Over the past few days Michele and I have worked very hard to find the best path out of our present financial situation. We developed a three-part plan. First get rid of the Audi TT and its damnable lease. As an option we were willing to trade the Lexus too. Second refinance the house and pool, reducing that monthly expense. Third, get a loan to pay off our taxes.
The first two reduce our monthly obligations considerably, while the third restructures the debt to make it manageable.
As of 5:30 today we will have accomplished step 1. We are trading our 2000 Lexus ES 300 and 2001 Audi TT in for a used 2001 Lexus LS 430; thus reducing our monthly car payment by over 24%. We’ll also see and annual savings in our car insurance payments that approaches 50%.
Tomorrow we are off to the mortgage company to refinance the house.