Become Debt-Free With the Jones’

Well I did something pretty fun this week. I sent in my last car payment to the bank. So now my 2004 Pontiac Aztek (aka “Bubba”) is officially paid for! We also paid off Jimmy’s truck in December so now we have NO car payments. How cool is that?

Between the two of us, our car payments cost about $600 every month. Now that $600 will be going towards our credit card bill. Once the credit card is paid off, we’ll put that money towards our second mortgage. After that, we’ll tackle the monster–our 30-year home loan. However, if we stick to our plan we could have our mortgage paid off as early as 2018 (instead of 2033). I haven’t done the math on how much money that would end up saving us in interest, but I’m sure it’s a lot!!

Granted, we do anticipate a few hiccups along the way. We need to do A LOT of the work on the house. Bathroom, new roof, windows, shed, kitchen . . . But at least with a little bit of careful planning we’ll be able to pay cash for these improvements without dumping more on the credit card. Also, we’re not sure how long Jimmy’s truck is going to last. He has a 2001 Ford Ranger with over 150,000 miles. He puts a lot of miles on his truck for his business and over the years it’s been less than dependable. In fact, most of the balance on our credit card is from truck repairs for the Ranger. BTW–the Pontiac Aztek might not be the best looking car on the road but I’d buy one again in a heartbeat. Other than routine car maintenance repairs such as brakes, wiper blades, oil chages, etc. I’ve had no problems with mine (KNOCK ON WOOD).

Anyway, like Dave Ramsey says in his book, the Total Money Makeover, becoming debt-free isn’t complicated but it’s not easy either. It takes a lot of patience and self-discipline–not unlike the qualities it takes to become successful online. All you have to do today is resist the urge to drive around in the latest and greatest vehicle and 30 years from now you’ll be able to afford (and pay cash for) the car or truck of your dreams.

BTW–here’s a picture of Bubba before I gave him a Photoshop car wash. I could have made him a little cleaner in the above photo but I have other things I need to get done today!