Wednesday, August 22, 2012

Taking down 2 debts before New Year's


Thanks for all of your responses to what to do with my secret stash. As some of you suggested, I will use the $2000 to pay off the car loan, when November comes. I'd love to do it in October, but I'd be short by $250. I could ask my dad or brother for it, since it is their car, but I wont even go that route. Not worth the aggravation. After that, instead of working on rebuilding the $2000, I'll be paying off CC1 by Jan 2013 as per Mysti's suggestion. I'll be so happy to just see it gone! THEN I will rebuild the $2000 and hide it somewhere. Of course, while all of this is going, I'll be putting my EF back together, and it should be done by March 2013 if no emergencies do come up. (Ha-ha-ha)

In case none of that made a lot of sense, the important thing is that two of the debts will be gone 6 and 4 months earlier than they were supposed to! I am so excited for it, as I can feel like I'm finally making some headway. Slowly. The rest of the debts are still on schedule to be paid as agreed.

I think I've looked at mortgages and everything that comes with it (front-end ratio! Back-end ratio! Mortgage points! PMI!) for enough time. So instead, I'll be looking at the prospects of buying a car within the next 2 years. I hate car payments, so I hope I don't end up buying new. Whatever car I pick will be driven to the ground quite literally, so it may be worth it to go new, especially since new cars right now cost about the same as used. I just something new to me, because as I've mentioned before, I really, really dislike my 'loaner' car. And I'll need a reliable vehicle once I move. So if cars are also on your mind as well, check out some of Michele's posts here and here in regards to their new Jeep, or Sluggy's post on her son's car. I do like Hyundai cars a lot!

8 comments:

  1. I love that you drive the cars into the ground. That's what we do too. I never understood folks who keep upgrading every two years. Really, I don't get it!
    m.

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    1. I never did either... not to mention the expenses!

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  2. I am very proud of you. You are making it in spite of your parents. I too have a mother that supports two of my brothers they, are lazy manipulative users and I just pretend that I don't have them as they upset me too much.

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    1. It's bad that there's so many people under similar situations, but I guess I'm not alone with this sort of burden!

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  3. Just a thought... If you are planning on moving to Chicago, a car might not be such a good idea. Parking in Chicago is very pricey. Of course if you aren't going to be moving there for a while you can get the car and sell it when you get there.

    -Brian

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    1. Thanks for the note! Though I often say Chicago, I also refer to the surrounding suburbs. I don't think I could do with living right downtown so quickly!

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  4. What if after you pay off the car you're basically buying for them, they decide to upgrade and get another car payment and expect you to pay it?

    What are you going to say? No, finally?

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    1. That'd be a no, correct! My father has been talking a lot about trading it in, but I am washing my hands off that with the payoff of this car.

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