That was the prime question in our weekly meeting, which we held last night. We played with the numbers and went back and forth with ideas.
The bottom line is that it's going to be possible but it isn't going to be easy.
I'm going to remind you that we're paying off the van a couple years ahead of schedule and we realize that if it takes us an extra month, we're still way ahead of the game. We know this. We understand this. We even talked about it but we kept coming back to . . .
How cool would it be to enter the holiday season without the van payment?
We would have our house payment and the $120 Saturn payment as our only debts.
It wouldn't just be a monetary change but a mental and emotional change. You want something to be thankful for on Thanksgiving? How about one less debt?
We figure that we can do it but we are going to have to be more careful with our money. In small ways, but we're at the point where every little bit helps.
When the debt is large, it's harder for us to be motivated. As it gets smaller and smaller, each dollar pays off a greater percentage and our motivation goes up. We're at the point now where our motivation is high and trying to figure out how we can cut costs.
The problem is, we have cut most of the fat off already. We have been spending on average an extra $25 a week at the grocery store. So, we'll cut back there. That gives us about $100 extra dollars. We have been going out to eat once a week which is about $20 a week. We're going to cut that out until the van is paid off so that's another $80.
That was everything we could see to cut. Beyond that, it becomes a matter of sticking to the plan and watching for ways to earn a few extra bucks.
It's going to be close but it's going to be worth it if we make it.