Sunday, July 19, 2009

Post Semester Dilemma

Adam and I can be impulsive. We can also be very analytical and consider all of the odds before doing or purchasing anything. We both grew up in very financially smart families. My circumstance was one where my parents never did anything, saw anything, or bought anything. They are what you call life survivors and not livers. Obviously, there should be a happy medium between the two, right? But no, if I wanted to go/do/buy anything, it came out of my pocket. Our home consisted of thrifted or hand-me-down furniture and we haven't owned a new set of plates or silverware since my parent's wedding. Nothing got done unless it was crucial to the construction of the house, in which, the job was only done until it was sound, not cosmetically correct. Needless to say, we never had nice things or things that defined our taste or personality. I hadn't been out of the country until our honeymoon and west of Pittsburgh since going out to school. And that's OK right? There's nothing at all wrong with that. But it causes me to think, "Hm, we have $50, sure! Let's get that new pillow set! Why not? It's so easy to do and it feels SO good to have something new." You'd you think it'd be the opposite huh? You'd think I'd see the value in frugality and not spoiling oneself on brand new items, but, hey, it's easy to do, right? So I (we) need your opinion: Adam's car is on its way out. There's nothing major-ly wrong with it, it's just little things that keep popping up and emptying our change jar. Also, it looks like a total drugged up teenager car, so we get pulled over ALL THE TIME even when we're going the speed limit. We usually get off, but it's seriously frustrating. What we're trying to decide on right now is whether we should live with this car until graduation (Fall 2010), or fix up the small things, sell it, and buy another, more reliable car that will last us for a bunch of years. We're leaning toward the latter, but the only way we could afford car payments (as we're both full-time students) is to take out more school loans and use our Pell Grants. What do you think? Impulsive? Down right stupid? Irresponsible? Sensible? What would you do? 


Kimberly said...

Talking from the peanut gallary, I would personally say to wait. If the car is doing it's job right now....Becuase trust me those grants and loans will come up faster then you think to bight you in the butt!!! However, if you wait for just a year and save a little, then you can get the car making payments on it with normal interest and really enjoy the car. If you put it into a school loan it will end up costing you so much more in the end, once interest and everything add up! Just a thought!

The Rider Family said...

Okay so Zac and I agree with what Kim says its true the student loans will kick in and if you only have to wait a year and half you can then trade it in and you both will be working and be able to make the payments. I know bummer but in the end it will be worth it! Zac says "Live within your means" love you guys

Lauren said...

We agree with the two above peoples. Avoid taking out student loans for sure. The car we drove around Rexburg was a '80 Ford Pony with a shaggy dashboard. I sometimes feared for my life because the tire sounded like it was going to fall off. We talk about it now and we always laugh. It makes for some good memories. Plus, when you can finally afford the car of your dreams, it makes it ten times worth it! Hope that helps, good luck :)

Jessica said...

How sad about Adam's car...I was there when he bought it.

Your insurance will probably be lower with that car than if you get a nice one. At this point it's probably hardly depreciating, so as long as you aren't going to have to replace a transmission or anything super expensive, I'd say keep it. If you can steer clear of it.

Plus...then you can have a joy ride in your new car after you graduate!