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Posts tagged with: truck payment

Reasons to not sell our truck…

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Oops! Some readers have recently posed the question…

Why don’t you sell the truck?

I neglected to explain the reason we’re carrying the truck payment. It’s funny that no one noticed the debt on the truck earlier. It wasn’t until we paid down enough on the rest of our debt to make the truck HALF our total debt that someone asked about it.

My husband had a Chevy that gave out on us a few years ago and he’s one of those few people who actually need a full size truck for work. He tows trailers, fills it with concrete, moves landscaping, etc. A reliable full sized truck isn’t an option… it’s a requirement. We financed a Toyota truck for 26K two years ago and at the time, it was a great deal – or at least that’s what everyone likes to think after leaving a used car dealer.

Fast forward a few years, a few gas hikes, and a few construction related dents later and suddenly…

The truck is more than just a little upside-down – it’s hanging from its toe nails.

We’d MAYBE be able to sell it to someone for 8K… if we made them test drive it in the dark and promise them it got 58 miles to the gallon completely powered by canola oil. But since we’re honest folks, that’s not an option. Plus, we’d have to buy another full sized truck reliable enough to take the 25 – 30 thousand miles a year he drives for work.

Take the nearly 5 thousand we’d have to pay for our upside-down loan and add it to the cost of another truck and it just doesn’t make sense. I’d rather bite the bullet, pay if off by mid-year next year, and have a truck I know works for us.


Normal by the Numbers?

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I’ve been asked to reveal my actual monthly budget numbers. I was reluctant at first and then realized it may be a learning experience and I should see if I am normal in my expectations of my money.

No, I am not going to reveal my housing costs. Asking a San Diegan to reveal her mortgage payment is like asking a New York housewife to reveal her age. The only thing likely to happen is a giant string of lies.

I’m also not going to reveal our charitable giving amounts. What we decide to give is a very personal decision and it’s not an amount I’m willing to change just to pay more on bills.

Savings: $50
Electricity/Gas: $105
Cell Phones: $100
Cable/Internet/Phone: $100
Grocery: $300
Gas: $260
Laundry: $10
Toiletries: $11
Clothing/House Repairs/Animal Care/Spending Money: $200
Water: $70
Trash: $18

All remaining money is used to pay our mortgage, our credit card, our student loans, and my husband’s truck.

So. Am I normal by the numbers? What does your budget look like?