Jenni and I have been debt free, other than our house, since June 2013. But, for some reason, I couldn’t bring myself to actually close our two credit card accounts because I was still under the mindset that we “needed” them until we actually built up our emergency fund savings goal.
I felt secure knowing that I had access to $10,000 plus, even if it came with a 13.9% interest rate (or whatever the rate was). So, when we finally hit our goal earlier this year of having an emergency fund, it was a real reality check for us.
It’s not like we actually worried about the credit cards much. In fact, my cards were down in my office buried in my normal pile of paperwork and the card Jenni was carrying wasn’t even the newest card. Then, this past Sunday, we actually cut up our three (my two and Jenni’s new one) credit cards.
The funny part about it was that the cards were still attached to the paper they came mailed in. We hadn’t even activated them.