Apr 11, 2009

things have changed

Okay folks, we've made a major change in our financial status. We traded in our old car for a fuel-efficient car. We now have a 2001 Prius. That shot up our debt to around $32k.

I'm not sure how I'll react to your reactions. Maybe I'll read some disappointed comments but that's okay, I'll take them.

Having made that move, I'm now calm and secure that I'll not have a pending (and scary) repair looming above my head. It just really wears me out. I've posted so many entries complaining about our old car. We traded in our car for $4k after not getting any interest on it on Trademe.

What's sad about this move was my carelessness to comb through the financial details. I don't know if I forgot or I ignored the numbers on Payment Protection Insurance. To get one, J was told that only 1 of us can have it so he chose himself as my job is more secure than his. The PPI is $2k and it was put on top of the car loan of $14k. What a rip off. I hadn't realized, nor asked J, if it would be separated from the financing. Imagine paying insurance and the interest off of it. Urgh. So right now, J and I are not in good terms after having a bad fight about it.

I blew my top off, you could say that, in addition to being a b*tch to J. He didn't realize that the PPI would be put in the financing either. I guess I put all my faith in him to figure all it out. All I cared about was the pay out. The whole drama has resulted to cancelling the PPI this week. Apparently J doesn't really care about having it. His intention was to protect the family in case he loses his job. When I asked him if he were feeling insecure about his job, he said no.

I'm still reflecting on this. I'm trying to see where I am confusing to him. He thought I would want him to secure the family, but at the same time he didn't feel that he needed to consult with me about everything. He says I'm controlling. I know I am but just because we need to straighten our finances out. I want to reach the age of 40 really feeling secure and abundant. I'm going on 32 this year and I was 30 when I started this blog. We're still in debt, more debt. At this rate, my goal at 40 is looking bleak.

Guestimaters for $100NZ
I'm requesting the 3 guessers to make another guess based on our current debt. The deadline is now set to May 1st. I really don't foresee additional debt this year. Our upcoming insulation installation will be paid in cash. Apart from that, I don't see anything else. I haven't blogged about a changed in decision to travel to the US this Christmas yet. More on that later.

3 comments:

  1. I follow your blog with interest because my situation is similar to yours. I'm the same age and I think we may live in the same area north of Wellington. We're driving an old car that has hit 220K on the odometer and I desperately want to replace it so I can stop stressing about repair bills but we don't have the cash either. Our debt levels are around the same levels your were (before the car purchase) so I'm reluctant to get a car loan. I'm torn between saving for a new car or throwing money at debt so I understand completely and don't blame you for getting the loan. Hopefully you and J get over your tiff and enjoy your car soon :)

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  2. Thanks for that message. I was reluctant to get a car loan, but every time I get semi-conscious about a probable repair it eats me for days. I realised that I'm not the type who likes car repairs on old cars just so I could save money.

    Let's keep watching each other's progress, shall we? :)

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  3. Hi Tasha--
    I'll make my guess in another comment...need to review the numbers!

    in the meantime, as long as you plan on driving that car as long as possible, congrats on the new car! Only you know what's best for you and your family. i would love to have an electric car!!

    regarding the loan fight--you are trying to protect your future and your family by gettng debt-free, i get that. however, it really sounds like your hubby had his heart in the right place, too, even if he made a major mistake and it is understandably frustrating you. you say that security is very important to you, and he tried to cater to that, although it ended up working against him. we are all allowed a few mistakes. it is part of the learning process. He will know from now on.

    also, it seems like he is giving up seeing his family and friends in the States due to the high cost of traveling there. it sounds like he IS making sacrifices, and he IS trying. I can't imagine how frustrating it is having someone else do things with money in my household that I can't control...but it's part of the process. You will make mistakes, too. good luck!

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