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Another Principal Payment

December 13th, 2012 at 12:22 pm

Frugal in Texas was right I did decide to put the money we received from USAA yesterday towards the truck loan. I added the $48.78 to the planned $61.35 extra principal payment for a total payment of $110.13.

For those who haven't been following, the $61.35 is the amount I expect our payroll tax to increase as of January 1 when the payroll tax holiday is expected to expire. I figured if we aren't going to have it in January then it really isn't money we should have available to spend until then. Thus it goes to the truck loan payoff!

Our new truck loan balance is $5,578.51!! Look for another update next week when our regular payment of $329.13 is processed.

I do hope that I can get this loan down under $5K by the end of the year. I think it is possible. I just need the Christmas spending to stop so I can see how much extra I have in the cash account. This sure will far exceed our goal of being under $8K by the end of 2012. Feels good!!

4 Responses to “Another Principal Payment”

  1. PNW Mom Says:

    If anyone can do it....you can! Smile

  2. SecretarySaving Says:

    High Five!

  3. Beawealthywarrior Says:

    I'm going to put mine towards my mortgage as well. Good job with the loan!

  4. FrugalTexan75 Says:

    Smile

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