My mission: To help you have greater control over your finances without it taking over your life!

I Sold My Car and You Can Too!

Posted: August 17th, 2009 | Author: | Filed under: Debt, Debt Reduction, Tips | 1 Comment »

pictures 040I think I have gone com­pletely crazy. I men­tioned before that my wife and I have been read­ing the book “The Total Money Makeover” by Dave Ram­sey and have been quite inspired by it. So inspired in fact that I sold my 2008 Nis­san Pathfinder.

Before I go any fur­ther, I must say that no, Dave Ram­sey is not pay­ing me to write these posts!

I have to say that the thoughts / emo­tions that I went through along the way have run the gam­met from

  • “I really like my car, why would I sell it”
  • *Sink­ing feel­ing in my stom­ach as I turn over the keys*
  • “This is the best thing for my family”
  • “Am I really doing this”
  • “What have I just done!”
  • “What are other peo­ple going to think?”
  • “What do I need a car for anyway”

Ulti­mately, this move has brought us $20,700 closer to being debt free and there are a num­ber of other benefits.

  1. We have started walk­ing more places. It also helps that there are mul­ti­ple restru­ants, gro­cers and side­walks in our area.
  2. Our insur­ance has gone down more than $800 a year.
  3. We will prob­a­bly save $150 a month on gas. A sav­ings of  $1800 over the course of a year.
  4. We no longer have a car pay­ment and this money can now go towards the remain­der of our debt. 

If you have a large car pay­ment and want to quickly kill a sub­stan­tial por­tion of your debt, get­ting rid of a car can be a great option. Our sit­u­a­tion is opti­mal as I work from home and can pospone any travel needed with a car until my wife arrives home from work each day. If you still need another car, buy a great used car in the $3,000 to $5,000 range is much bet­ter option when you are try­ing to rid your­self of debt.

We sold our car to Car­max who gives a 7 day guar­an­tee on any appraisal that they give. I feel that we were for­tu­nate to get more than what we owed on the vehi­cle. I am def­i­nitely look­ing at this as a “teach­able moment” in which I hope that my story can help inspire others.

With this move, we are $80,000 away from being debt free! I am super excited to see how these changes affect our lives and will be giv­ing updates as time passes.

If you have done some­thing sim­i­lar, I would love to hear about it! Just leave a com­ment below.

Becoming Debt Free

Posted: August 17th, 2009 | Author: | Filed under: About this site, Debt, Purpose | No Comments »


I am start­ing this blog to write about my expe­ri­ences with life and money. To be more spe­cific, I would like to write and share how my wife and I are becom­ing debt free and the sys­tems that we use to man­age our finances. This has been a long strug­gle for us already as we have been attempt­ing to become debt free over the last cou­ple of years. And, for the most part, we have been suc­ceed­ing with this goal. We have been pay­ing down dif­fer­ent debts over the last cou­ple of years while still liv­ing what I feel is a fairly extrav­a­gant life.

But things have now changed.

We were given a book by Dave Ram­sey titled “The Total Money Makeover” and were VERY inspired by the book. We have taken his advice to heart and I will be post­ing about the dif­fer­ent steps that we have taken to become debt free. Although his book is an excel­lent read, I hope to show oth­ers the tech­niques we use to man­age our finances.

My goal is to help oth­ers man­age their finances in the 21st cen­tury. I will be post­ing reg­u­larly about

  • Our monthly finan­cial status.
  • Tips, tricks and tuto­ri­als to best make use of tech­nol­ogy to help oth­ers man­age their finances.
  • Share strug­gles and suc­cesses that we have along the way.

My hope is that other will find this infor­ma­tion use­ful and can apply it to their daily lives.