One Car Payment
Yeah, so about that. A few months ago…like weeks after my husband’s car was paid off he was involved in a wreck. He is TOTALLY fine, thank God but his car is no longer driveable. Originally when his accident occurred my first thought was, “I’m happy he’s ok” and the next was “OH SHIT ANOTHER CAR PAYMENT!” I started looking at my budget…because we know I like to account for EVERY cost. And I just did not see another car payment fitting in anywhere. The dollars didn’t make cents (see what I did there LOL) and let’s be honest, I just didn’t want to pay $300.00(+) for a car payment. Not to mention the cost of tags, and a down payment to go along with that. Just no thanks all the way around.
This year Markaus and I developed a plan for me to quit my job by the end of the year so I can work for myself full time. If this is your first time to my blog, Welcome (big hugs) and a little bit of back story. I have an online store/business that I partner with my sister Melanie. I also have a YouTube channel, and ofcourse, I write. These are the many passions of Megan that I hope to turn into an awesome income by 2019. Now back to the storyline 🙂 Since we are planning on me working for myself full time in 12 months, taking on another expense just did not make sense for us. The things we thought about are the fact that we want to lower our debt to income ratio as much as possible so that when I go in to the bank to finance my store, we will have a really awesome interest rate. Another thing that crossed our minds is lowering our monthly costs in the budget as much as possible. So you can see why we just do NOT want to purchase another vehicle.
What’s in the works now is Markaus grabbing estimates to see if there is any hope to get his car repaired at all. We have a number in mind that we are willing to pay to fix the front end of his car, but if it is not within reason, we will continue to be a one car family. Let’s go ahead and dive into these five pro’s and cons:
- Being at home during the day with the toddler means we rarely get to leave the house while Markaus is at work. If we have somewhere we need to go or something we need to do we rely on my sister (who is a sahm) to take us with her. So basically…less freedom.
- Less flexibility
- More wear and tear on your vehicle
- Scheduling conflicts
- Weather- There was one time where I was getting off work at 7:30 am (I work nights 3-4x a week) and just as luck would have it, there was ice on the ground. A commute that usually takes me 15 mins. took me 35 to get home.
- SAVING MONEY- Only one car payment
- More family time
- Less time for Amiyah and I to go spend money at Target because we are bored (which happens often)
- Communication amongst myself and my husband has improved because we have to constantly discuss scheduling
- Less of a carbon footprint #gogreen
- I’m naturally a homebody so I spent my time working on my days off to prepare myself for full time Entrepreneurship in a year
A Day in the Life of a One Car Family
Keep in mind that I work nights. If I was on a traditional 9-5 Monday through Friday schedule, our arrangement as a one car family may not work. On my off days I am in charge of waking up the school aged kiddos and getting them off to class in the morning. While I am doing that Markaus gets ready for work and is out the door by 0800am. During the day I spend my time working on the blog, my boutique, and editing content for my YouTube channel. Not to mention household chores, taking care of a 4 year old, and making sure I eat every 2-3 hrs to stick to my new eating habits. Before I know it 3pm rolls around, Areli and MJ are home. At this point we begin working on homework, getting chores done, and snacks get dished out. Then Markaus is home around 400PM. If I have a hair appointment or need to run to get my nails done, I make sure to schedule them for after the time he gets off, or on a Saturday before I go in to work. Have I told you lately that Wal-Mart Grocery Pickup is life?! On Saturday mornings when I get off around 0730AM I head down the road to do pickup and I come home to sleep. It doesn’t get any better than that folks!
Wrap it Up
I am fully aware that being a one car family is not the best situation for everyone. But if you are looking to cut costs and are just not in the market for a new vehicle, this may be the best option for your family. We are surviving and thriving off our current plan. I hope that you were able to gain some insight through this post.
What’s new in 2018?! You guys know I HATE resolutions so we are goal chasers over here! As I mentioned previously Markaus and I put together a plan for me to leave my corporate job by the end of this year and take on life as a full time entrepreneur. We made a nice lean budget and we are sticking to it! I am in the process of writing a book that should be completed by the end of this year, but with publishing and editing it may take a little longer. Also, I started a new weight loss journey during the holidays of 2017 (November to be exact) and I have lost a total of 26lbs in a matter of 8 weeks with NO exercise (Blog Post to come once I reach that 40lb mark 🙂 My goal is to reach 130lbs or a size 8…really whichever comes first. I am 4 foot 11 and I know what my body looks like at this goal size/weight and I will be so excited when I reach that point!
Thank you for being here and reading some of my crazy/cheap/entertaining content. You could be anywhere in the world, but you’re here with me- Thanks Trey Songz lol! Have an awesome day!