only backgroundI'm a wife, mother and grandmother. I'm opinionated. I contradict myself frequently. Most of all, I love my kids. I believe in them. I fight for them. They're weird and wonderful. If you want to know more, here's a bunch of other stuff from my old site.
Thinking My Way Out Of Debt
- by Marisa
- July 12, 2007
I’ve been trying to so hard these past months to get out of debt and I think I’m finally seeing some progress. We’ve paid off Brian’s truck, the Honda and the shop. We still have the house and my car but that’s manageable. Once those are paid off, it’s just he utilities.
I’ve been thinking about cars lately, too. It was nice getting a brand new car but I’m not sure it’s worth it. I put so many miles on my Malibu that it was out of warranty two years ago – and I still have another year to pay on it! So I was thinking that maybe it would be more financially sound to buy a used car from a private individual for around $3000 – $4000. If it lasts 2 years, that’s still a lot less than my monthly payments for two years on the Malibu. In fact, if I put away an amount equal to a car payment each month, at the end of two years I’ll have enough for another used car and some left over for the car insurance.
You know, if I keep thinking like this, I’ll be debt-free in no time!
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I read a story about a year ago about a couple who paid off their car, and then continued to make the same monthly car payments to their savings account… when they were ready to replace their car, they had the money to pay for the new one with cash. And the cycle continued…. it’s a really good idea, and one I hope to implement when the Honda is paid off. Yay for getting out of debt!
I really enjoyed your aspiration about Dandelions. I’ve added it to my blog.
Kudos for getting closer to your debt free goals. Now that you have inspired me through dandelions I wanted to share this link with you. It’s the first 20 min. of “The Secret”
Through following a few of the suggestions I have already manifested myself a new life and career in Wyoming. It’s beautiful here!
Thanks for your words
Have a Wonderful Life :0)
Also, you could try just having the engine and transmission on your present car redone, and hopefully it will last a few more years, assuming the body is in good shape.
My dad always told me to keep an old car for as long as repair costs were annually less than a year’s worth of car payments.
That’s an excellent way to save money. Why has it taken me so long to figure that out?
Thanks. Sounds interesting.
I suppose that would work. But I’ve found that the more money you pour into a vehicle, the more it needs in repair. An no one in my family does car repair, unfortunately.
In that case, I’ll be keeping my Malibu for a very long time!