Loan repayment is complete and I'm debt free
As some of you already know. I got married two years back and I took a loan to cover my marriage expenses. Luckily I was able to get the loan from some known individual and I did not have a necessity to pay insane interest on my loan. Of course, there was interest but it wasn't unreasonable. After I started my Marriage loan, I had to top up my loan two years back when we were heavily hit by COVID.
I had to borrow some more money to cover the hospital expenses and other expenses during COVID when my father was admitted to the hospital. The last two years were horrible. I don't even want to recap what all happened back then. But today I'm very happy to share that from this month onwards I'm debt-free. I can start saving some money from next month onwards for at least a few more months till the end of this year.
When this loan is over, I'm already planning to get into another debt. But for the next 6 to 8 months, I will not be having any debt and I can possibly save some money for my next big expense. I'm planning to build a new house soon. The house in which we are living right now is having many issues. There are drainage issues, water leaking from the ceiling during the rainy season, ventilation issues, etc. We couldn't fix the issues one by one as the cost to fix the issues is getting bigger than constructing a new house. At least the new house will have proper planning and can withstand for several years.
Being debt-free is a great feeling and I'm glad I'm going to be like this for another few months. Hopefully, if all goes well, the new house construction should start or should have ended by this time next year. I would be taking a home loan from the bank. That investment would be a very big one because it is very costly to construct a house here. If fortune is on my side and if I'm able to spend enough time in the crypto world earning decent money, my plan towards repaying my home loan should be faster than I anticipated. Let's see. I was also thinking if it would be a good option to take a loan based on my crypto assets and keep repaying the loan in the crypto world. This way I can avoid some insane home loan interest that I would end up paying to the bank. Let's see what works well next year.
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👏🏻 Congratulations! Debt free is a big step towards financial independence.
https://twitter.com/bala41288/status/1545847160683769861
https://twitter.com/taskmaster4450/status/1545854629724004353
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Congratulations on your achievement.
Debt is a tricky thing that few realize. It can be used to make greater returns but most end up enslaved by debt.
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This is amazing. You are linking back to leoglossary even in your comments?
Wow. I have only started linking them to the post.
I hope we have our own Wikipedia through this means and draw those attention to ourselves.
This was a wise initiative, taskmaster. Well done
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In financial literacy, they distinguish between good and bad debts. But as you said it's tricky. Though one is planning to use it to grow his assets, it can turn against him once such an investment turns bad.
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Congratulations! It's great you were able to pay off your loan and recover financially from the Covid hit.
I'm super happy for you.
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Congratulations on your achievement.
🎆🎇🎉🎊🌧️💐✨🌾🌱🌹🌙🌿🍃🥀⚡🌺☘️🍀🌈🌷⭐🪴🌵🌸🌟💮🌴🌳💫☀️💮☔🌲🌳🌍🌌🌠☄️🏵️🐝🌻🌼🍄🐞🦋💙☕💜🍍🎆🎇🎉🎊
Congratulations @bala41288 My friend for paying off your all debts.
The day we take debt it start making us think of it over and over again (give stress & tension) like we don't feel like comfortable in debt's especially me.
It's Good that you're from debt's and can focus on other things freely and can start focusing on saving money.
Only up from there my friend! No debt is "good" debt as much as they try and tell you it is.
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Wow, congrats on that. Being free from debt is the most satisfying thing to hear. Struggles happened, and I get that, but look at your challenge pays fruit. 🥰
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Congratulations friend am happy for you just as you have said it is not easy covid heat so many of us so much just few month to my wedding I also experience such but with your testimony I also have hope and I will also share my testimony here like you do
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Many many congratulations bro :') It feels great when you don't have to worry about paying those monthly EMIs.
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Congrats Bala, Happy for you.
Constructing the house at the same place or you have bought another land for it?
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Oh my congratulations. I can't wait to be debt free too. I am so proud of you right now.
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Congrats! Such freedom needs a celebration!
!gif celebrate
Wow! Same dream here. I am anticipating your next report in July 2023.
!PIZZA
!CTP
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Congratulations on being debt-free. I am sure it feels great and I am also debt-free. Now you should have some more free cash to invest or spend on what you want.
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Congrats Bala the past 2 years had been a tough year for the majority of folks, especially the ones that got affected by Covid. Glad that you are on your way to getting back on track.
I do hope that the dream house will manifest soon!
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Congrats on wedding, on debt free and on future plans! This is what life is all about, we put goals and we crush them!
Crypto might be in low spirit at this moment but anyone who is around will notice that is not going anywhere... And the next leg is going to be bonkers. Meanwhile, low profile, work, and step by step!
Greetings from Spain
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Good one,it is always good to have that Kind of free mind after a long time
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Congratulations on becoming debt free it is an amazing feeling and I am sorry to hear about the challenges you faced over the past couple of years. All the best my friend in the years to come.
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Thank you. Cheers!