Erasing Our Debt

It's now well into August and for me that means it's time to get my free annual credit report. I was just browsing through all the accounts I have/had opened over the past 7 years of my life. I came to one conclusion while doing this:

When I started using credit, I was smart about it.

I still remember what my very first loan was. It was for my truck. We did it as a regular loan instead of a vehicle loan. I had received about $2,000 in graduation money and went out to buy a truck. I found a $4,000 truck and went and got a loan for the rest. It was a one year loan with payments around $200 I think. I had that sucker paid off in 8 months. Of course that was back then when I was bringing home about $500 in sales bonuses every 2 weeks. But still I knew I had to pay it off.

A year later, I didn't qualify for financial aid to go to school so I went back to the bank to get a $1,000 loan to pay for the first half of my classes. I had that loan paid off in 2 months. How? I can't remember. I must have ended up receiving financial aid and went and paid it off. Either way, had I done that a couple years later, I would have blown the unexpected cash.

I like the old me.

// posted by Ryan @ 11:42 AM