My Last Car Payment- Slaying the Dragon

The Frugal Prof

Exciting news from Frugalville! 

It’s time to slay the dragon: my last car payment is here!

I am excited to send in the double payment this month which will be MY LAST Payment. However, I’m really excited for next month when I have no payment. No bill.  Nada.  That sounds good.  One less obligation weighing me down.

Once I cut out some of the fluff in my budget, the math just began to work in my favor.  I began to feel like I was running downhill, instead of fighting gravity.

I feel good, but there is much more to do.  Now, comes the part where I bank more of my income.  Save much more, keep investing, and cut up some credit cards.

Debit Cards vs Credit Cards:

I now have two debit cards and I like using them.  There is a psychological game we play when using credit cards.   It’s like we get to delay the bill for a month.  It doesn’t feel like we’re spending money.  Yes, they have done psychological studies on this.  I am going to see if I spend less with my debit cards over the next few months.  When I use them, I know the money will be gone immediately.  So, I think I should spend less.

Wants vs. Needs:

I’m still battling the wants vs needs issue.  I’m really used to buying whatever I want, whenever I want.  Example- I started getting into fitness again.  So, I am preparing healthy meals.  So, I’ve been buying cooking equipment that I want.  I rationalize that I need these items like measuring spoons, flour, bowls, pans, a rice cooker, etc… But, sometimes I buy things I need and they sit on the counter!  Yes, I still have not used the rice cooker.  UGH.

I’m thinking of rewarding myself with a very inexpensive drone (less than $40) to celebrate my last car payment.  What do you think?

Feel free to share your thoughts and comments.

The Frugal Prof



Getting results on the path to debt free

Financial Independence


When I began this debt free journey, I started making so many changes  to my life. I started reviewing my purchases.  I went back and looked at my old credit card receipts. To save money,  I closed my storage locker.  I switched to a less expensive  gym and saved money on my Satellite radio.  I made some extra money when I sold a bunch of my stuff on Ebay.  I reviewed my credit card purchases from 2016.  And I started taking control of my money.

That was the process towards financial independence.  And you can do it too! I reviewed  my credit card spending and cut back on every purchase I wasn’t getting maximum value from.  I cut out dumb spending.  And each month I would be able to save and invest much more of my money.  It was time to take control of my finances.

Debt Free Results:  My bank account balance was growing steadily into April.  And then on April 15th, my bank account went flat.  All gone.  I had to pay my taxes and it was very discouraging.

But here’s the thing.  I wasn’t discouraged because I knew the process of becoming financially free was working.  My bank account showed little in the way of results.  Yet, I knew that the process was working and I would accumulate more money in my bank account over the next few months.

This will set me on the path to becoming debt free and retire early.  But, there is a lot of work to do.

My setback was caused by taxes.  But everyone has financial setbacks in this process.  It could be a healthcare issue, buying glasses, an unexpected trip, family emergency, or taxes.  Setbacks are part of life.  That’s why you need a buffer and emergency fund.

Focus on the process to become debt free.  Once you’ve begun to make these changes, the process will create results.  You’ll begin to see results and will be able to envision the day when you are debt free or able to retire early.

But in the beginning, focus on the process.  That’s how you will get results.

And Keep Going!