So my car talk and riding a bike really woke me up. I don’t think I can afford to not sell my car. If I had my full-time job and salary this might be easier, but if you want to be debt free it doesn’t make any sense to have a car loan on a Mercedes Benz. After going through the pros and cons I believe it is in my best interest to sell the car. Will this be difficult maybe, but I have to find out. I work part-time currently and to have a large payment is not the right thing to do financially. In Miami I am really trying to keep up with the Jones’ and that's not what I want to do.
I will put the car for sale on craigslist. If I can sell the Benzo de Lorenzo by the end of the summer it will basically cut my bad debt in half. I will need a vehicle, but spending 2K or 5K is a savings of almost 10K.
I hope I am able to sell it for a fair price. All I really ask is to sell the car for what I owe on the car. This could be more difficult but in the end worth it. I will start with craigslist and see what response I get and then move to local papers. I mean $300 for the car payment, $100 for insurance, and the potential of other costs that come with it. With a used car I will be able to have a very small payment if any and start paying off debt and not be afraid of not having enough money.
The Diet and Excercise Update
· Diet is going well I have only been on it for a total of 4 days but I am eating healthier and less. So far so good.
· Exercise this week has been great, I did the 8 to be Great workout 3 days, and have rode my bike at least 3 or 4 times this week and even went running once. I also played basketball 2x. What a week!
· Financially I have done a much better job of putting my finances in order. I have budgeted out to at least August. I sold 4 different items on ebay.com, and mowed lawn all for extra income. It is hard to put goals on my debt because of the part-time job. However, I will start doing a monthly goal list to take a certain amount of debt off of my credit card