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.
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.