My Debt Blog

I’m not having a very good July even though it’s only been a week. We can’t pay down debt and on top of that it has gone up because the student loans are growing. My wife got in a car accident, she’s okay but the repairs to the car will clear our EF. I am financially and emotionally drained right now and not sure when I’m going to bounce back.

So where do we go from here? I looked at her student loan statements the other day, she refuses to even bother with them, and the payments make me feel defeated. They can go into a forbearance or possibly economic hardship but we still need to find a way to pay them at some point. I guess for now I will put that issue aside since we have so many other fish to fry.

I know I don’t mention it too much but I still contribute to my 401k plan. I’m down probably 1.5k which is a huge chunk of money. At the same time while it’s down at the moment it will eventually go back up. It is still depressing to see the numbers go down so far and quickly, but that is the risk of the market. I’ve also debated the idea of stopping my contribution in order to increase cash flow to pay down debt.

Our vacation is planned here in the coming weeks and I doubt we can afford to go. My parents are picking up the bulk of our cost but the $600 intended to cover our expense may not cut it. With no EF to fall back on I hope the damage to the credit card will be minimal if we have to resort to it at all. If my parents were not involved in paying for this trip, it would be canceled.

Sorry I haven’t posted as frequently lately but I’m trying to keep the funk to a minimum. I’ll come up with a strategy at some point but right now I’m tired. The stress of the situation could very well be leading to depression. It makes me wonder how much more crap I have to do before things will get better.

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I’ve put this off for quite some time but I was looking at the tread on the front tires of my car the other day. The tread wear is very low, probably 2/32 even though I don’t have an official gauge to verify that. While I’m still able to drive the car just fine, it still makes me nervous that the front tires really need to be replaced. I decided to look up what some tires would cost me to replace them.

The tires themselves run $91 a pop, just the tire. This place also has to add on fees to protect the environment, disposal, and installation of the tire itself. There’s an optional coverage or warranty that if something happens to the tire like a hole or sidewall damage, they will replace it. I have bought a tire from this store before, a month later hit a piece of scrap metal that was lodged in the tire causing a slow leak, and they replaced the damaged tire with a brand new one.

When all is said and done it will cost me $263.66 to replace the two front tires. I may have to resort to the EF to handle this expense and then balance it out next month. If I don’t replace these soon my concern is having a blowout or losing control when it rains, which would cost me much more later. I think I need to figure out some sort of way to account for car maintenance and repairs since the vehicles are starting to get older, and it takes more than gas and oil to keep them going.

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Buying a new car or even a new used vehicle is at some point necessary, as long as you can afford it. Instead of dumping your current ride for something different, regular maintenance can provide a much longer life for the car. The seasons are changing and for those of us in cooler climate are feeling a transition from bitter freezing to hot. Here are 10 things you can keep in mind when it comes to your car:

1. Oil Change Most cars today have a sensor in them that does help remind us when to have the oil changed. Best rule of thumb is every 3-5k miles or 3 months. Keep in mind that the oil doesn’t get old, it gets dirty which will cause a problem if you keep putting it off.
2. Air Filter Most people who at least have the first maintenance tip down, but what about helping the car breathe easier? The air filter sits in front of the engines air intake and prevents dirt and particles from getting in the engine. If it gets clogged it can reduce the air flow which hurts the engine and fuel economy.
3. Other fluids The cooling system also needs to have the proper amount of coolant and the hoses should be inspected for wear and fit. Making sure the car stays cool will keep the engine from melting.
4. Under Pressure Those tires that the car sits on have air in them, but the pressure they contain is very important. Many people neglect to check or pay attention to make sure they’re properly inflated. Low pressure isn’t good for the car, tires, fuel economy, or your personal safety if there’s a blowout. If you have never done this in your life, go buy a tire pressure gauge and then a gas station where it says “AIR”, it costs very little to do this for your car.
5. Lights Out It is a fact that light bulbs eventually will burn out. Take a moment to check that all your lights are in working order. Ask a friend to help you check your break lights, reverse, and turn signals and in exchange do the same for them. The cost to replace a burned out bulb is much cheaper than a ticket from a cop. Check the owner’s manual for the bulb and how to go about replacing them.
6. Regular Maintenance Some problems might be beyond the average driver’s ability. Find an automotive shop that can do an inspection on your car based on your maintenance schedule in your owner’s manual. I personally trust the smaller self owned shops rather than large retail chains, they are honest with you because they need your business and want you to come back.
7. Look and Listen Take time to pop the hood and look at the engine of your car. If something looks like it is out of place or a fluid looks low, do something about it. If you are driving and hear some ambient noise coming from the car, find the source of it or have it checked out. A small problem can turn into a larger expensive one sooner than later.
8. Cleaning It is important to wash and wax the exterior of the vehicle on a regular basis for vanity and longevity of the value. An overlooked area is the interior. Keep the inside clean by vacuuming the carpet on a regular basis and find the source of a smell rather than hiding it. Spills in a car need to be cleaned up immediately otherwise they can stain and become difficult to remove. Car air fresheners create an illusion of a clean car.
9. Drive Better With gas prices being the way they are, the way you drive does have an effect on the life of your car. Accelerating quickly and coming to a hard stop is really bad on a car, reduce fuel economy, the engine, tires, and breaks. Come to a stop by sneaking up on it to minimize the wear on your tires and breaks.
10. Park Smart Keeping the car out of direct sunlight, bird droppings, or tree sap will help the exterior stay nice. Also keep in mind of the vehicles around you to avoid things like dings and dents in your car.

The maintenance of your car makes it last longer and avoid having to pay for another car. If the car stays clean and working it makes it nicer to drive and want to take care of it. The condition of a car is directly related to the value of the vehicle. Keeping everything in presentable working condition will maximize the value of the car if you do choose to sell it some day. It is also a fact that a car drives better when you don’t have to make payments on it.

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