I don’t like debt; it hangs over me like a cloud. The only debt I’ve had since graduating college four years ago was my student loans. Compared to some graduates that owed $60,000 or more, the amount I had to pay back was small potatoes. But last night I decided I didn’t want to have this cloud hanging over me any longer, so I paid the remaining balance. While I’m not looking forward to seeing the full amount withdrawn from my bank account in a few days, I’m glad I did it. That’s one less thing to worry about. And now that I don’t have a monthly payment anymore, I can replenish my savings account at a much faster rate.
How does debt make you feel?
Have you ever paid off something big (e.g., a car, house or student loans)?
If so, what did you wind up doing with the extra money?