Thursday, 23 March 2017

Gonna Break the Last Chain

With me rushing down this last stretch towards Total Debt Freedom (sometime this year) my thoughts have turned towards life afterwards.

I will admit to crafting a budget or two which has no Truck, trailer or Credit Card Payments in them (and giggled).  

That is when something stuck out at me like a sore thumb, something which didn’t belong there anymore . . . 

Two regular payments will remain after I am Totally Debt Free, both I can do something about. One I choose leave alone, but the other one I shall deal with.

The one that I will leave where it is, is my phone bill. I need this because it is my phone and internet for my computer, phone and laptop.  

I am no longer on a contract where I am forced to pay them, I just still choose to. I have long since let that contract lapse and refused to get a “free” phone from the phone company. 

When and if I do upgrade the phone, I will buy it outright and most likely directly from the phone manufacturer. 

That way not only will I not be forced to stay with a particular phone company (due to a contract) but the phone will come “unlocked” so I can just go to another phone company if I choose (but I digress).

The steady monthly bill that I will get rid of (this summer) is my truck insurance payment.

I have been paying this thing regularly for years decades even, it has not even been a thought, as I can’t afford to do anything about it, or at least I couldn’t.

When the time comes to renew, I will just pay it all out up front. This way I will avoid the finance charges that they tack on, and I will free up a bit more of my cash flow.

What is more delicious a thought for me is that once the Wanda Loan is paid out, I will have no contracts forcing me to pay anyone anything . . . think about that for a moment.

I will still have that phone bill, but that is a bill of my choosing and under my control. I can cut that off if I so decide to do (or if I have to).

If there is an obligation to pay, as in an insurance payment or a truck/trailer payment, then that will take priority over food . . . think about that.

This is why I am looking forward to breaking the last two chains that bind me (Insurance payment and the Wanda Loan) where I will finally be free.

I will fund my savings as I regularly do, and my truck and trailer insurance will come out of that in one lump sum (each).

This way the money will be in my savings account and I will be earning (the miniscule) interest on it. 

Earning even miniscule interest is better than paying any kind of interest or other financing charges, if you ask me.

As always: Keep your head up, your attitude positive and keep moving forward.

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