We have not had a car payment in close to 10 years and to be honest with you, we have kind of gotten used to it.
It’s hard to imagine having a car payment ever again and with proper budgeting, planning and faith in God, we hope that we never will.
Although a necessity in America, cars are not a good investment of your money and it handcuffs you financially.
If you have a car payment or two I challenge you to pay it off as quickly as possible and make a promise to yourself to never have another one.
Why? Because there is so much more that you can do with that money that can last a life time.
Take a moment and think of possibilities that could open up in your monthly budget.
What would you do without a car payment?
Here are a few things that we have been able to do.
- Give the kids music lessons or take them yourself
- Take martial arts such as Karate or TKD as a family
- Start or add to a college fund
- Start or add to a retirement account such as an IRA or 401k
- Give to missions or other ministries in the church
If you have a moment, please take to time to comment and share what you have been able to do or would do without a car payment.