Welcome to Freedom Friday, post numero uno

Hey everybody. So glad you stopped by today. This is the first of my bi-weekly posts where I kind of let you in on how we’re doing with our pursuit of paying off debt. I’m hoping that many of you will also e-mail me with your story (with either Freedom in Progress or Freedom Achieved in the subject line) and I can share you story to encourage others, too.

So here’s where we’re at right now. I think I told you that our car had received its final rites and then actually did expire. But I never told you what we did with it. Our Accountant (I know this seems anti-frugal on the surface but having Timpe & Timpe do our taxes was actually free in the beginning – long story – and now saves us more money than we spend in the long run), encouraged us to donate the car to an organization that refurbishes cars and then sells them for profit to benefit their organization. Many churches have ministries like these and we did find one (more about that later).

Here’s why it’s better than straight up donating it to Goodwill or another non-profit. If you donate a car straight up, the organization takes said vehicle to auction and sells it. You in return, get to deduct whatever they can get out of it. Now this is fine if the car is in working order. But if like our car, repairs are need, you aren’t going to get very much at auction for it (or by simply junking it). Obviously, you’d get much more if it actually ran. So donating a vehicle to an organization that refurbishes cars is a double, nay triple bonus. Not only do people get great vocational skills and a non-profit benefits from the sale but you also get a greater tax deduction. Follow?

Lady Lisa on the Facebook Fanpage encouraged me to check out Good News Ministries in Indianapolis on East Washington Street. The King did so and was duly impressed. They’ve been in the community since the 1950s and basically have taken over almost an entire block of Indianapolis with a Family Shelter, A Youth Center, a Health Clinic, and a Mission for Men. They provide vocational training, tutoring, housing, food, and more. They run a camp for teenage boys during the summer who might not get a chance to venture far from their block. These people are bringing light to places that might otherwise seem dark. They came and towed our vehicle away and were very gracious. We’re excited to hear from them when they do the repairs and are able to sell our old family “friend.”

So we’re still functioning on our car and a truck borrowed from my folks and chipping away at the two debts we have left. It’s a bit of a sacrifice as the truck isn’t that great on snow and the carseat doesn’t seem to fit into it quite right. But I know it’s for a greater cause. Each time I make a payment on Mr. Target Visa and I see him lose more and more weight, it gives me hope. And that, Money Saving Lords and Ladies is priceless.

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