I saw a quote on Instagram this morning about how you don’t pay for things with money, you pay for them with hours of your life. Whoa, what a way to think about purchases.
I’m sitting during my lunch thinking about how many weeks at work of my life my truck purchase was. The answer is way more than I am comfortable with for sure. Then I’m thinking through how many weeks of my life are going to be spent before it’s finally paid off. I love my truck, but I don’t think this is a mistake I will ever repeat. I intend to drive this truck until it falls apart and then my next truck will be paid for in cash and absolutely used.
We are seven years away from our FIRE goal and it just feels like the progress we are making is so slow. The truck feels like a logjam holding back our progress. I’ve been ignoring this debt because of the low interest rate and the fact that we had two important home repairs to make (windows and garage roof), but now that those are done, I WANT IT GONE.
Our current plan is to bank as much cash as we can between now and the end of the year. In the New Year, once we have an idea what we will owe in taxes, we pay it off in full. Worst case scenario, April 2019, no more truck payment.
Then, December 2021, no more house payment.
Then, December 2025, FIRE.
Because I want my hours more than I want more things.