Now that I’ve been putting in serious effort to pay off all my debts, I look back at some of my purchases over the years and feel a little post purchase regret.
When the car I had for 16 years finally gave up the ghost, I financed a used car rather than buying one of lesser value with cash. Then a couple of years later, I ended up trading it in and financing a brand-new car. Why did I do that? While I do like the car I have now, I should have just bought a used car with cash. A little bit after that, I had to get my wife a car because hers died too. I tell you; we drove our cars into the ground! We financed hers as well, but it was a used car for a good price. I’m trying to have hers paid off by year end. Maybe, if the stars align, I can pay off mine by this time next year.
In the computer department, I’ve had a hell of a time. In the last decade, I’ve gone through a ton of cheap computers. They didn’t last but in hindsight, you get what you pay for. Last year, my previous laptop was on its way out. It couldn’t go more than a couple of hours without hardware errors. I’d reinstalled the OS several times and the hardware was no longer supported by the manufacturer. I had to get a new one. But instead of buying another cheap computer, I told myself I should get a nice one because it’ll last. Talk about sticker shock! Next month I’ll pay it off, but I still wonder if it was the right thing to do. At the very least, shouldn’t I have gone for something in the mid-price range?
Looking at our debt and doing budgets has really changed the way I look at things and how I spend money. Let me tell you, living paycheck to paycheck is no way to live. But after starting this journey, I went from just surviving day to day to really thinking about the future. The changes we make today can have a real impact on tomorrow, especially around spending habits.
The idea that we could potentially become debt free in a few years is amazing.
Music: Evanescence – “What You Want”