Gotta say, I am super excited!

[mickeysaver]

I had a talk with the bank that holds my car loan note. I wasn't sure exactly how many payments were left. By my calculation, I would be done say by the end of next year, but they told me today that I should have a title in my hand by late April! That means that I only have 5 payments left. That is a HUGE relief for me. I can then roll that extra money into paying off my Scooter by the end of next year too! That means that I should start 2013 with close to $600 a month extra that isn't spoken for in payments on something with wheels.

I can't wait! Ooh, I just realized that means that I will have all of 2013 to save for a trip to WDW for Layna's 4th birthday in January of 2014! I feel an excellent trip with a little Bippity Boppity Boutique and lots of Princesses coming on!

 

[StephMK]

Congrats!!!! Maybe you'll find a way to pay the scooter off sooner next year since you'll be so close. We are almost done paying off our van too and I can't wait!

 

[arthur06]

I remember the glory days of no car payments!!!

Congrats on an almost car loan free time coming up.

 

[mickeysaver]

We moved down here to Florida in February and I have driven my car, maybe 6 times since then. I haven't ridden my scooter in over a year now. Since moving I work from home, so if we go out, since we have the baby too now, we go in my partner's truck. It's much more comfy and family friendly than my little 2006 Focus 2 door hatchback when you are going places with the little one.

We have talked about trading me up to a bigger vehicle, but honestly, as little as I use my car, I don't see the point just yet. I have just over 32,000 miles on the car. It's in great shape and is pretty good on gas. As the little one gets more and more mobile and independent, I can see making trips in my car more often.

As for the scooter, it was bought a long time before the thought of us ever having to take on the care of an infant came into our heads. We are parenting our "surprise child" who is actually our great niece. Every day is a blessing with her around for sure, but we sure were not planning on becoming parents in our mid-thirties/early forties, but God had other plans for us and we are very thankful.

It has been a roller coaster couple of years, but I think that financially, I can see the light. Now, if we can just get that house in GA sold so that we only have one mortgage.

 

[valee]

Since you're already surviving while making payments, I may I suggest that you continue to make car payments, just to yourself? When I was in my twenties (decades ago), I set up a budget allocating a certain amount for car payments every month. Once my car was paid off, I kept making payments to a separate designated bank account (it's easy to set up automatic electronic withdrawal).
I use that account to pay for any needed car repairs. I've found that I hold on to my cars longer than normal, because I love to see that total grow. It's nice not to panic if there's a $1000 transmission bill, because I know I've got that much set aside. Eventually, the cost of repairs starts to exceed the amount I'm putting in, which lets me know it's time to for a new car.
When I went in for my second car, I had over three times the required deposit in hand, so had lower payments than I'd planned. I kept putting aside the same amount, just split between the dealer and my account. Nowadays, I can walk in and buy my car with cash.

 

[mickeysaver]

Valee, in an ideal world, before having 2 mortgages, and a "surprise child", I would have done just that. The "surprise child" could use to be enrolled in some classes to help her develop her muscles and her social skills, since she stays home here with us as we work our jobs. Plus, there is that whole, one day she is going to need an education thing, so the extra money will eventually start rolling into a college fund for her after we pay down some of the debt.

We were financially very comfortable before our lives were turned upside down a couple of years ago due to my MIL's illness, which then gave way to the "surprise child", and then the need to move to help us be together again and be there for the "surprise child" so she didn't end up in foster care, or worse. We have lost a Chihuahua this year due to Cushings disease, which still leaves us with 4 Chihuahuas and 3 cats. Two of our Chihuahuas have seizures and are on meds and special diets, which isn't cheap, but we took all of those pets on before when we thought we were never have a family that consisted of young ones without fur and four legs.

Every aspect of our financial existance has changed, which we knew that it would when we made the decision to be there for the baby. It's an adjustment that we would have planned for years in advance and been more readily able to handle, had it not been a suprise that required a move in a crappy economy leaving us with a house in another state that needs to be sold, so that we can have that money freed up to live on again.

It will all work out eventually, but for the past little while, our budget has stunk. I am just looking forward to knocking out the debt and being able to move forward. And, of course, a vacation at WDW like we used to do once a year would be awesome!

 

[valee]

My suggestion was one I pass on to many folks, and I recognize that everyone has their unique circumstances. I've worked with a number of young folks over the years, and have been tickled when I run into them years later and they tell me they buy their cars with cash.
Bless you for being willing to take on the extra responsibility of your latest non-furry little one. I was on the Ft Wilderness wagon ride last fall with a retired couple and boy who had come on a trip to WDW to celebrate finalizing their adoption of their 6 year old grandson. They talked about the adjustments they'd had to make, which they agreed were all worth it to them as well as to their new son.

 

[elainesj]

That's exciting! I worked on our 2012 budget last night and all was looking good....until at the last minute I remembered about our $600 a month van payments! UGH! With that, I've just about decided to cut out our 2012 WDW trip. I'm not willing to reduce our savings to pay for a vacation....so unless we manage to save like crazy all year, I just don't think it's smart for us to do WDW....even though we really want to. And I'm not sure I'm willing to compromise on all our daily living expenses all year long just for the fun of a WDW trip.

Lots of thinking to do to see if it's viable.

Unless of course we somehow manage to make an extra $3000 next yr!

 

[mickeysaver]

Yeah, we didn't get a vacation this year. We did get over to WDW about 4 or 5 times in the past 8-1/2 months. We had hoped for a whole lot more than that, but my MIL's health issues, baby drama, and generally being broke kind of has taken it's toll on our ability to even get a day trip in.

I am hopeful that in 2013 that I can be really good and save enough for a vacation like we used to take. The kind where you stay on property in a moderate or better for 7 to 10 nights, board the dogs at a good pet resort, buy whatever you want (within reason), and just enjoy the heck out of relaxing and letting your inner child out to play. We could certainly use some of that right now. By 2014 when the baby turns 4, we really should be able to do that sort of trip again if I work it.

We had talked with Layna's mother before she was born and called dibs on her 4th birthday. We told her mother then that we were going to take her to WDW and spoil the heck out of her. Little did we know how things were going to go back then, but still she should get the full blown Disney Princess spoilage that we had planned for back then, even if we are Mama and Dada instead of just those Disney crazy great aunts.