We are fast approaching a milestone in our debt free journey that I have been dreaming about for a long time. If all goes according to plan, we will have zero car payments in about 2-3 months. When I think about how much money I have wasted on cars in the last 10 years it makes me sick, so I try not to.
Based on what I've learned from Dave Ramsey and doing my own research, there is no reason for us to ever have another car payment. The only exception I can think of is if something happens to our van at a time when we don't have enough savings built up to get an adequate replacement right away. But even in that case my plan is to spend as little as possible and pay it off immediately.
Once we pay my car off, all we will have left besides our house are our school loans. One of those isn't very big but the other is kind of a monster. It costs us about $200 a month in minimum payments, so even if it takes us a while to get rid of it will feel pretty good knowing that that is the max we would have to pay out on any given month.
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