Well, I'm a bit discouraged about my husband. I was telling him how good things are looking for this year. How, if all goes well, we should only have about $8,000 of debt left by the end of 2008, and we could probably be debt free by May 2009 (except for the home mortgage).
Unfortunately, he was not so optimistic. He pointed out that our van will need to be replaced by then if it even makes it that long and his car will need to be replaced soon after that.
I said that we could save up to pay cash for the cars. He just rolled his eyes and said that everybody has a car payment. And that he wants a nice car, not a crappy one.
I wanted to say that if we started saving the $2,100 a month that we will be paying towards debts this year (starting in March), that at the end of a year we would have almost $30,000 saved to buy a car (or 2) with - but he was not in the mood to discuss finances.
I'm just hoping that our cars will last (which they should). Mine is a 1999 Mercury Villager minivan. It has a little rust on the hood which we are planning to get fixed soon, but I'm the one who drives this, not him, so I'm not sure why it bothers him so much.
He drives a 2001 Volvo "something". Nothing at all wrong with it except for being 7 years old (which I see no problem with).
Anyway - just hoping that things will work out and I can prove my husband wrong.
I did forget a little about needing to save the FFEF (fully funded emergency fund) after paying off all the debts. I didn't mention this to my husband. Maybe we can save for the new cars at the same time. We'll see . . .