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We purchased our van last year at 0% interest, but with all the added buttons and whistles, the cost came to $42,000.00.
I'm on a mission to get it paid off. We have 56 months to pay it off, but I want to pay it off within 20 months, and as a surprise to dh for his 60th birthday. He has always wanted to retire at 60 but with vehicle payments, would have to work an extra 3 years.
So my mission is to cut corners even more, put every extra $$ we have towards the priniciple and see if I can get it done.
Anyone want to join me. It may not be a car loan, it may be a cc loan, a mortgage payment, or wanting to put a specific amount of money into savings by a specific date.
Here is some of what I plan on doing. I've gotten really lax in some of my frugality, but I'm going to get radical once again.
- no more soft drinks
- no more cake mixes or boughten cookies
- I'll use up all my quilting material I have here before I purchase more (this will be a toughie)
- cut our heating bill down even further by insulating as quickly as we can (end of April, first of May)
- put off getting new kitchen cabinets until the van is paid off
- purchase only loss leaders
- purchase as much as I can from the local farmer (I can get 75# of potatoes for $12.00. Five pounds of potatoes here are $4.59 and sometimes higher)
- redo my budget until it squeaks. (I'll need to leave a few $$ though for entertainment or else he just might get suspicious
- I'm closing out my bookclub memberships (I have enough books to last a lifetime and will continue to use the library)
Any other suggestions would be helpful!!
Edited to add: I'm combining my kitchen cabinet account and my change jar challenge account to make it into my van account, which when combining the two already has $182.52 in it.
I'm on a mission to get it paid off. We have 56 months to pay it off, but I want to pay it off within 20 months, and as a surprise to dh for his 60th birthday. He has always wanted to retire at 60 but with vehicle payments, would have to work an extra 3 years.
So my mission is to cut corners even more, put every extra $$ we have towards the priniciple and see if I can get it done.
Anyone want to join me. It may not be a car loan, it may be a cc loan, a mortgage payment, or wanting to put a specific amount of money into savings by a specific date.
Here is some of what I plan on doing. I've gotten really lax in some of my frugality, but I'm going to get radical once again.
- no more soft drinks
- no more cake mixes or boughten cookies
- I'll use up all my quilting material I have here before I purchase more (this will be a toughie)
- cut our heating bill down even further by insulating as quickly as we can (end of April, first of May)
- put off getting new kitchen cabinets until the van is paid off
- purchase only loss leaders
- purchase as much as I can from the local farmer (I can get 75# of potatoes for $12.00. Five pounds of potatoes here are $4.59 and sometimes higher)
- redo my budget until it squeaks. (I'll need to leave a few $$ though for entertainment or else he just might get suspicious
- I'm closing out my bookclub memberships (I have enough books to last a lifetime and will continue to use the library)
Any other suggestions would be helpful!!
Edited to add: I'm combining my kitchen cabinet account and my change jar challenge account to make it into my van account, which when combining the two already has $182.52 in it.