debt diet and replacing cars: how to pay cash for a car

it has been 6  months 

since i celebrated this day

the day we could officially

declared at the top of our lungs

that we

had

no 

more

credit 

card 

debt!

i swear i never ever 

want to be in that place again.
ever. 

we now pay off everything monthly,
sometimes sooner
and we
prefer it that way

(again, thanks to
this man and his book
can't say enough about it)

so with 6 months of 

dutiful financing underneath our belt

we must think about the

inevitable

it is time.

it is time for us to upgrade the vehicle.

now most sane, normal, everyday americans 

go through this process every 3-4 years.

some wait even 6-8 years.

die hards will make it 10-12 years.
(the average is about every 5 years)

not sure what category we fall into.

we have been driving our beast for

14 years.  

crazy?

i know.

this is us the year we  bought our car.
the twins are 5 months old and big sis is just two.



it truly has been the greatest car ever.

many treks to our beloved disneyland
back in the day.

this was the girls
all geared up for a dad's-only
camping trip.

not sure where the time goes but it has gone

so now the search has begun.

let me add,
after we paid off our last car
(probably in 2008)
we continued to pay our car payment 
to ourselves.

**this is the key, peeps.
continue to pay yourself 
allowing at least 4-5 years of this 
and before you know it.
your pile of car payments to yourself 
is now equal to writing a check for your next car.

i know you want to celebrate
when you make that last car payment 
with a big steak dinner and 
more moolah for you.

but instead, 
start that 'car fund', 
stash it away
and watch it grow.


not a bad gig
really


lo and behold,
 we have a small stash of cash
ear marked just for that.

mamma needs new wheels.

so i must ask myself,

what do i want to still be driving 

in at least 14 more years?

i have some ideas...

hint, hint...

ever pay cash for a car?

would love your thoughts, strategies, car ideas.

all of it.

thank you dave ramsey and thrifty decor chick

can i say it out loud?

is this really happening?

has the day really come?

this is me,

hardly believing it

we

are

debt

free!!!!!

this is huge, peeps.

have imagined this day

have dreamed about it

have admired it in others living it

and lo and behold

it has happened.

let me back it up

i read this post
over at thrifty decor chick 

 way back in february of this year.

was so happy for her.

jealous of her, in fact.

wanted that to be me.

that was all it took.

after that day,

got mr. ramsey's book.

 

kept a notebook.

plotted.

planned.

and stuck to the path.

had some setbacks,

but never wavered in my goal.

i asked for your accountability here

reality set in?

not sure it has

probably will sink in next pay period when

i go to chunk down mr and ms credit card

and realize they are not begging for all my money anymore

and they have gone away.

far away.

for now.

i want to breath in this moment.

enjoy the freedom associated with it.

let it fill me 

aah

feels good

peeps,

i know how passionate money can be.

we all have our stories associated with it,

our hot buttons,

our preconceived ideas about it

oh  and let's not forget those in denial about it.

wherever you are on the spectrum

debt free living is:

pure

authentic

honest

noble

forthright

challenging

responsible

and 

living right by God

i want to stay right here for a while

so 

thank you,

dave ramsey

thank you,

thrifty decor chick

you did this to me

i am forever grateful.

please tell me your story.

where are you in this process?

does this ignite the same passion in you

as it does in me?

would love to swap stories,

be your cheerleader,

listen 

empathize.

we are all in this together.

“You must gain control over your money 

or the lack of it will forever control you.”
-dave ramsey

Financial Baby Step: 1

Debt Diet Update:

** no idea what I'm talking about?
Please refer to this post:
The Debt Diet
Might help jog the memory.

If not interested in personal wealth or living a pure debt-free life
this may not be the post for you.

Me?
Still working on that part.

Baby Step 1

$1000
emergency fund

Check.

This is a good step 1.
Usually happens pretty fast.


Purpose of Step 1:

Having $1000 in an emergency fund will allow you to
STOP swiping your cc and start using using cash.

Check.

Remember,
emergency fund money is for just that,
an emergency.

Emergency Fund Hints:
Not for the purchase of much
needed piece of furniture on clearance
Not for family vacation
Not for Christmas presents
Think broken A/C in 100 degree heat

Ah.
You got the idea.
I know...
it's not easy.

We are striving toward debt-free,
remember?

Okay.
Next step

Step 2
Debt Snowball.

This one is a biggie
and may be a bit more painful
and take a bit longer than Step 1.

Step 2
means stamping out all
credit Card debt.
What?
Does that sound un-American to you?


Well, we are here to forge a new path.
Freedom, baby.

That's what we are going for, right?

FINANCIAL FITNESS
is our goal

Would love to hear your success stories,
or
stories that perhaps aren't so successful.

I'm here for you.
Believe me.

Have found this to be a subject of passion.
Feel free to dish...

The Debt Diet

I'm a little afraid to post this,
but what do I have to lose, right?
I'm going in...

I just read

this post
over at
Thrifty Decor Chic.
(Thank you for your raw honesty, girl.)

I hung on every word.
I couldn't read fast enough.
I hooked on every link.
I read every connected past post.
I was with Ms. Thrifty on every account.

I think finances does that to me.
Actually,
I think talk of debt, finances, spending and saving,
ignites a passion in a lot of us.
For better or for worse.

Money talk can get very passionate.
It can bring up shame and disappointment,
as well as,
pride and accomplishment.

Personally,
I am slightly obsessed with money:
saving,
planning,
paying off
and
looking ahead.

Hubs and I pay cars off early.
We save.
We watch our spending.
We are extreme bargainers and bargain hunters.

But ultimately,
things come up.
Elite Athletic Club registrations,
Tournament Fees,
Orthodontia,
Car issues,
Unexpected Dental
You know the drill.
Stuff pops up.
It becomes a slippery slope.

Enter Mr. and Mrs. Credit Card
(Yes, we have two)
They have become our
"emergency fund".

Right now.
They are NOT my friends.
Their balance is making me sweat a little.
They are bigger than I can pay off in one months time,
or even two.
Grrrrrrrrr.
This keeps me up at night.

I don't like debt.
Never have.
In fact, I hate it.
It's NOT okay with me to have a
balance carry over to the next month.
I know it's what a lot of us do,
but I'm here to change that.

I want to be responsible financially.
I want to live an authentic, pure life.
I want to have an "emergency fund" in the bank to pull from
rather than rely on Mr. and Mrs. Credit Card.

I know,
we are lucky.
Our debt is not
exorbitant,
as some have shared.
But, debt is debt.
Right?
Whether it's a little or a lot.
Debt is debt.


Thankfully,
I have a small handful of role models in my circle
that do NOT have any CC debt.
Glory be.
I so desperately want to be in that group.
I will be in that group.

So here I am.
Asking you to be my accountability partners.

I am on a fast track to chunking down
Mr. Credit and Mrs. Card.

I have already mapped it out a million times on paper.
I've calculated.
I've recalculated
(remember, I'm a planner at heart)

I'm off to the library today
to pick up
one
Mr. Dave Ramsey

The Total Money Makeover:
A Proven Plan for Financial Fitness

Who's in this with me?
Hop on board.
We'll do this together.

We'll all hold each other accountable.
We'll hold each other up.
We'll cheer each other on.

We are strong,
but not perfect.

It won't be easy.
But we CAN do this.

Even if it's just little old me,
I'm going in...

I will keep you posted as I walk head-on into this.

Belt has been tightened.
I'm off to the library.

Wish me luck!