by Hope
Woot, woot! Our 6 month car insurance premium drops right at $1,500 next month! I attribute this to:
- Improved credit scores for all of us but especially me since I’ve been paying off and closing credit accounts.
- The 1st of Gymnast’s three wrecks will drop off at the end of this year. When he was shopping for his own insurance, they told him that this was a big factor in his premium.
- Beauty coming off the family plan this past month when she got her own car.
Beginning in October, our monthly premium will go from $1,200-1,300 per month to $930 per month.
We are definitely going in the right direction!
Sidenote: Gymnast Car
Gymnast took over paying for his car at the end of 2023. And has done an amazing job. We were able to refinance the loan this past week to get his name on the title and loan so he now gets credit for his payments. And most importantly, we were able to get a much lower interest rate for him. Score!
Making Moves and Making Decisions
Things are going so, so well right now. I am steam rolling through debt payoff. 100% focused. And it feels so good.
I’ve begun making other decisions as well. Future plans. And making those is not only helping to keep me motivated, but also giving me a reason to keep focused on NOT spending. I spent a night with Princess this past week. (More on the why for that later.) She and I spoke a lot about my decisions, the intended and unintended consequences of those decisions, and lessons that I wish I had learned at her ago.
I will say, that if my bad decisions end up with my kids being so much more wise than me with money. So worth it! I am so amazed at their brains, and focus, and just all of it. And I love that we talk about it all. And they listen, and I listen.
Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.
Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.
Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.
This is huge! Wow! Cheers to your son for navigating the re-finance and lowering his costs also.
Yes, it definitely worked out great!
So you are looking at $930 a month for two drivers and two cars? (Gymnast should be required to have his own policy as the car is now in his name and he has permanently moved out of your home, correct?) That still seems insanely high.
No, 3 drivers, 3 cars. Gymnast car is still in my name as is the financing although we did get him added to both with this re-finance. Legally the car must remain titled in Georgia until I can come off the title. (That is straight from the DMV in Georgia.) Gymnast does pay his own car payment and insurance.
I just got hit with an insurance renewal of $2900 (annually), for ME! No accidents, car almost 10 years old, just ridiculous. I hope yours continue to decrease.