When you get real serious about getting your financial house in order Happy Hour and car new car payment will not be a priority. I financed a car for 4 years and paid it off in 2 years. Why because there was no way in this world I was going to be held hostage by a car note and house note (at the time). It was a Cadillac Escalade. Everyone was shocked, and the credit union was mad. I then drove it for 8 more years. CAR NOTE free. I think it was the best 8 years of my life. Lol. I drove it until the second transmission rebuilt went down and it would only go 65 miles an hour, but by then the houses were paid for and if I wanted to I could work part-time and write blogs like I am doing now. I sacrificed and suffered for 2 years but lived the dream for 8+ years. I think it was a good investment.
Ok the real question was how? I got a great deal and was in the process of building credit because at that time I had none. I paid $1100 a month for 24 months and paid the truck off early. By the 12 month the credit union was calling me weekly wanting to know did I want to refinance or need extra money. Apparently extra money was not a motivator for me because I put all my extra into paying off that truck and all bills surrounding it. THIS SENT MY CREDIT OVER THE TOP AND THAT LARGE PURCHASE IS STILL REPORTING.
STEP 1 – Got additional income. I took on another job. I taught classes in the evening. It is always my go to extra income since I finished college at 22. While in college I did nails for everyone in the building for like $10 minus designs to pay for my partying!!
STEP 2 – I took no vacation for 2 straight years. People proposed good deals and payment plans. NOPE I had my own plan. PLAN TO GET OUT OF DEBT.
STEP 3- Set a budget for everything. NO expensive wedding or birthday gifts for no one but maybe your parents, but this time go in with another sibling on their gift. Wedding gifts are just down to $10 gift cards or a bottle of inexpensive wine or on sale online wine. Find a discount warehouse. Happy hours are now potlucks at your house. No money for expensive drinks and so so food. If you have to go to the bar drink sprite plus cranberry juice and eat before you go. Happy hour is an easy $50 a pop and that is $200 a month. NOPE you cannot afford any of that while you paying off a big ticket item or just getting your finances FIT.
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