It’s been one year since I paid off what was once a $40,000 heaping pile of steaming credit card bullshit. $40,000 worth of sleepless nights worrying how the fuck I was going to make ends meet. This past year, with the pandemic and all the garbage that came with it, was one of my best. Why? Because I didn’t have to worry about how I was going to pay the bills. I was too busy pocketing the money I used to pay to credit card companies every month. Living without credit card debt has lifted a massive weight off my shoulders.
Interest is a bitch
I’m not going to go into detail about how I got into so much credit card debt. You can read about that here. What I will tell you is this; living without credit card debt is a dream. Years and years of making monthly payments to the tune of hundreds of dollars, barely making a dent in my outstanding balance. Interest is a bitch when it’s working against you.
Toilet paper became the mythical unicorn
What did I do with all the cash that was freed up by no longer having to make a credit card payment? I redirected it to my auto loan so I could eliminate that mother fucker as quickly as possible. $360 bucks a month for my car to sit in the garage because everything was closed and toilet paper became a mythical unicorn. I had to make it go away quickly, and you can read all about how I did that here. If you’re hell-bent on eliminating debt, might as well go for it all.
The joys of buying diapers
What else came with paying off my credit card debt? Being able to buy baby formula and diapers for my daughter without worrying about going into debt in the process. That would be especially shitty. In fact, prior to having my first child, I was terrified about how I was going to afford it all. Not having to worry about whether or not I can afford a month’s supply of diapers has been a huge weight off my shoulders.
Time for some rewards
You’d think that after paying off $40,000 in credit card debt that I would forever avoid them like the plague. Not so much. I now use them to my advantage. For example, I spent a considerable amount on Amazon last year. Everything from dry goods, all things baby, and some miscellaneous purchases added up to nearly $7,000. Given that most of my purchases come from Mr. Bezos himself, I decided to start using the Amazon Prime Signature Rewards Visa card for its 5% cashback on Amazon purchases. This helps offset the costs of my everyday purchases. Here’s a really important note. I pay off the balance every month. If I let interest kick in, all those benefits mean nothing.
Living financially free
I’ve been living financially free for the past year. What does that mean? It means that I’m not burdened with debt so overwhelming that I’m not able to take a shit without thinking about it. A massive debt load is like a dark cloud that follows you everywhere…even into the bathroom. Living financially free means you aren’t held back by the fear of worsening your financial situation. Being free of all that awfulness is a relief beyond description. If you need inspiration for paying off your debt, here it is. Peace of mind. It can’t be overstated.
Living without credit card debt is worth it
If you’re burdened with credit card debt and carry a balance month over month, you might want to consider eliminating it as soon as possible. The peace of mind in doing so was worth the sacrifice for me. You can read about how I eliminated my debt with tactics like the debt snowball and staying motivated while doing so.