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A talk with a co-worker

April 21st, 2006 at 02:07 am

I work with a woman that I like a lot - she is in her mid 50's from what I can tell. I know she has a very tough time financially. Today we were talking and she said she has $3.53 in her checking account. Luckily we get paid tomorrow. She makes maybe $150-$200 a week because she's part time and doesn't make much. Her car payment is $260 or so per month and it's impossible for her to pay the bills.

I was thinking to myself that I would get rid of the car, but I think differently than most people. I bought my car for $750 from my mom about a year ago. It's less than 10 miles each way to work and I run errands in town a couple times a week (library, consignment shops, etc.) My car is 16 years old but it runs. I haven't had a car payment in about 8 years, and neither has DH. That is a major way that we save money. We decided long ago to put money into a new house. I have no regrets about that decision - the house increased in value before we even moved in.

2 Responses to “A talk with a co-worker”

  1. markio26 Says:
    1145768456

    cars are depreciating assets.......a home appreciates as you know... your thinking just fine. we pay cash for our vehicles when we buy and try to keep them at least 10 years.

  2. Bronwyn Says:
    1146862168

    I love your journal - you are obviously very fond of this lady so please tell her to go to www.daveramsey.com for some very sound advice on her finances. Dave's book - "The Total Money Makeover" has saved my life, my home and getting me closer to being debt free. You take care from Sunny South Africa

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