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Car Payoff

It has been a long time coming and I would be lying if I said that I hadn't really been looking forward to it. After about two years of payments, finally enough money being in the emergency fund, there was enough to pay off the car. And that, about 26 months early! The best part was the phone call from Toyota. The service rep asked if there was any interest in buying a new car. Of course, they would offer a discount of 1% on any financing needed.

I just think that there is a tremendous amount of pressure both from the company and from the society in general to stay in debt. I wasn't that surprised, but everyone loves to have someone in some sort of hock to them. And this, is the real crux of a personal issue I am struggling with. Dave Ramsey is so strongly against debt, it makes me wonder if there are some cases where it makes sense. Regardless of your feelings on this issue, it undoubtedly is better to not have any debt. And this month is the first month that there will be no car payment--I'm already looking forward to the bills this month!

Next on the list is to make sure that there is money taken and put into savings as well as continuing to pay on the remaining non-mortgage debt which is the student loan. After that, the next item will be saving money for the next car. The goal eventually is to start buying the cars at least 50% cash and it would be great to start doing that with the next one. I wonder how many people do that already.
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