Here is where I’m at with debt starting out 2018:
- XF: $25,644
- WK2: $19,624
- Personal Loan: $4,530
- Student Loans: $2,927
*** Total Debt: $52,725 ***
Blue Book Values:
- XF Value: $15,000
- WK2 Value: $7,000
- Amanti Value: $500
***Total Asset Value: $22,500 ***
The goal is to trim away this $30,225 difference as quickly as possible and become debt neutral. There is still the likelihood of grabbing a CTS Sport Wagon for around $8,000 to $12,000 at any point. Either way, it looks as if it will be about 2020 by the time I’m debt neutral and 2022 for me to be debt free if I kept up the same lifestyle.
But of course there will eventually be a house in there so between the debt and the asset value I’ll probably be over the $50,000 total even if I were debt free.
What have I learned?
Much like when I realized it isn’t about how much I make but how much I keep, I am switching my focus from being debt free to asset positive.
I know, simple stuff but changing financial focus completely changes the way you go about handling the whole adulting thing. Covering the difference is the new motto. We shall see how that plays out.
**Edit: But that, “how much you keep,” part still applies. I need to keep as much as I can. I need cars payments to be like insurance payment options. I need to have the ability to throw $5,400 and be covered for a year of payments instead of $450 a month. It’s the same financial end but the lifestyle completely changes when you have an “extra” $450 every month. It’s weird to explain but Ill work it out.