Yes, we’ve been debt free for one year. Wahoo! Time flies when you’re having fun, eh?
Get our household budget spreadsheet that we use to track our spending. (You'll also get our 7 steps to financial freedom and monthly updates!)
Here’s what else we’ve been able to do since we became debt free.
1. Buying a Minivan
We paid cash for our used minivan, which is something we haven’t done in many, many years. In recent years of adulting, we financed and also leased vehicles. Notably, there is far less paperwork when paying cash for a vehicle.
We began investing in a taxable brokerage account for the purposes of financial independence/early retirement. At the moment, we have invested nearly 3% of our FIRE goal.
We also took time off to enjoy interesting places like West Texas, North Carolina, and Portland, Oregon — and visited friends in each locale. Hiya!
Picking up a new sport has been loads of fun. I love climbing indoors and I can’t wait for us to get outside and do it for real.
We fully funded our emergency fund with one year’s worth of expenses, based on our 2018 household budget.
6. Sleeping at Night
As long as we pay our taxes and utility bills, we have a home to call our own. Huge weight lifted.
No more student loans, either. Our degrees are officially our own.
Because we’ve finished paying off our past mistakes, we can focus solely on the future — who we want to become, what we want to do with our time, and how to make our hard-earned dollars pay for it all.