Tuesday, January 26, 2016

Numbers...part 2

And back to the fun of the numbers!

G-man's car- $1,731.92
In just over 2 years, we knocked out over 2/3 of this loan...and we are excited to say that this loan will be gone by the end of the year....right around the time my car is paid off!  After minimum payments, it leaves about $600 on here.  Since money is direct deposited for this loan...and the other car and house loan...there are 2 "extra" deposits over the year based on 26 paychecks.  That equals $850.  Take $600 from there (and see that $250 that is left....that is more than we need to eliminate the 10th payment on my car...).  And with that.....the car is paid off.

That means by year end....BOTH our car payments will be gone!!!  THAT will be game changing.  That is $360 a month.

The next debate regarding the car....is how long it will last.  This car is a 2001, but low mileage for its age.  It's a Camry, and they tend to last.  We don't plan on replacing it soon but also don't want to wait until it is dead.  Obviously a replacement also means higher taxes, possibly more gas, and unless something magical happens.....a payment.  We would like to avoid those for at least a year after payoff. 

Student Loan - $20,276.69
Gosh this loan just never seems to go away.  It is on the bottom of the repayment pile.  But look at the number....in March it will be below $20k!  Mental game....

I have mentioned before that this loan is actually 2 parts....and the smaller of the two parts is $950.92.  Of the $229 a month we pay.... $10.77 goes to this part (set by the company...not me).  I would love to find the $1000 to just get rid of this part. It won't actually make a difference on a monthly basis and only shortens the loan by a small amount.  Mental game....

January isn't closed out yet for payments....so I will update the CC numbers soon, since I know that those seem to draw the most attention.  G-man doesn't get paid until January 31....so we really need the WHOLE month this month.

Wish me luck on my phone interview later today!


10 comments:

  1. You seem to be doing a great job of finding the calm amid the chaos of a big move. I know you're chomping at the bit to see those car loans go away! Hope the interview goes well!!

    ReplyDelete
  2. I am faking the calm....shhhh, it's a secret. ;)

    If I were more confident, I would take half of my EF and pay off G-man's car, then roll that payment into my car and both would be paid off in about 4 month. But until I am working....I won't do that. We all know I have a problem using my EF...and this certainly isn't an emergency. In reality, it would only take another 4 months after the cars were paid off to replenish what I took. But I am just not there yet!

    ReplyDelete
    Replies
    1. Fake it till you make it, right?! I'll bet you end up paying them off before the end of the year. Once you're working and the balances have fallen even lower, it won't hurt so much to send in a final payment. Either way, you're getting so close!

      Delete
  3. Replies
    1. Eh. The job wasn't exactly as advertised.

      Delete
  4. Good luck, bet you ace the interview.

    ReplyDelete
    Replies
    1. Nope ...don't think I aced it. Moving on...

      Delete
  5. You never know what someone wants. You could have done much better on the interview than you think! And if the job is not the right one, another door will open.

    ReplyDelete