Friday, October 6, 2017

New Financial Goal - "Paying Off" Laverne


Last spring, as you may recall, I purchased an older, let's say vintage, motorhome.  And I named her Laverne.  I was really fortunate because she is in excellent condition for her age.  I had budgeted a set amount to purchase a motorhome and when I found Laverne I was able to buy her for less than half of what I had planned to spend.  That was also the biggest reason I was able to make the purchase an entire year sooner than expected.

My little backsplash project - $24
Radiator cover grates!  Pretty clever!
Now my goal is to put back all of the money I took out to pay for her, register, insure and license her.  Additionally, I plan to add on what I spent on the first renovations as well as "interest".  I'm really excited about this goal because I'm paying myself!  How cool is that?!  Pretty dang cool, if you ask me.


Of course I have a deadline, because what is a goal with out that?  My goal is to get it all put back within six months.  I've already made a good sized dent by making two "payments" last month, one on each payday and I plan to continue to do that for the duration. 

Bathroom update - $258
The tiles consumed most of that amount - $209
Pricey, but I'm really glad I did it
The rest was the showerhead and some paint

We'll see how well I do.  After all, between now and then are several birthdays and let's not forget about Christmas too.  I've got a pretty good plan mapped out so I'm very optimistic and I'll be keeping you posted on my progress.



14 comments:

  1. Of course!! you are going to put the money back! You are such a smart lady. I still wish I could find my own Laverne!

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  2. As another single mom - I don't know how you do it! I am so proud of you. I am sure your house note is far less than mine as I just got my home in 2010. I so wish I could save more. Every penny of mine is appropriated with not much left. I did recently get a promotion and a much needed raise. I know extra taxes and retirement will take a good chunk of it as will healthcare premiums that are going up for 2018. What is left I hope to be able to make an extra $100 on my mortgage each month and have a little extra to replace maintenance type things. I need car tires right now. Always something. Everyone's budgets are so different, it does make it hard to compare and see what you could change.

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    1. I understand as I've been where you are now. It will get better though as time goes on. Just do your best and know that for right now it is enough.

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  3. Now why have I never thought of that... paying myself back??!! I took out quite a chunk of my savings for my kitchen remodel and I'm going to make a plan now to pay myself back for that!!

    Tania

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    1. Yes Tania! Good for you!!! You won't regret it.

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  4. So happy for you.. I love finicial goals.. It keeps us motivated.
    My husband had to buy a new 4-wheeler.. [he has had 3 back surgeries and can't walk very far with out it]. His old one finally played out.. I am doing the same thing... I make 2 payments a month, so instead of 4 years if payments and interest, we will finish in 2.. Plus , I am setting aside a money jar and putting loose change and any extra money. I will apply it also.. hopefully, get it paid in less than 2 years..
    Best wishes with Laverne..And your goals.

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    1. That is really wise Judy. I'm glad to hear that and I think the money jar is also a great idea. I have one, but I haven't made plans yet for what it is for.

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  5. You have a great plan going. Laverne is looking really good!

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  6. Isn't it great paying yourself back?

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  7. I absolutely love all the renovations you have done to Laverne and you are so wise to be paying yourself. :)

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    1. Thank you Debbie. I think I am worth it! ;)

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