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 creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 3 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.
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.