The cash we were using towards the difference between the car loan and the final price was sent to the retirement loan. Since the retirement loan payment will become the car payment, we decided to try and get rid of this as soon as possible. Right now it will be the beginning of January, but I am going to TRY and kill it by the end of December.
We had to transfer some money from our EF to the new checking account at the credit union for a short period of time. The CU will autodebit the car payment from the checking account, and until the direct deposit starts with the next payperiod, we needed to make sure we had enough in there to cover the Dec 15 payment. Once we have enough in the checking account to cover the car (it will take a few months because we are one pay check off from where it was supposed to be), that money will go right back to the EF.
As I have said previously...the remainder of this year is more about survival and reset than paying down debt. We really need to let the dust settle and see where we are. We have a tentative budget for January, which will have the retirement loan paid off, the new medical FSA reimbursements, and hopefully a small cost of living increase.
On the positive side:
- The student loan is going down now that it is out of deferment.
- Lending Club gets paid at the end of the week, so that will go down as well (which will bring us to 44% paid off).
So there they are.....the new numbers. One other note....I removed the progress bars. They depressed me.