Home > Paid off my car this morning!

Paid off my car this morning!

December 12th, 2020 at 04:35 pm

I always say that I'll let the final payment go through as usual, but like with my TSP loan I couldn't wait. My automatic payment of $200 went through yesterday & I had $180.15 remaining. I scheduled the $180.16 payoff amount for today. She's all mine now! 🚙 

This is my second loan payoff this year & I've moved my anticipated credit card pay off from spring 2021 to January 2021. My balance will never be zero as I don't pay in cash, but it should just be my usual monthly purchases on my balance after next month, rather than recurring debt. I am now down to $3k from $22k earlier this year.

My next paycheck I will contribute $700 to my TSP to max out for the year. I still have $2k remaining to contribute on my 2020 IRA. $500 will be contributed on the 15th. 

I'm so excited for my progress this year. It's like I woke up out of a slumber. Next year I'll be able to focus on rebuilding my savings.

Still no news about whether federal employees will get a raise next year, but I'm still due for a step increase. Of course, we will have to begin paying back deferrred OASDI taxes in the new year. 

I enjoyed my day off yesterday. I ran some errands, did some house chores, & had a belated birthday lunch with a friend. Today will be more of the same. I slept in very late today. I guess my body needed it.

Have a great weekend & happy Hanukkah to those celebrating! 🕎 

Net Worth $1,102,723

16 Responses to “Paid off my car this morning!”

  1. MonkeyMama Says:


  2. Wink Says:


  3. Dido Says:

    Congrats on the payoff and on so much good progress this year!

  4. mumof2 Says:

    congrats...that is awesome

  5. LuckyRobin Says:

    You are really cranking that debt payoff out this year. I'm really pleased for you.

  6. CB in the City Says:


  7. disneysteve Says:

    Congrats! That's terrific.

  8. Baroque Says:

    Well done!!

  9. ceejay74 Says:

    WOO HOO! Doing the virtual happy dance for you. Well done!!

  10. livingalmostlarge Says:

    Congratulations! I swear it feels so much better to drive a paid for car! I just paid ours off in September!

  11. Petunia 100 Says:

    Congrats on reaching this goal! Smile

  12. rob62521 Says:

    Way to go!

  13. Rachael777 Says:

    I reread some entries and back in May 2011 you were at a networth of $277k. .. so 5x growth in 9 years!! Impressive and I can feel your excitement through the computer What was your path to $1mm so others can learn?

  14. terri77 Says:

    Wow! Thanks so much for reading, Rachael! I will say the biggest thing for me is consistent saving & investing. As you can see from my sidebar, I maximized my retirement vehicles for many years. I started investing my last year of college. I think the minimum investment was $25 or $50 monthly. I graduated with very little school loan debt thanks to my parents & a scholarship. I lived at home until I bought my own home with 20% down. My mortgage is less than I would pay in rent. I have splurged on buying new cars the last two times, but I am happy to keep those cars for several years. I also like to travel & don’t regret the money spent on experiences. One thing I have done wrong is having a shopping habit which led to my credit card debt. I used to spend every weekend shopping. It was my past time. This year has taught me how little I needed all those things. I have been a bit of a hoarder, now I’m trying to declutter my home through eBay & Facebook sales.

  15. Rachael Resk Says:

    Thanks for sharing. It is interesting the path you chose as it shows that regardless of what was going on (life circumstances, other debt) you kept strict to your investment commitment and it shows the value of investing early in real terms. I would be interested to learn if your net worth is all in financial investments and what you chose or if you have other non financial investments. Through your blog you are a mentor to others and people are reading in part to learn (as well as support you) especially when you almost five-tuple your networth in 9 years!! Great job and REALLY excited for you. Keep it up. By the way I am running an online zoom David Ramsey course next month. I will post it separately if any from this group want to join.

  16. terri77 Says:

    That sounds great, Rachael! I know many have found success with Ramsey’s principles. I have started back listening to him when I am working in the evenings. The stories are very interesting.

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