Wednesday, September 16, 2009

I am the proud owner of...


Sounds crazy, I know. Maybe it is, but I'm thrilled to say I own the hood of my car and before much longer I'll own the whole durn thing ;) Yeah-I'll explain.

Last night NewSpring Online had financial speaker Joe Spangl, host an online workshop. He was great and really inspiring (to me at least). He spoke about how he and his wife became debt free in 14 months, and no he doesn't make a killing either. He spoke about why it's important to be debt free and how it can enrich your life. I've always had a fairly good handle on my finances. I get that from my daddy. He made sure to teach me about finances at an early age, which I appreciate, I think it's the reason I don't have more debt than I do now.

At the beginning of this year, you may recall, I made a new years resolution to get an even better handle on my finances. I did, to a certain extent. I have kept up with my worksheets and graphs that I made. I'm glad I did, because this actually made things easier for when I sat down with Joe's worksheets.

So, how exactly did I figure that I own the hood of my car??

Joe has a crafty, little, nifty spreadsheet that he designed:

Ta-Da...a car. This little car has 435 squares in it. You just take what you owe on your car and divide it by the number of squares, this then gives you a price that each square is worth. When you make a payment, you get to color in squares.

This may sound and look a bit silly, I realize this, but it's exciting for just play along ;)

I colored in squares today and I am the proud owner of the entire hood of my car. haha.

Joe has numerous little graphs like this one, you can find them here if you want to make your own little "color in the debt" picture:

I've worked fairly hard to get Sev and I down to a car loan, truck loan, student loan and home loan. I realize that still sounds a bit hefty, but we're able to pay more than we owe each month, on each loan. I've decided to knock the car loans out asap, they are the highest interest.

I honestly want to be debt free. I don't want to owe ANYONE anything! I want to have financial stress relief. Now, luckily I don't have to stress much over money as it is, but I can't even explain how cool I think it would be to work each week, bring home a pay check and keep every single bit of it!!! (well, minus utilities...but that's life, and they aren't much. I could wait tables on the weekends and pay those).

I have a strong desire and urge to travel...far and for more than the typical "one week vacation a year" seriously boring is that?? "weeeee, it's the summer, we're hitting up the beach!! FUN...weeks over...see you next year....back to the grind" yuck. Nope, not for me. I want to go to Haiti and see my sponsored child. I want to go to other countries on mission trips. I want to drive across the USA. I hear Paris is nice. I wouldn't mind an authentic taco from Mexico ;) I also want to sponsor more children through compassion. I don't want to work a 8-5. I want to do whatever I feel like doing and having the freedom to do it. Why can't I?? I live in America. Well, I can't right now because I have debt. However...I won't have it forever...nope...because today...I already own the hood of my car!!!!!!


Meredith said...

Good for you! Keith and I feel the same way about debt and enjoy knowing all we have is our home loan and a bit of his student loan left. God's children have enough burdens to carry in this life without being a slave to credit card debt! I don't think Jesus intends for us to live that way. I'm proud of you for honoring God's provision over your family in this way.

Jackie said...

Girl you have always set your mind to something and accomplished it, I know you will this.

Haley said...

Hal and I have tried to do the same thing and it has really worked out for us; so much so that I am able to go to school and not have to work. Of course I am accumulating a student loan right now, but I think I'll be able to manage paying that off pretty quickly when I'm done. I have full confidence that this will be very easy for you!! Good luck!!

Autumn said...

You are going to do great! Jodi and Brad paid off their house last month, so they are COMPLETELY debt free, how cool is that? I can't wait to own a home and see how quickly I can color in the squares for it!! We are all here to support you if you need it, it isn't always fun, but it will definitely be worth it later!

Ron said...

Glad to hear it Lindz! Take it from me, debt free is the only way to be:)