For a while now, my main goal has not been to get us out of debt exactly. It’s true, we have a little bit (from a long time ago, eating away our credit rating). However, what bothers me the most isn’t that we only owe a couple thousand bucks total, but the fact that no matter how much money I bring home every week, it just isn’t enough to have any left over.
Yeah, right. Something doesn’t sit well with me at all about that. For starters, I’m not the one who really takes care of what gets purchased. Oddly enough, neither is my wife. Unfortunately, there’s not a whole lot that I can do to fix it right now (mostly because nobody will get on board with me for the sake of their sanity).
So here’s what I’m going to do. I’m going to eliminate the car note.
No, I’m not paying it off. I’m letting the car company take it back.
Wait, before you tell me that a repo is a horrible thing to have on your credit report, let me emphasize that I totally agree with you. It is a bad thing.
Unless it’s not on your credit.
See, this car that I’m paying for was purchased by my father-in-law. The car is only in his name, not even his wife’s name. Go figure. Well, he passed away about a year and a half ago. The car was passed to me and my family along with an almost $400 per month note (probably more, when you factor in all of the late fees and charges for paying at an authorized agent – $10 per month!!!).
So basically, I’m paying for something that I didn’t want in the first place (because I said I couldn’t afford it), took anyway (to help out the mother-in-law, as well as my family), and just as predicted, I couldn’t afford.
So they can have it back. That’s more money in my pocket. Fortunately, it’s income tax season. I should be getting a decent chunk back, and I’ll just buy the best used car or truck that I can find. Heck, it’s not like I go anywhere except for work anyway.
I probably should put some of that $400 in a savings account. Oh wait, I don’t have control of my cashflow (except the tiny bits I earn online, which help get me through the week on the road).
2009 will be the year that I begin to take back control of my financial life. I will be keeping track of this on this site. Isn’t it great when blogs evolve? Plus, you will get to know me a bit better, and maybe get some of my tips. I also hope you share your advice with me as well. I need all the help I can get.
This will be like trying to stop an advancing tank with a water pistol. What fun.
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