I’m curious about how it feels to clear all your credit card debt. Does it bring peace of mind, help your credit score, or maybe change how you manage money? I’d love to hear from anyone who went from having a lot of debt to becoming debt-free.
I had $20k in credit card debt about 10 years ago. Worked super hard and lived super cheap for two years to pay it off. It was the best feeling ever. I slept better and felt way less stressed. Once it was gone, I kept those habits and started saving and investing instead. Now I save about $15k a year, and the only debt I have is my mortgage. Watching my money grow instead of paying off interest is such a great feeling.
@Zen
I needed to hear this! I’m taking accounting classes, and they’ve really changed how I see money. Seeing stories like this makes me want to work even harder to pay off my debt!
I’ve been in and out of debt a few times. The first time I owed about $1,800, and I was so stressed. Then it climbed to $8k, and later I hit $15k when I got a card with a $9k limit. Eventually, I got my act together, started budgeting, and paid it off. I stayed debt-free for years until I financed renovations on two houses and ended up $50k in debt. Now I’m almost out of it again, but the key is to stay on top of it and avoid using credit unless it’s for perks or rewards.
Paying off my $60k in credit card debt was one of the biggest reliefs of my life. It took over two years of intense focus, but the day I paid the last one was unforgettable. My credit score is now in the mid-800s, and I’ve never carried a balance since. I saved up for an emergency fund, bought a house, and now I get to watch my money grow instead of worrying about debt every month.
@Zora
How did you get your credit score to 800? I can’t seem to get mine past 750 even though I pay off my cards every month. Could it be because I don’t have a mortgage? Would love to hear your thoughts!
Changing my habits was the first step to paying off my debt. I focused on saving instead of spending and valued having money in my bank over buying things for quick pleasure. Once I had $10k saved and no credit card debt, I finally felt secure. That $10k emergency fund gave me so much peace of mind.
I didn’t know what to do with my money after paying off my credit cards. I realized I needed a plan, so I looked into what financially smart people do. I started a Roth IRA, an HSA, and a brokerage account with a good bank. Now, instead of racking up credit card debt, I’m building up my savings and investments, and it feels amazing.
@Yan
Which bank did you go with for all of that?
Torrin said:
@Yan
Which bank did you go with for all of that?
I chose Fidelity. The app is decent and works well enough. I keep a checking account with my local credit union for monthly bills and transfer everything extra to Fidelity. My brokerage account earns about 5% interest and can be accessed with a debit card from Fidelity if needed.
Paying off my debt felt like a massive weight lifted off my shoulders. I could finally breathe and feel proud of myself. I can’t wait to be totally debt-free one day, including my car loan and student loans.
When I paid off $20k all at once, my credit score dropped 30 points. I was so mad, lol.
The day I paid off all my credit card debt, I promised myself I’d never carry a balance again. It was a harsh but valuable lesson. Now, I only use credit cards to earn rewards, and I pay them off in full every month.
I pay mine off every month now. It’s the best feeling.
Jesse said:
I pay mine off every month now. It’s the best feeling.
Same here! It feels like a gift to myself, and I put the extra into a high-yield savings account.
The relief was instant. I didn’t realize how much stress debt was causing until it was gone.