Budgeting Tips to Get out of Debt and Build Wealth

We’ve recently decided to sell one of our cars.  We just paid it off a few months ago, but we’ve determined that the money tied up in the car (estimated about about $6K) can be better used to pay down debt and to help fund our online sales business.  It’s a little easier to do in the small town we live in, since my commute is about 2 miles each way and rarely do I find myself needing to travel during the work day.  Also, my wife’s day during the week is focused on homeschooling our kids, so we can manage for a time.

So in looking at the car, it became obvious that it will need some work before we can sell it.  First, there is an odd sound coming from the front end– something akin to a scraping sound.  Also, the sunroof needs a new piece so it can open and close without help.  These are things that can be ignored when owning a car, but are not so easy to ignore when selling.  Either we’ll pay now, or pay later on the sale price.  Wanting to get the best price, we are looking into repairing it now.

In order to pay for the repairs, we’re hoping that eBay can help.  It turns out that a side effect of home organization and purging is you find a lot of sellable items.  One item we found is a set of DVDs from a wildly successful internet training program called Stompernet.  Founded in 2006 by some of the most successful online retailers and marketing experts, it’s the cream of the crop and we have their training on DVD.  A second item is a brand new 23 inch LG Monitor.  Our old monitor died just yesterday and was under warranty.  The replacement is brand spanking new.  Given the push to finally take control of these debts, we decided, with some difficultly, to get by with one monitor and put the second one up for auction.

Combined, we’re looking for a couple hundred dollars to be able to fix up the car for sale.  The spiffed up vehicle will be able to retire at least one credit card.  We’ll enjoy the feeling of getting rid of our first card on the way to a debt-free living.

Posted By: Becoming Debt Free - Paying Debts by rocket_scientist