Friday, March 4, 2011

Good Lord Almighty! We Paid Off Our Van!

I even put on my fancy sucker punch necklace for the occasion!
I'm so happy as I type this!  We went in to our credit union late this afternoon and paid off our van!  Short history on the purchase: we started in 10/2003 with a lease for this brand new van because we needed payments we could afford.  Well, right before the lease was up, we took a loan to purchase the rest of it.  Talk about buying too much vehicle!  We would have been so much better off with getting something used.  We learned a lot with this purchase, like how not buy a car.  Lesson learned and noted.  What's great about this pay off is that we didn't have to use our tax return (like we had originally planned).  My husband had some extra money on this paycheck that enabled us to do this.
Good van, we so OWN you!

This has really been the moment we've been waiting for in our debt snowball.  We now free up about $400/month to go towards our next debt.  We'll really pick up the pace, but these are bigger debts, so they'll take a while.  We're looking forward to sucker punching our next debt!  If you're getting out of debt, keep at it, even with setbacks (there will be some).  Just stay focused and keep your course-I'm cheering you on:)!


  1. Hurray! Congratulations. That's great.

  2. Thanks, Merrilee! It feels so good to finally own that darn van. Now on to the next debt. Hope you are all doing well:)

  3. What an awesome accomplishment! Way to go Phillips family!

  4. Thanks, guys! I'll NEVER go back to taking 7 years to pay off a car!

  5. That's is awesome Kris congrats!