Monthly Expenses/ Income Advice please

[playamwj12]

I am very proud to say that I just clicked "approve payment" to completely pay off my CapitalOne Visa Credit-card balance completely. I have knocked $600 in credit card debt from my life completely! I have about $2400 remaining so I still have alot of work to do. But it is very pleasing to be able to delete this credit card from my budget completely and start working on the next.

Thank you for all your encouragement and kind words to help me towards my goal.

Michael

[disneysteve]

I am researching/ asking around the best idea to sell the jeep without taking a huge loss. It's worth less than what I owe of course.

How far upside down you could be on a 7-year-old car? How much do you owe and what does kbb.com say it is worth?

[playamwj12]

How far upside down you could be on a 7-year-old car? How much do you owe and what does kbb.com say it is worth?

I owe $11.$$$ KBB says 6 Grand mint condition.

[disneysteve]

I owe $11.$$$ KBB says 6 Grand mint condition.

Ouch. Did you roll over negative equity from a previous loan?

I'm afraid to ask but how much do you owe on the Prius?

[playamwj12]

Ouch. Did you roll over negative equity from a previous loan?

I'm afraid to ask but how much do you owe on the Prius?

I owe 27000. I will be able to pay these vehicles off much quicker as soon as I pay off about $7500 more worth of debt. I can then start pounding the loans hard.

[disneysteve]

I owe 27000.

What's it worth?

[playamwj12]

What's it worth?

mid twenty thousand range. I got a better buy on the prius

[disneysteve]

mid twenty thousand range. I got a better buy on the prius

Consider selling the Prius. As I said earlier, even without the Jeep loan, the Prius is way out of your budget. You shouldn't have a car payment of more than maybe $300 max so the Jeep is fine. The Prius however is $478. Bottom line is you've got way, way too much tied up in cars.

[Mictjustin]

Money management/ debt relief doesn't happen over night. Your on the right track. Congratulations!

[snafu]

Good on you for clearing a CC. What will you target next? You contribute at least $390. to the household which is modest compared to actual costs of rent, utilities and food. I assure you that we who live in the frozen north do not all have 4 wheel drives. I presume you enjoy off-roading. With winter tires and reasonable driving skills we traverse our icy, snowy mountain roads in blizzards without much slither [just a lot of complaining].

[disneysteve]

I assure you that we who live in the frozen north do not all have 4 wheel drives.

I frequently hear people say they "need" a 4wd suv because of where they live. All that is is people trying to rationalize their purchases.

[LivingAlmostLarge]

We lived 5 years without AWD and my DH lived his whole life prior without it in the Great White north. It is NICE to have though now that he's got it. He loves it. It is safer.

[EpicFinances]

Four things that need to be addressed in my opinion would be your vehicle costs, your cell phone bill, and your internet. You need to find any and all means to cut these down. It's $713 a month for those 4 items alone.

With your salary, you honestly cannot afford to move out. I agree with previous suggestions to sell your prius and try to cut down your cell phone and internet by at least $80 a month.

[DebbieL]

I'm Canadian, but I live in the perfect climate of Victoria, so no "great white north". Many years we don't even see a snowflake here. On the rare occasions we get a bit of snow our roads are trecherous (the ground is warm, so the roads turn into a sheet of ice if it cools down overnight after being warmer during the day). I absolutely avoid driving in the snow on the rare occasions we have any. I would only even consider it if I had AWD. You should see the amount of cars in the ditch when we get an inch or two of snow. Luckily it only happens rarely, lol. Other Canadians laugh at us (they show our hopeless driving on the news and other parts of the country laugh because we are sliding around with a little snow). However, the driving conditions here are NOTHING like those parts of the country. My parents came from Manitoba (so they were used to driving in heaps of snow), and they say it is not the same driving here when it snows. I'm just glad they moved out here when I was a baby - I've never actually had to cope with a "real" winter, lol. Green Christmases for me.

[Eric80]

it sounds like you have a good plan - however if you are unsure then speak to someone who would be able to advise you further and re-assure you that you are on the right lines. I went to a debt advisor and they were able to realistically show me my flaws in my plan and re-adjusted it slightly to suit me.