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Truck Savings Update!

April 15th, 2011 at 07:44 am

Pay day is here. We were able to add $1627 to our truck savings. That brings the balance to $10,250!! We are getting very close to the goal.

I think near the beginning of May we can proceed to find a new to us truck. We are still trying to determine what to get and how much to actually finance. In truth, we may not put the full amount we have saved towards the truck. The only reason we won't is because of the high probability we will be running two households in the coming year. Cash will be key in keeping the additional debt down.

Do you think that is a good idea? Or should we take on less debt now and take on more debt if we need it in the next year? I don't know that we will need it, but I think I'm just trying feel some control in something that feels out of control.

3 Responses to “Truck Savings Update!”

  1. LittleMsMom Says:

    If it was me, I would probubly pay CASH for the truck, then break into the EF if need be for the two household time.

    The reason is if I know I am planning to use the EF for it, I will try harder to build up the EF. If I took out a loan, then I would slack a bit because I would still have the EF.

    But that is just me.

  2. Jerry Says:

    LMM makes a good point above, and I didn't think of it that way. Anything that leads focus away from maintaining the EF could be problematic for some people. Not necessarily you, of course, but for some. The thing that keeps you feeling some insurance of the greatest level of financial control is probably the best option for you, and only you know what that actually is! Good luck, whatever you decide...
    Jerry

  3. creditcardfree Says:

    @Jerry...thanks. You are correct we need to decide for us. I always appreciate your insight and comments.

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