Thursday, September 30, 2004

Small Victories

That's what this Blog is about. A lot of small steps towards getting myself where I want to be in the short term.

I'm still awaiting my $350 check...hopefully it'll be in today. I want to get the eMM stoked with another $500 deposit. Won't make it before the end of the month. Too bad. I've managed to be very frugal as planned the last couple weeks. If that continues through the weekend, I will be mailing that $1008 car payment on Monday. It will feel good, too.

I'm going to try to have a month end/month beginning summary/goals type post here in the next day or two. I'll chart my progress as well.



Anonymous said...

I really think you are on the right track to the right track.

I would recommend the book, "How to get what you want with the money you already have." Check it out on Amazon.

The author talks about paying the minimum on debt because you and your dreams and goals are more important than sending off all your disposable income to payoff your bills.

I know how it feels to be in debt, I was in my own hole once and I also wanted to pay it off ASAP. But when you send in money you don't really have you end up having to resort to credit again.

Better, I think to pay the minimum and save as much as possible. Cash is king not available credit. Factor the minimum on your bills as a fixed recurring expense in your budget then forget it. Do not fixate on the interest charges. Instead focus on the positive: the growing balance in your savings account!

We all have certain nicities we want in our life, is yours a nice car? Add your car payment, insurance, gas, and other auto maintenance costs (tires, oil changes, replacement cost, etc.) and you're looking at about $1000 a month...ouch!

Is transportation really worth that to you? Can you figure out a way to cut that in half?


B said...

That's great stuff and certainly something for me to think about.

My latest post mentions at possible $5000 windfall in November. Perhaps there's a better destination than the car payment?

For my car, I do travel quite a distance to work each day. Reliable and comfortable are what I need in that area. If I reach my goal of having it paid off next year, and are working part time, a less expensive to operate car might be the answer at that time. My Jeep will have value still and I might be able to trade it for something a bit less...

I'll check into that book as well.