*Gasp* Does This Mean We Are On the Same Page?

As most of you know, I am a Dave Ramsey follower.  So far this year, we have paid off approximately $15,000 in debts.  In our household, I take care of the finances.  Todd is aware that we are paying down debts rapidly, and he knows how tight our money is this month because we are trying to live off of his income alone (to get closer to his vehicle’s payoff!)  I have mentioned several times before that I do not want to take out another loan for the rest of my life.

I received a text from Todd while we were both at work last week, and he says, “We should start saving $500 a month so that we will have enough money in a fund to pay for our next vehicles in the next 5 years.”  I about fell over.  Does this mean we are on the same page with our goals of not taking out a loan ever again?!?  It sure does. I let him know that this is the plan, but only when our debts are paid off and after we have a fully funded emergency fund.   The dollar amount he wants to save per month is a bit steep to me.  However, he explained later that in 5 years or so, Bianca  will have over 225,000 miles on her, and his car will have over 150,000 miles.  He assumes that we may need new vehicles around the same time.

Todd bought his vehicle at a very nice discount from purchasing it from someone who bought it at auction (it was repossessed.)  It was like brand new with only 350 miles on it when he bought it.  He saved over $4,000 by buying it “used.”  It was approximately $12,500.  I bought Bianca brand-spanking new.  I know that Dave Ramsey says that one should not buy a new car unless they are a millionaire, and I may consider that with my next purchase – but no promises are being made.  Our two cars cost us approximately $23,500 total.  I was thinking maybe putting $250/month in an account for the 5 years which would give us $15,000 as a car fund (not including interest.)  I would really like to see Todd’s car hit 200,000+ miles.  Even if that means he gets a new(er) car and I drive his for a few years until it becomes too expensive to repair.

In the past, Todd has purchased new vehicles every couple of years.  He cannot name all of the vehicles he’s had in his entire life.  The main reason is because he was buying beaters and did his own work on them until they got too expensive to maintain.  I bet my car is the longest he’s ever seen the same vehicle in his garage.  But I think he’s come a long way to thinking out 5+ years in advance for his next purchase.  We are making progress!