Woot! UPDATE and More Questions

[buckeye lady]

Way to go!!!! You should be very proud of yourself. Goodbye XDH and his baggage!!!!!


Where did you get your credit report from? Did you have to pay for it? I haven't looked at mine in awhile, I should. We all should. Do you have a link?

 

[tortoise]

You can get a free credit report once per year from Experian, Equifax, and TransUnion.

Here is the site: https://www.annualcreditreport.com/cra/index.jsp

I personally recommend ordering one every couple of months so you can keep your eye on things throughout the year.

It will not give you your credit score - you have to pay extra for that. I figure my score will take care of itself if I take care of what is on my report!

 

[VickiLynn]

Bankrate.com has a calculator that will let you figure out approximately what your credit score is.

http://www.bankrate.com/calculators/credit-score-fico-calculator.aspx

 

[tortoise]

I am ... totally, completely debt-free! It feels soooooo good! It's so stressful for me to try to remember due dates and making sure I have money before the due dates. It's gone.

Plus I have a good amount to invest. I have no idea how to do that, but my fiance is good with money and investing. I'm thinking I want to have a "security blanket" in a savings account, BEFORE investing - so no penalty for withdrawing in case of an emergency. How much should an emergency account be? 5K? 10K?

Is it bad to take a couple hundred dollars for me, for silly little things - taking a class, professional haircut, some work clothes, etc.?

 

[glenolam]

I think after paying off all your debt you should spoil yourself a little.

So...what was the secret? How'd you manage to do it?

 

[freemotion]

I'd feel good about having 6 months' worth of living expenses in the fund. Maybe a couple thousand more so I could take some out for those unexpected things while still having the 6 months in there....things like having to go help a sick friend or relative, having the car die completely or need emergency repairs, emergency vet bills, etc.

 

[i_am2bz]

CONGRATULATIONS!!!!!!!

If you follow Dave Ramsey (you may want to pick up his book "Total Money Makeover" or find his radio show), he advises working in baby steps; definitely building up an emergency fund is important, so WHEN (not if) something happens you will not have to go back into debt to pay for it. I have an account that will cover 6 months of household expenses, plus a separate account for car/home repair/new appliance/etc emergencies. "How much" is probably a personal decision, depending on "what if."

However...I also have an account where I keep vacation money...hey, ya gotta have some fun in life. So if your bills are all paid, & you have something in an emergency fund, I say go ahead & splurge a little!

 

[hoosier]

Well done!!!

 

[tortoise]

I think after paying off all your debt you should spoil yourself a little.

So...what was the secret? How'd you manage to do it?

I lived with other people (my parents, then a roommate, then my fiance) and put everything into paying off the debt. I received some windfall money - tax refunds, tuition refund, selling stuff, back pay - that paid off the bulk of it. Keep in mind that I was unemployed/disabled for almost 2 years - I wasn't able to do the 40hr/week thing. SSDI backpay took care of the last 2 loans.

If you follow Dave Ramsey (you may want to pick up his book "Total Money Makeover" or find his radio show), he advises working in baby steps; definitely building up an emergency fund is important, so WHEN (not if) something happens you will not have to go back into debt to pay for it. I have an account that will cover 6 months of household expenses, plus a separate account for car/home repair/new appliance/etc emergencies. "How much" is probably a personal decision, depending on "what if."

I haven't followed Dave Ramsey, but I've heard so many good things I'm thinking I should!

My fiance and I were talking over lunch. He was asking if we EACH need an emergency account. I pointed out that we aren't married yet and if he dies, I'm screwed. He said, OK I'll put you in my will. But I think I should still have *something*. I'm assuming in that event there will be bills to pay inbetween death, and then awarded the estate/account whatever. Gosh, that's a morbid thought.

I had a thought.... MY emergency money could be used to pay for a pretty wedding, since he's right, after we're married we'll only need one emergency account. win-win? I get my safety net, and when I don't need it anymore, I can spend it on something I really, really (secretly) want. ??

I need to set up college savings for my son (4 yrs old), and retirement savings for me. I don't know ANYTHING about investing. :/

 

[JRmom]

BIG congrats on paying off your debts! Yes, spend a little on yourself, you deserve it. However, do you really need to spend money on a "pretty" wedding? What does pretty mean anyway? Not trying to be a downer here, but it seems like you've worked awfully hard to get out of debt, plus save some money... a "pretty" wedding seems like going backwards to me.

Edited to add: This opinion is from an almost-50-year-old who realizes now that the words spoken at your wording between your and your husband are worth more than any frills you have at the wedding.