Is this a stupid idea?

This too shall pass.

Tough it out. Keep the truck.

 

Trust me, I'm stubborn and will always end up doing what I want, just like hearing from non-biased sources to poll opinions before making the final decision.

Only problem with getting rid of cable is it would also get rid of our phone and internet, we have a bundled package for $96 month and getting rid of 1 would actually increase the cost. Not having internet and/or a phone is not an option, things are tight but not THAT tight, at least not yet.

It's looking more and more like a 2nd job is going to be the only real option.

 

By an Amazon firestick(~$30) put Kodi on it and then cancel cable. That'll save you from paying for cable at least and you'll have a little extra money for necessities

 

Things are tight enough to sell your truck, but not cancel your cable/internet/phone?

 

If his wife is looking for a new job, phone and internet are damn near mandatory.

Good luck, OP. I went through a lay off a few years ago. Turned out to be the best thing that could have happened.

 

Ahh, a Mass State Employee?? I used to be there before I moved to NH.. When I quoted @Bebop, I was also thinking of lengthening the payback time... This could help temporarily.

Do you have any opportunities for overtime? A part time job? I don't want to make you feel bad but these types of things are temporary and I really do believe your Tacoma will last a very long time (if properly maintained) thus saving you tons of money going from one vehicle to another. ESPECIALLY if you are financing these vehicles....

 

You’re telling me you don’t have a phone? Also a large part of my wife’s job is done through email and phone, so they are not optional. If we drop cable we’d actually end up paying about $20 more each month for 5he phone and internet .

 

Our big thing that kills our money fast is eating out.

 

Of course I do. I'm not selling my truck though.

It's obviously a different story if you NEED your phone for work.

 

That seems to be the "thing" these days. My son and his wife are 33 and they never eat at home, sh!t I don't think she even knows how to cook or boil water.

I personally wouldn't even consider marriage to a woman that doesn't cook. It may have something to do with my age (62).

 

Assuming you calculated your itemized monthly costs, if you aren't negative with the truck, I'd try to keep it. Work towards paying off the smallest debts first. Once its paid off, use that minimum towards the next smaller debt. Continue the cycle till your are either out of debt or in a better spot. There are other places you can cut costs as well. Power, natural gas, food, fuel. Prioritize use of the car (run 5 errands at once vs one at a time). Wait an extra day or two before doing laundry. Only open the fridge if you know what you are grabbing. Lower/raise thermostat. Only use lights if you NEED to see. Conserve water during showers/cleaning/brushing teeth/etc. Lower water heater temp. LOTS of ways to cut expenses.

My largest variable expense is food. If i'm not careful, i can spend over $30 a day on two meals for myself versus cooking a budget meal. Rice, chicken thighs/breast, chuck steak, pasta, lettuce all cost next to nothing. Three cups of white rice is maybe $0.50 and can provide 5-6 servings. Hell, when times were tough, I made the excuse of "i'm going on a diet" and went with meal replacement shakes at about $1/shake/meal. Even a basic tuna sandwich on cheap white bread costs $0.40? Add a giant bag of chips to the mix and your meal bumps up to $0.75 per serving. Drink water only and cut out Starbucks/energy drinks/soda/juice. On my "diet" month, i spent a total of about $60 on "food". It sucked but I realistically saved about $400 for myself. And i dropped about 10lbs. hahaha

Obviously a new and/or second job will help a ton.

Best of luck.


Last night I ate half a bag of trader joes fried rice (shoulda been 1/3 haha) and a chicken thigh. $1.15 in rice and $0.40 in chicken. I usually eat out and spend $15-20.

 

Check this out. Helped us out when money was tight. Not a gimick, or shady money tricks. Just common sense and self discipline.

https://www.daveramsey.com/specials...MIvv_I49r01QIVybjACh2zYgDYEAAYASAAEgIVwvD_BwE

 

I absolutely agree with trying to follow a program like Dave Ramsey. My husband and I try to do the same. We are debt free.
When we purchase a home in the next year, we hope to have the mortgage gone within 10 years. It's nice to feel like you have that much freedom and control over your life because life... is unpredictable. You never know what's going to happen.

That being said, I would try to keep the Tacoma. It's a truck you likely have had since new or close to it. You've been the primary owner so it's likely to be much more reliable and therefore inexpensive compared to another Tacoma you might find. You may sell yours, get something $6,000 cheaper, but then you have some Maintenance expenses you didn't expect bringing that number closer to $4,000 (you seriously don't know how bad some people treat their cars lol).

I think it's a lot of time and pain in the ass, as well as risk to be trading out cars to save a couple thousand. I think in the grand scheme of things it's not a lot of money. But it really depends on how tight money is and for how long it might be tight.

I would be cutting off TV, internet, etc. (it's not that important) literally everything that wasn't a serious need. I'd probably go to my cell phone company and see what I could do to lower my bill. Get rid of $230 worth of stuff or more.

Please don't borrow any money from a retirement account. You'll nail yourself with taxes and possible penalties which is just one more added stress on you.

 

I think they are assuming you are talking about a land line, not a cell phone.

 

You and your wife start delivering pizzas. Easy money. No experience needed. Can do it the hours you are not working and weekends. Get's some extra money coming in with both of you putting in a little effort. If you haven't already get on a budget. Write it down and see where your money is coming from and where it's going. If you haven't already, like others have said, stop eating out. Lots of money can be saved eating at home. My 2 cents.

 

This was another thing I thought about. Getting other jobs for a short period of time to help pay down the loans on the cars and make them disappear.

 

Quit thinking about it, and get to doing it. Today.

 

Not the OP lol Just a thought I was going to recommend to him.

I worked 3 jobs to pay for my Taco. Can be done! and totally worth it.

 

You mean your not going to go get a part-time job? lol

 

Wondering what type of 'state job' the OP has. He started the thread at 10am on a Friday morning and responded intermittently all day. Not to sound like a jerk but I would think there's something else he could have been doing with his time.

There's been a lot of great advice on this thread...work harder, eat at home, cut needless expenses etc. An extra $200 per month is nothing, get an extra minimum wage job just 8 hours a week and there you go.

Hell, my 17 yr old son started his own grass cutting business this summer, has 10 yards, and brings home $400/week cash, plus he's his own boss and his customers love him. He works out of the back of my old Hyundai Sonata...

Point is, there's tons of ways to make/save money by good old-fashioned hustle.