Posted on 12/27/2012 11:14:55 AM PST by Altariel
When Cherie and Brian Lowe of suburban Indianapolis threw a party last spring, 150 well-wishers came bearing casseroles.
This was no birthday or anniversary bash. Mr. Lowe, a lawyer, and Ms. Lowe, a stay-at-home mom, both 36 years old, were celebrating an accomplishment: paying off $127,482.30 in debt, mainly student loans.
Partygoers came from as far as 200 miles away. Some had never met the Lowes but followed their quest through a blog called Queen of Free. Guests won prizes such as personal-finance books, museum passes and homemade cleaning supplies. One friend sang "Sallie Mae Is Not My Lender" to the tune of Michael Jackson's "Billie Jean."
Americans are struggling with student loans like never before. Outstanding student-loan debt hit a record-high $956 billion in the third quarter, and 11% of student-loan balances were at least 90 days behind on payments, according to the Federal Reserve Bank of New York.
Some borrowers are fighting back, using a combination of extreme frugality and extra part-time jobs. And a few who win the battle by retiring their bills early are marking the triumph in style.
(Excerpt) Read more at finance.yahoo.com ...
Wisconsin, too. We make casseroles in the casserole dish.
Ditto, in my part of Illinois.
I just paid off my truck; mailed the check in this morning after saving up for a year to pay it off early. Saved over $3K in financing!
Where’s my d@mn casserole?
LOL!
That's Dave's main statement on every show and I say Amen and Amen!
We're ready to do the "I'm Debt Free" scream but can't get on the show. We paid off the debts other than the house in 2007, College debts for my kids the Spring of 2008, and the House September of 2008.
The Key to staying out of Debt is the Emergency Fund. If you don't have one, Murphy is ready and waiting. He still comes if you have one, but he tends to comes less often.
Working on Step 7.
SR
Time to go new truck shopping yet?
Nope. I just bought the truck this time LAST year. 2008 Ford Escape with very low mileage. (I only have 42K on it as of now...) I love it! I had a decent down payment, but let them finance the rest because I needed to ‘get back in the game’ post-divorce, and they gave me 2.9% financing.
My FICO is top of the line...and my only debt now is my farm mortgage...ALSO due to the divorce because I bought him out; rewarding him for his bad behavior. But, it’ll pay off as I’m in one of those ‘golden’ areas where my farm has appreciated in value since I bought it in 1993, and my taxes aren’t out of line, either.
I WAS going to be debt free and retired by 55, but that’s not looking like a possibility now. However, I have a very good job and a good attitude which takes you places. ;)
But, who knows what is ‘round the next bend? I’m due for some Good Luck. :)
Anyhow, that’s my story and I’m stickin’ with it. :)
Great sunny attitude, does this old heart good to hear it.
Plus, at under 55, you’re still a kid.
Great job! I’ve just mailed a green bean casserole to you! Keep up the good work FRiend.
Thanks for sending this out to the DR pingees. I appreciate your help.
Imagine the parties when Obamaclaus signs an EO forgiving all student loans.
Casserole? Sure, but where’s my payoff party invitation? :-)
I’m throwing a BYOC Party! :)
Man, this feels so gooood!! Now to throw extra at the mortgage. And ammo. I need more ammo. ;)
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