Comments on: Looking toward the future http://sensetosave.com/2008/11/10/looking-toward-the-future/ Tue, 22 May 2012 02:42:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: joannahttp://sensetosave.com/2008/11/10/looking-toward-the-future/comment-page-1/#comment-23365 joanna Wed, 12 Nov 2008 14:06:05 +0000 http://sensetosave.com/?p=1065#comment-23365 I really enjoyed that post- thanks for the link! I have the same future goals in my mind, and it is definitely motivation to continue to work toward the seemingly "boring" intermediary goals. We just sat down last weekend to do a "budget check-up" to see that the long-term goals are still on track. So far, so good!As you and other commenters said, being debt-free frees up a LOT of money each month, and saving for seemingly big amounts goes much faster. We're working toward saving for a 6-month emergency fund, a trip to Hawaii, and maxing out contributions to a Roth IRA. All are totally doable when we live frugally and are debt-free!<em>joanna's last blog post..</em><a href='http://feedproxy.google.com/~r/blogspot/keepingfeet/~3/VkhaTybnb5g/joke-for-you.html' rel="nofollow">Birthdays galore</a> I really enjoyed that post- thanks for the link! I have the same future goals in my mind, and it is definitely motivation to continue to work toward the seemingly “boring” intermediary goals. We just sat down last weekend to do a “budget check-up” to see that the long-term goals are still on track. So far, so good!

As you and other commenters said, being debt-free frees up a LOT of money each month, and saving for seemingly big amounts goes much faster. We’re working toward saving for a 6-month emergency fund, a trip to Hawaii, and maxing out contributions to a Roth IRA. All are totally doable when we live frugally and are debt-free!

joanna’s last blog post..Birthdays galore

]]> By: Peterhttp://sensetosave.com/2008/11/10/looking-toward-the-future/comment-page-1/#comment-23302 Peter Tue, 11 Nov 2008 14:43:05 +0000 http://sensetosave.com/?p=1065#comment-23302 Being debt free is very freeing, and you end up being able to make a lot more choices about how you save, give and spend your money.We have been debt free for a while now, and that has allowed us to save up for the things we want/need, and not go into debt. For example, we just saved for and paid cash for my new car. If we hadn't been debt free and able to save up, that would never have been a reality.So pay off that debt and be free!<em>Peter's last blog post..</em><a href='http://www.biblemoneymatters.com' rel="nofollow">Money Matters</a> Being debt free is very freeing, and you end up being able to make a lot more choices about how you save, give and spend your money.

We have been debt free for a while now, and that has allowed us to save up for the things we want/need, and not go into debt. For example, we just saved for and paid cash for my new car. If we hadn’t been debt free and able to save up, that would never have been a reality.

So pay off that debt and be free!

Peter’s last blog post..Money Matters

]]> By: Rachelhttp://sensetosave.com/2008/11/10/looking-toward-the-future/comment-page-1/#comment-23270 Rachel Mon, 10 Nov 2008 23:01:47 +0000 http://sensetosave.com/?p=1065#comment-23270 Kacie, can I just say I love your blog? I was just thinking similar thoughts earlier today! How in the world will we pay off, in our case, our student loans? We'll never be able to buy a house! It's hard when so many of our friends are choosing to go into massive debt instead and are buying houses right now. We went and watched Dave Ramsey Live 2 weeks ago, and felt like the babysteps were the way to go. I agree with you; sticking with debt payoff will have a better return! Good luck!-Rachel<em>Rachel's last blog post..</em><a href='http://debtfreedowds.wordpress.com/2008/11/10/making-my-home-a-haven/' rel="nofollow">Making My Home A Haven…</a> Kacie, can I just say I love your blog? I was just thinking similar thoughts earlier today! How in the world will we pay off, in our case, our student loans? We’ll never be able to buy a house! It’s hard when so many of our friends are choosing to go into massive debt instead and are buying houses right now. We went and watched Dave Ramsey Live 2 weeks ago, and felt like the babysteps were the way to go. I agree with you; sticking with debt payoff will have a better return! Good luck!

-Rachel

Rachel’s last blog post..Making My Home A Haven…

]]> By: Karahttp://sensetosave.com/2008/11/10/looking-toward-the-future/comment-page-1/#comment-23268 Kara Mon, 10 Nov 2008 21:06:52 +0000 http://sensetosave.com/?p=1065#comment-23268 My husband and I are also working hard at paying off our car loan within the next year. We also have an installment loan to pay off. It's hard to always stay motivated on that end goal! When both of those debts are paid off I would like to travel more. :) My husband and I are also working hard at paying off our car loan within the next year. We also have an installment loan to pay off. It’s hard to always stay motivated on that end goal! When both of those debts are paid off I would like to travel more. :)

