Sunday, December 27, 2009

New Debt

I haven't posted in three months and my finances reflect my lack of focus. I've been on this debt-free quest for two and a half years and I really lost focus. I think several factors contributed to my relapse into spending, including the long-time in this step of debt repayment. Dave Ramsey recommends trying to finish Baby Step 2 in 18-24 months. I can see the wisdom in that.
My new debt is a car loan. I bought a 2004 Dodge Stratus, mainly for my son to use. Sharing a car was proving difficult once school and cross country were in full swing, so after much deliberation and car shopping I found a car that should last him through college. He is thrilled and I am able to make plans more freely.
My total debt is now just under $4000. Not where I wanted to be, but on the bright side, it is less than this time last year!
Time to refocus--plan meals, apply for a summer job.


The Lost Goat said...


Sometimes you just lose the gazelle-like intensity - I've been paying off debt for 4 years now, and all my little debts are long gone. And I still have probably four years left until I am debt free, barring accidents (knocking on wood). So I've lost intensity several times now.

But as long as we keep trucking along, put one foot in front of the other, and don't get into the I'm-in-so-much-debt-anyway-how-can-this-small-amount-for-this-thing-I-really-want-hurt mindset, I have faith that debt freedom will happen. Math says so;)

jpkittie said...

welcome back - you will do just fine..... you have done amazing up to this point, everyone has to expect a few set backs now & then...

RTC said...

Thanks, jp and lost goat. I'm trying to get back on schedule.