Thursday, June 23, 2016

Voting by My Actions

So, even though we need to focus on savings and adding money to our 2016 IRA (in 2015 we saved nothing in our IRAs), I find myself doubling up my monthly payments for my nused car (purchased in December of 2015).

Why am I doing so?  Well, we paid off Mr. Sam's 2013 truck in full as of last month.  That means that I have an extra $500 a month.  So, rather than using that $500 for savings I sent it off to Chase for my auto loan.  I'd frankly be better off putting that $500 towards our linger credit card debt (now down to $1195).

So why do I make these choices?  I much prefer killing debt than saving money.  Now don't get me wrong I love saving money and watching the balances grow in our retirement accounts.  But, I seem to get more satisfaction paying off debt.  I also am not a fan of car loans.  I'd prefer to pay cash for cars, but over the course of 2013-2015 we found ourselves buying a new truck for Mr. Sam and a nused car for me.  I seem to dislike car debt more than credit car debt, etc.