Comments on: Why I’m Glad We Didn’t Pay Off the Car Last Year

By: Jen @ Next Rich Girl

Jen @ Next Rich Girl — Tue, 28 Apr 2009 15:19:30 +0000

Peace of mind! I finally conquered all but my student loan debt and I can't even accurately describe how happy it made me, how relieved I felt, etc. In fact, getting rid of that debt a few years ago has helped me stay afloat in the current economy. If I still had all those balances to carry, there's no way I'd still be treading water (financially speaking) now. Jen @ Next Rich Girl’s last blog post: Recession Hitting Men Harder Than Women

By: Interesting Reads From Fellow Personal Finance Bloggers #15 | Pecuniarities

Interesting Reads From Fellow Personal Finance Bloggers #15 | Pecuniarities — Sun, 25 Jan 2009 23:38:05 +0000

[...] Mrs. Micah tells Why She’s Glad They Didn’t Pay Off the Car Last Year [...]

By: Why we want to be out of debt | Sense to Save

Why we want to be out of debt | Sense to Save — Tue, 20 Jan 2009 06:18:02 +0000

[...] post was inspired by Mrs Micah Related posts |The national debt has too many digits |How $10,000 can feel |I’d like a big, [...]

By: Sam

Sam — Sun, 18 Jan 2009 20:13:25 +0000

I think in this economy, being debt free is the new cool thing to do. Everyone is worrying about paying their bills and keeping their job.

Not being in debt frees you up to do whatever you want. It is really priceless.

By: The Friday Gathering - 1 degree edition

The Friday Gathering - 1 degree edition — Sat, 17 Jan 2009 13:59:28 +0000

[...] Why I’m Glad We Didn’t Pay Off the Car Last Year@ Mrs Micah [...]

By: Squawkfox

Squawkfox — Fri, 16 Jan 2009 18:11:53 +0000

Debt freedom does equal freedom. I’ve been debt free for countless years. This opens up huge opportunity to find work for beyond financial compensation.

By: Jason

Jason — Fri, 16 Jan 2009 01:04:08 +0000

For me the idea of freeing up so much of my take-home pay from debt repayments to other things (saving for the future, saving for some work on the house, etc) is the main reason I want to be debt free. Plus, I guess, the advantage of lowering our monthly expenses in case anything ever happens to my income.

By: Funny about Money

Funny about Money — Fri, 16 Jan 2009 00:51:30 +0000

Yay! I’m so glad your new(ish) job is much, much better than the last one. Hope my son, who is truly miserable in his present gig, soon can find a way out, too.

Debt-free for me means… Not worrying if I will starve should I be laid off; having enough cash flow to live comfortably; knowing the house & the car can’t be taken away from me if I lose my job; being able to pay for everything I need in full, in cash; having every dollar I spend equal 100 cents, not 100 cents minus whatever the rate of interest I’m paying on debt; being able to max out my Roth IRA every year.

By: MrsMoney

MrsMoney — Fri, 16 Jan 2009 00:28:22 +0000

I’m going with peace of mind!! I think that is the main motivating factor in me wanting to pay off our debt quickly. I hate knowing that we owe for things and don’t own them outright. I hate making payments each month knowing how much goes towards interest.

At the same time, we’re currently saving more money than paying off debt. The reason being, in this economy if we lose our jobs, who knows how long it would take us to find new ones. I’d rather have the cash in the bank and be able to make minimum payments than pay extra and still have to make the minimum payments and not have the money to do so.

By: Carla

Carla — Thu, 15 Jan 2009 20:30:42 +0000

Freedom, savings, vacation, etc.

I have about $5K left in medical debt, but I’m currently adding to that now as I write. There comes a point where you just need to make MORE money.