[homesteadmamma]

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.

 

[qponfanatic]

Sounds like a great plan!!!! I'm trying to cut back so that I can pay off some more of our crdit card debt. There is a women's conference at our church that I want to go to and I'm putting all of the money that I earn from surveys towards that at the moment. "Shopping" out of the freezer and my pantry is another way that I am trying to save money. We have so much packed into them and I need to use it up before I buy any more! Loss leader shopping is another 'Biggy" for me. Our garden should supply us with all the salad fixings for this summer. We're also planning on hitting the Farmer's Market this summer to get fresh produce that we do no grow ourselves.

 

[homesteadmamma]

Debbie, I know you can do it. You go girl!! You'll make it. If we can give each other suggestions and encouragement, anyone who wants to do this can.

I've decided not to take the doll making course. I can wait for that until later. I'm also going to close my bookclub accounts. I've got enough books to last a lifetime and I can continue to get them at the library.

As I think of more ways to cut back, I'll post them here.

 

[qponfanatic]

CJ what a grand idea. I was going over my budget just this morning and could really stand to make higher payments on my CC's.

I so want to get them paid off for good! LOL I could really stand to use up some of my stock items and try not to spend as much at the grocery store, no big lots (that's gonna kill me), and no wal-mart for a while!

 

[homesteadmamma]

Ellise, one thing I learnt when I went on my last mission to pay off $18,000.00 in debt, pay off our car at the time and to save enough money to pay cash for our new home (which we did) I needed to stay out of stores completely!!!! It was a very long 6 years and the only reason I went into any store (other than groceries) was to purchase winter clothing. The reason is took so long was because we had house payments and high city taxes. (we sold the house after we purchased this one).

I refused to walk the malls, refused to purchase anything just because it was on sale, and cut back. I quit going to yard sales and purchasing just because it was found at a yard sale. I made everything I possibly could from scratch.

We succeeded in paying off all that debt, paying off our car and paying cash for our new home!! So I know that I can get this van paid off within the time I want.

It can be done, it just takes hard work, sacrifice and a committment to sticking with it.

 

[PennyPinchinPam]

You can do it CJ! :hurray:

 

[mylittle4]

Ok I am saving for a screen printing machine and the software for making t shirt designs for dh. The only thing I can cut anymore is groceries. I have been trying couponing, but I don't feel like I am really saving that much and it takes a lot of time! So I am going to go for using a coupon on something I will buy anyways or if it is something we will eat and it is almost free. I also have to make more from scratch. I will be putting any extra income. Dh's upcoming bonus and profit from my clothing sales into this account. BTW- I need to save about $1000 to buy the machine and the software.

 

[homesteadmamma]

Angelee, I know you can do it. I'll be here encouraging you all along the way.

 

[Heather]

What a wonderful surprise for your DH, CJ!!! I just know you are going to do this!!!:smball:

Hmmm...I have been thinking about this since you first posted it and have decided on the loan we have...it is the highest monthly payment we have with the highest interest rate. It should be paid off in 18 months but I would like to do it in a year, the same time our van is paid off.....so next April no loan, no van payment!!! You are getting me all excited about this....I really can do this can't I??

 

[Mom23boys]

I know you ladies can do it!!

I have been trying to pay off our mortgage early. I have been adding extra to it every month in hopes that it will be paid off sooner!!

 

[homesteadmamma]

Heather, yes you can do it. The fun part is getting excited about something and then going for it gun-ho. It means working hard but it can be done.

With everyone doing it together, it goes lots faster and it gives you that extra umph you need.

 

[qponfanatic]

I'm so proud of my DH. He has been wanting to get a DISH TV network deal for awhile now since we are on antena and get very poor reception. Well, today a salesmand came by and they had this terrific deal!!!! However, when I called DH to ask him if he wanted me to do it, he said "No, I want to pay off some more of the bills first, we can look into getting it later". Now granted, part of me really wanted to get in on the deal because I really wanted the Angel One network and HGTV, but my wonderful husband is being so good about trying to pay off debt and I'm trying to support him all the way!!!!!

 

[homesteadmamma]

Debbie, good for him and WTG in not getting it. Just like he said, you can always look at getting it later once your bills are paid off. By then, you may not even want it.