"Wobbles the Mind" (wobblesthemind)
12/29/2018 at 19:49 • Filed to: Finances
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"Wobbles the Mind" (wobblesthemind)
12/29/2018 at 19:49 • Filed to: Finances | 1
| 3 |
In my quest to extinguish recurring monthly payments, it occured to me that I should talk
to my apartment about paying the lease off in full.
I’
ve lived here 5
years and that would cut out
the biggest monthly payment I make. Well r
ejoice in the heedance of my meager quandary for I may now strip away $754 from my monthly expenses! This means that $809 a month (*cough*
projected
*ackhem*)
covers all my food, entertainment, utilities, and other
required
payments on a month-to-month basis.
The next part is becoming comfortably aggressive like mange on a child’s teddy bear in order to get the Grand Cherokee paid off this year while maxing out the $6,000 limit for 2019 IRAs. It will take me the entire year but I seriously think I’ve got something here.
In 2020, without monthly rent, a monthly car payment, and properly curtailed spending, I could be looking at living on $450 a month for that particular year. I still have every intention of making my dream garages happen, I’m just turning into a finance enthusiast so that I can make this car enthusiast thing realistic. I also want to be ready to take advantage of this upcoming recession.
Th is is the culmination of 6 years of progression through day-to-day, week-to-week (paycheck-to-paycheck), month-to-month (correct credit card use), and now entering year-to-year living (paying things in full annually/lifetime).
I’ll keep you all posted on my mistakes, successes, plans, and discoveries as I go from guinea pig to lamb-boar-guinea pig with whatever it is I’m doing here. Trust me, my mind is the most wobbled of all but like my mom says, "I f it works, marry it."
Monkey B
> Wobbles the Mind
12/29/2018 at 20:00 |
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you live once, a wise man once said “buy the ticket...take the ride”. If the financial decisions you make only effect you than you can’t really do wrong. Enjoy life, can’t take money with you. Plan for your future for sure, but don’t leave too much space for regret.
slipperysallylikespenguins
> Wobbles the Mind
12/30/2018 at 20:46 |
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How does that work with paying off a lease from an a partment? Isn’t that just a recurring thing forever?
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Wobbles the Mind
> slipperysallylikespenguins
12/30/2018 at 21:51 |
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T his is freeing up income month-to- month which helps me save up and takes a lot of stress out of finances . It’s like if you were given $24,000 as a flat total for the entire year. Most people would find that easier to plan with and unexpected expenses become manageable.
If that $24,000 was paid to you as $2,000 a month, then you have to be careful when expenses like tires or an $800 car repair pops up that month.
If it was paid to you as $461 -ish a week, then things like rent and car payments become a burden.
If it was paid to you as $66-ish a day, then all of sudden, even though your truck is paid off, filling the gas tank up completely may mean you dont eat that day unless you plan it out well in advance.
Not a lot of room for mistakes or flexibility which is super stressful living. Basically, I’m getting to a place where eventually 100% of my y ear’s income is saved so that I can live the following year off of what I mad e the year before.