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by Hope

While I was ill Beauty had her driver’s license test. Sea Cadet took her and my car. (We had gone a couple of months ago, but didn’t have the correct paperwork, etc.) She was able to get her license…barely.

Due to her not being legally my foster child and the liability implications, I did not attempt to add her to my auto insurance and would not allow her to drive my car. (This was not a surprise, we had discussed it, full transparency so she understood.)

She has been saving for months to buy a car. The week I came home from the hospital she found a car. After much discussion, and review, she decided to move forward with the purchase.

A Small Loan

Unfortunately, the car was more than she could afford. And while this local used car dealer has a good reputation, I was not comfortable with her taking on debt so young. And as you all know, the financing rate as those places is insane. Not to mention, it would have required her having to pay for full coverage on a pretty old car as a new driver…again, insane cost!

So call it COVID brain, or grateful to be alive brain, I made a spur of the moment decision to loan her the money she was short on getting the car. And she went and bought the car. They called me to pay the remaining balance over the phone.

I loaned her a total of $2,200 with the understanding that she will pay me $400 per paycheck until it’s paid off. That leaves her enough to cover her insurance, gas and have a little pocket money. And it cut her monthly insurance cost almost in half by not having to carry full coverage.

She’s already made the first payment…the loan will be paid off by the end of June.

The Money

Now before you jump down my throat, while I was sick, all my “extra” income just accumulated. So I had plenty in my day to day account to cover the loan. I did not touch my EF or any other savings accounts.

And the loan will be paid off before I made my last payment on my car which is what this would have gone too otherwise.

Finally, we have been helped alot over the years. I felt like this was a small way I could pay it forward.

Hope

Hope is a resourceful, solutions-driven online business manager with over two decades of experience helping clients streamline operations, manage projects, and grow their businesses through digital marketing and technology.

But life has a way of rewriting your plans.

A year ago, Hope made the decision to move in with her aging parents full time – a season she wouldn’t trade, even as it came with its own financial and emotional weight. Earlier this year, she lost her mother, and is now walking the tender, disorienting path of grief while learning what “forward” looks like from here.

Hope came to the Blogging Away Debt community in 2015 as a single mom raising five foster and adoptive children. She’s written through job changes, financial setbacks, and the bittersweet transition to an empty nest. Her kids are finding their footing in the world now – and so is she.

Rooted in faith and fueled by the same perseverance she’s brought to every hard season, Hope is ready to face her finances with fresh eyes and an honest pen. She believes that clarity, courage, and community can change the trajectory of anyone’s story including her own.

She lives in Austin, TX with her dad, loves adventures with her dog Addie, and is figuring out, one step at a time, what this next chapter is meant to be.