Monday, October 15, 2007

I'm Not Keep Up With Them

I don’t get jealous of other people’s purchases. Especially their purchase of new cars, new homes, expensive new clothes, etc. There’s really nothing that I want that bad that is more important than working off my debt.

When I see someone driving a brand new car, I actually feel a little bad for them because I know they have just set themselves up for another 5 years of debt and are just that much further away from being financially free.

For years I always told myself and everyone I knew, “I’ll always have a car payment.” I blamed it on the kids. If I’m driving kids around, I need to have a reliable vehicle, right? I have had a car payment for 14 years. Sometimes I had two payments going at once, which is completely insane. On just my cars alone over all those years, I estimate I’ve spent $58,800. If I would have bought a $5,000 car every 5 years, for cash, I would have spent only $15,000. That thought sickens me. Think of the money I would have now if I would have thrown those payments in a mutual fund? Aye, aye, aye.

I still have a car payment, but am beating it down with a great big stick. I’ll never make this mistake again.