying interest rates in excess of 20%!  This is even more special to me, as I have dealt with credit card debts well before Mrs. TOL and I were even married.  I think back to when I was 18 years old and was approved for my first credit card.  I thought it was so cool that I could buy (useless) stuff and pay just a few dollars a month for it.  That was the beginning of a long life of credit card debt and carrying balances in the thousands and couldn’t even remember what I purchased.

Well, that part of me, and us, came to a happy end on March 15, 2016, as I woke up to check our balance online, and became overjoyed when I saw $0.00 staring back at me.  We have been steadily increasing our Net Worth and a big part of that was debt elimination.  The less interest we have working against us the better.  No more $150 credit card payments with only $60 going to principal.

Credit card debt is the worst kind of debt to carry – the interest rates are sky high as opposed to car loan, mortgage, or student loan debts.  God forbid you miss a payment; you may have to sell a vital organ just to pay the interest!  It sucks the soul out of you because you have this balance, and you don’t even remember 90% of the stuff you purchased.  It puts a heavy strain on finances and it’s almost an embarrassment to even say you have it.

Well we are free from it…and it feels freakin’ AWESOME!!  Watch out car loans…we’re coming for you next!


One thought on “Milestone Achievement #8

  1. […] of debt reduction for March was extraordinary, eliminating over $3,000 in debt!  We achieved a monu...

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