Our retirement loan is gone!!!!!! YIPPEE!!! We shaved one full year off of the loan and it is paid in full!!
We made a bulk payment of $345 that posted too late to change the debit amount from G-man's check. So they took out the "full" payment of $105. So in reality, the loan has an over payment of about $15 (it is $14.XX because of interest, so not entirely sure of the exact amount yet). We spoke to the representative who said that the overpayment will be refunded to us by check.
Not a big deal. We will get it back, and it isn't a massive overpayment that will make a difference one way or another.
We are going to feel like we are rich....since both the retirement loan and the car loan have been coming out since November, things have been tight. Now we will have $210 more in our check (minus taxes), which was designed to cover the cost of the car. I can already feel a small shift for the positive!!!
In late March we will take out another loan to wipe out the CC debt (at 1.5%!!!). The new debate is if we should take out an extra $1000 to get a new mattress. It is a difference of $10 a month. It isn't about the money per se. For me it is about the principle. We have a few months to decide.
But look at that.....a plan actually WORKED. We put $115 per paycheck aside to accelerate the repayment of the retirement loan, and it is now gone!! One more paycheck worth will go into our savings, and then we will resume saving for Camp. We are totally on track!