We Made a Decision

**AmyBoz** · 04-17-2006, 02:32 PM

Well, as you know, dh bought a new car recently. It was a necessity, because 3 car seats didn't fit in his old one, and he is the one responsible for dropping all 3 kids off to their respective schools/daycares, come September. He shopped around and got an excellent deal (more than 1/2 off!) on a 2005 Eddie Bauer Ford Expedition. (LOVE it!)

Anyway, the payment is pretty much what my van payment is now...a little over $400. For the next few months, we will have both payments, and then my van is paid off. I've been paying $500 on my van to get it paid off early, and it did, in fact, take a few months off the loan. Having two payments is going to be TOUGH, especially since I'm not working. But, we can do it. What we've decided is that once my van is paid off, we are going to snowball those payments onto Rob's truck so that we can pay it off in 2.5 years. Yes, this means that things will be extremely tight, but as long as we can, we'll do it.

We looked at ways we could be more frugal around the house and in our daily lives, and are committed to doing this. We will still have two daycare payments which will total about $2000 for the boys,

but the good news is that Julia starts kindergarten in the fall, which takes out her daycare payment (which was another $800.) I will continue to teach piano and when school starts up again, we are hoping that I can get some extra money doing tutoring or bedside instruction. I am working part-time this summer, which will bring in some cash, but that's not as helpful as it sounds, since I always work in the summer, and this is the first time it's only part-time, but it's better than the nothing I've been getting paid since the end of February!

I have two large boxes of items to bring to the consignment shop and I'm hoping they will help to bring in some extra income as well.

So, wish us luck. I know we can do it! We just have to persevere and keep our eyes on the prize. It's funny, but it will be hardest once I go back to work in September, because we'll think we have so much more money with two incomes again, that it may be tempting to spend it! Not if I can help it!

(This smilie really doesn't mean anything debt related, but he's so darn cute...I couldn't resist!)

**Darlene** · 04-17-2006, 02:45 PM

Good Luck Amy!

**slowtypinwoman** · 04-17-2006, 03:09 PM

Boy! If anyone can do it, You and Rob can!! I have the utmost respect for your debt payoff ability!

**frugalnana** · 04-17-2006, 03:26 PM

Good luck Amy.

**banana** · 04-17-2006, 03:28 PM

lots of luck! you can do it!

**joyb** · 04-17-2006, 04:57 PM

Good luck! You'll make it.

guest7 · 04-17-2006, 05:32 PM

aaawwww Mom... do you really have to go back to work?

2.5 years in a lifetime is so minascule (sp?) I know you can do it!!

**PrairieRose** · 04-17-2006, 06:09 PM

It's a great plan Amy and I know you can do it.

**my4littlebuffaloes** · 04-17-2006, 06:53 PM

That is great that you have a plan to pay it off quickly. I have a question though - do you actually make money each month or does it all go to daycare? Would it make sense to take a year or two off and just do tutoring and piano teaching etc? so that you wouldn't have to pay daycare? I can't imagine paying that much in childcare! I only worked parttime after I had ds, after a few months I realized that I only made $100 a month after you figured in all the other costs like daycare and drycleaning, etc. I knew that I would lose money if I tried to work after having another child. I am just shocked at how much daycare is! Good luck with everything, you are definitely on the right track and you do a great job being frugal!

Jennifer