How I’m paying my car off early

Here is my third post concerning my car, and how I handle the finances of it! But today we will talk about how and why I am paying my car off early.

Having a new car can feel rewarding in many ways- such as knowing you can afford it in today’s economy. But what’s even better is having a paid off car! Or you could want to trade your car in for something else, without having to owe more than if you had a paid off car to trade in. Whatever the reason is, it can be beneficial to pay a car off early (if possible and desired).

On my car note, I was scheduled to pay it off by April 28, 2028, but now I am scheduled to pay it off by November 28, 2026! I do wish to get my financial situation in order so that I can continue to pay extra in order to pay it off even sooner. But it is crazy to think that I have had this car for 1 year and can have it paid off in 3 or less years!

So how did I do it? I had minimal expenses ( only personal bills including personal groceries) and worked 2 jobs. While working a lot can be detrimental to health, it can also be rewarding at times. During this time I had enough extra money to pay 3x my car note monthly while paying for a few extras (such as new glasses)! My current monthly payment is $288 and some change, and I was easily spending $600+ on my car payment when I had the extra money.

XOXO,

K<3

#Lemon8partner #personalfinance #car #budget #debt