Woo hoo! I have a plan
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| Wed, 12-15-2004 - 10:55pm |
I am so thrilled. I've already starting thinking about tax time and what we'll do with our refund. We usually get a pretty consistent amount back every year so I'm able to estimate and plan early.
With our refund we're going to be able to pay off our car. A ballpark estimate of what that will be is around $1640. Now I just sat down and looked at all the numbers and realized - paying off our car is going to save us! LOL That will free up $250/month. $100 of that every month will go toward paying my parents who bought us a car about 4 years ago, which died quickly. We still owe them about $2000 on it and they've been so nice to let us put it off when I know they need the money. The other $150 of that will go toward rent. (I should note that with the rest of the refund, after the car, we'll be putting 3 months of rent into the bank). So if my budget works we should end up staying continuously ahead of our rent by 2 to 3 months. woo hoo!!!!!! Oh this is so great. And we'll have a bit of the refund left to be able to catch up on some other bills and pay other things back.
So we'll be clearing up some debt and still have a very workable monthly budget. I'm am feeling very positive and relieved about the whole thing. I feel like this could work for us!!
And one more thing - this is the first time my husband or I have bought a car off a lot, with a loan. We have bad credit so his grandfather cosigned for us. Not only will it be great to call his grandfather to tell him the good news but this is the biggest purchase we've ever made. With only 2 exceptions we never had to ask for help with our car payment, and we were only late twice. I know that seems bad but for us it was a big deal. We're pretty proud of ourselves and I'm thinking we'll have to celebrate when we make that last payment!!!!!

Congrats! It's great to have a plan.
slojuly
That is an awesome plan!!!
I know for me, having those cars paid in full...*really* helps, those have always been a big chunk of change to make those payments.
Becky
CL of 4th, 5th & 6th grade Scoliosis
Thanks for all the encouragement!
I just guessed on my own. Our income hasn't changed really at all and neither have any other factors. We always get the same thing. LOL I haven't been to the IRS website so I don't know if it's up or not. I might check it out though!