Ready to take the plunge?!?

Avatar for 2locachicas
iVillage Member
Registered: 05-14-2003
Ready to take the plunge?!?
4
Sun, 05-21-2006 - 7:33pm

So Dh has been at his new job for 3 weeks now and he is loving it. We have dropped him off and picked him up from the airport everytime. He drove himself this week because the kids still have school and he doesn't get in until after 11 on thursday night. But once school is over and we are homeschooling this won't be a problem.

So we are ready(We think!) to become a one car family. He can take the train into the city if he has an account there or his work will pay for one, they reimburse my mileage at .37 every 2 weeks so that is fine. We like the time in the car together because not only does DH not have to leave as early but it is extra family time....His car is paid for and work about 5K. Our credit card debt is at 6400 and I will be getting 800 from my moms estate soon so we can knock out that last 600 really quick and move onto our home equity loan.

We can't forsee him needing his car as long as we are here and if he should need one down the road we can cross that bridge when we get to it(at least 2 years away).

I am looking for any input on this. I don't want to rush into anything that would be a mistake but if it's what we are going to do I want to get to it.

Thoughts? The good, the bad, the ugly??

iVillage Member
Registered: 01-06-2005
Mon, 05-22-2006 - 3:35pm

I am so happy for you!

 

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Avatar for endomagazine
iVillage Member
Registered: 11-09-2004
Mon, 05-22-2006 - 11:32pm

Hello,


I would definitely recommend selling the second car if it isn't needed. Having lived as a one-car household for 6 years (and we *just* went up to 2 cars because we had to) I can definitely assure you that the cost savings are worth it. You won't be paying for oil changes, new tires, auto maintenance, gas for both cars, which will help your budget. The extra family time is also a bonus. If you can get $5000 or more for the second car, that would help you knock out some of that debt. Why not take the plunge?


It's worth it to reduce your debt and start snowballing toward your next target with even *larger* snowballs! You are working your way toward *Debt Free* and it's a great feeling!


Sincerely,
Lindsey Schocke

Geeks on Tap: Mission Accomplished

iVillage Member
Registered: 12-12-2004
Tue, 05-23-2006 - 2:24am
Hi, Loca--I agree with Lindsey---if you dont need a second car (expensive gas, maintenance, etc.) it might be worth a second look. For example, DH needs a car to get to new job, but no longer has to "drive around" as he is going to be sitting in an office, not doing extensive travel anymore. Where he works, DH says they give subsidized parking or incentives for those who take public transportation----buses, commuter trains, monorails---and the company will pay part of it, even for those who carpool in some way. (park and ride thing). Your DH can always rent a car if needed, in a pinch. Has he checked out what kind of incentives or reimbursement his company offers for commuters? Whiz.
iVillage Member
Registered: 03-27-2003
Tue, 05-23-2006 - 2:51am

I'm so glad he's enjoying the job and I would go for it in terms of selling the car.