]]> By: trixiehttp://sensetosave.com/2008/11/10/looking-toward-the-future/comment-page-1/#comment-23267 trixie Mon, 10 Nov 2008 20:55:41 +0000 http://sensetosave.com/?p=1065#comment-23267 Hello,What a commendable goal to have the car paid off so quickly!My husband and I are out of debt except for our mortage so I'll share about that. It took quite awhile for us to get to the point of having a great down payment for a house.First let me say it took a looonnnggg time. (10 years before I saved up the 10% down for my first house). It wasn't always fun, but it was SO worth it!!It was a full 17 years after I first started saving for that 1st down payment before we bought the home we live in now. Thankfully because of all those years of saving and hard work we were able to put down a very generous down payment. We will have our home paid off in a few years.Our standard mortage payment (without paying extra) is very low. Some days I'm overcome with thankfullness for having such a modest mortgage payment. Debt really is bondgage and I applaude the efforts of you and your husband to recognize this and make the sacrifices to get out of it.It is such a liberty to not be tied down to a large mortage payment! No matter what happens to us financially we always know there will some way we can scrape together such a small amount of money each month. Plus we think ahead to the day when we won't have a payment at all -- freedom!!!!Blessings,Trixie Hello,

What a commendable goal to have the car paid off so quickly!

My husband and I are out of debt except for our mortage so I’ll share about that. It took quite awhile for us to get to the point of having a great down payment for a house.

First let me say it took a looonnnggg time. (10 years before I saved up the 10% down for my first house). It wasn’t always fun, but it was SO worth it!!

It was a full 17 years after I first started saving for that 1st down payment before we bought the home we live in now. Thankfully because of all those years of saving and hard work we were able to put down a very generous down payment. We will have our home paid off in a few years.

Our standard mortage payment (without paying extra) is very low. Some days I’m overcome with thankfullness for having such a modest mortgage payment. Debt really is bondgage and I applaude the efforts of you and your husband to recognize this and make the sacrifices to get out of it.

It is such a liberty to not be tied down to a large mortage payment! No matter what happens to us financially we always know there will some way we can scrape together such a small amount of money each month. Plus we think ahead to the day when we won’t have a payment at all — freedom!!!!

Blessings,

Trixie

]]> By: Kaciehttp://sensetosave.com/2008/11/10/looking-toward-the-future/comment-page-1/#comment-23259 Kacie Mon, 10 Nov 2008 18:09:28 +0000 http://sensetosave.com/?p=1065#comment-23259 The good news is if we simply make double payments (and make sure our last payment is six months' worth of car payments from the E-fund), then we'll have it paid off by the end of 09.The big question is whether to get rid of it even sooner. We'll save more in interest that way, but might have to sacrifice some savings in other areas. The good news is if we simply make double payments (and make sure our last payment is six months’ worth of car payments from the E-fund), then we’ll have it paid off by the end of 09.

The big question is whether to get rid of it even sooner. We’ll save more in interest that way, but might have to sacrifice some savings in other areas.

]]> By: Karenhttp://sensetosave.com/2008/11/10/looking-toward-the-future/comment-page-1/#comment-23257 Karen Mon, 10 Nov 2008 17:49:36 +0000 http://sensetosave.com/?p=1065#comment-23257 For me it helps to think of things in terms of time. When I was trying to decide how much of our income to put toward debt and savings, I looked at the debt and set a goal for when I'd like to have it paid off. I also figured out how much we needed to save for moving in 2 years. I found a balance between the two that allowed me to come as close to reaching both of those goals as possible.Doing it that way has made it easier for me to allocate funds when I value two things equally. That might be a good way for you to figure out how much should go toward your car payment. Just figure out how much you need to pay every month to have it paid off by the end of 2009 (or sooner if you want). Then you can divvy up the rest of your discretionary income based on your priorities. If there's nothing left over, then you can decide if paying off your car that soon is really your top priority or if you'd be ok with extending the time period.<em>Karen's last blog post..</em><a href='http://livingwellonless.com/2008/11/10/planning-ahead-for-the-big-stuff/' rel="nofollow">Planning ahead for the big stuff</a> For me it helps to think of things in terms of time. When I was trying to decide how much of our income to put toward debt and savings, I looked at the debt and set a goal for when I’d like to have it paid off. I also figured out how much we needed to save for moving in 2 years. I found a balance between the two that allowed me to come as close to reaching both of those goals as possible.

Doing it that way has made it easier for me to allocate funds when I value two things equally. That might be a good way for you to figure out how much should go toward your car payment. Just figure out how much you need to pay every month to have it paid off by the end of 2009 (or sooner if you want). Then you can divvy up the rest of your discretionary income based on your priorities. If there’s nothing left over, then you can decide if paying off your car that soon is really your top priority or if you’d be ok with extending the time period.

Karen’s last blog post..Planning ahead for the big stuff

]]>