Decided to pay the bike off today

[djf18374]

So I finally took the plunge and paid off my 09 FZ6R. I had a loan out on it since July last year, since i could not afford to pay cash up front. Only problem is, I could not stand paying a bank a bunch of money. I figure it makes no sense just to try and keep my savings account balance higher and earn interest when the rates are so friggin low. Make 0.01% interest on the money in the bank, or end the payment of 5.5% on the loan?
The decision seems simple, but it is tough to drop that much money when you worked so hard to see it build in savings...

Anyway, just wanted to share that I am that much closer to being debt free in life. Student loans (aka Pain in the A$$) are the only things left owed.

Feels kinda good, and I would recommend that you guys and girls do it too, if you are able. Just does not make sense to pay the interest if you don't have to. My feelings on the matter at least

 

[yfz6r]

Good for you, man. I currently have no debt but might have to take a loan for my senior year of college. I saved up enough to get me through this year (junior) and I can't work during the final 2 years of the BSN program.
My girlfriend of 4 years has about 15k in loans but she is on her last semester. Plan is to pay them all off within a year of my graduation, before we even think about getting different vehicles or a nicer house.

Debt scares the Pi$$ out of me because I hear so many horror stories.

 

[djf18374]

Yeah, I have a significant load of student loans to deal with so there is no way I am paying those off any time soon. I plan to buy a house in the spring so I need to save all I can from now until then for a down payment. Renting is such a waste of time and money! Can't wait to finally own a house!
I laugh at saying "finally" though, cuz I am only 23 and really have only been out in the working world for a year. Really has not been that long, but I am so sick of renting

Plus, I want to try and take advantage of the low-ish interest rates on houses. A house is the only purchase that I feel that financing is okay on. I hate owing and paying money to a bank, but at least you own the house eventually instead of paying rent into another's pocket.

 

[Marthy]

I know how it feels! I just pay off my cage 2 weeks ago. Title in the mail... Feel so good!!!!!!!!

I'll try to hammer the 6R within the next few months if I can. No easy with my wife going to school and working only few hours just to pay few expense. I'll get there... might still need to find another cage one day or another. Only have 1 car now and the 6R.

 

[madmike]

Congrats man!