Yesterday was payday and I did find some money to put on the truck loan. I sent in $593.81 to be applied to the principal balance.
Our new loan balance is $1,439.34.
We are under $1500. So, so close!
This loan WILL be paid off by the end of the month. Right now I'm just contemplating when that will be. It just has to feel right, I guess. The most likely scenario is to make another payment on March 15 (next payday), make a regular payment on March 17, and then take the final amount from savings to have it paid off just after that.
However, my other thought is....just pay it off now! I can then apply the same money mentioned above to savings to pay ourselves back. In the meantime, I save us some interest (a whopping $4).
So for fun, I'll take a poll. Pay off now, or pay off later in March? Let me know.
A Poll: Now or Later
March 2nd, 2013 at 04:39 pm
March 2nd, 2013 at 04:42 pm 1362242558
March 2nd, 2013 at 04:56 pm 1362243375
March 2nd, 2013 at 05:01 pm 1362243685
March 2nd, 2013 at 05:02 pm 1362243762
March 2nd, 2013 at 05:04 pm 1362243845
March 2nd, 2013 at 05:14 pm 1362244462
March 2nd, 2013 at 05:24 pm 1362245092
March 2nd, 2013 at 06:48 pm 1362250119
March 2nd, 2013 at 07:29 pm 1362252563
March 2nd, 2013 at 08:31 pm 1362256300
March 2nd, 2013 at 11:50 pm 1362268221
March 3rd, 2013 at 12:38 am 1362271109
I'd wait. You had a plan. There is no reason not to stick to your plan, as it has worked so far. You could have paid it off with savings before now, yet you did not.
Why have a plan if you're just going to get impatient and change the plan without a good reason? Isn't that what got you in debt in the first place: getting impatient?
March 3rd, 2013 at 12:41 am 1362271309
March 3rd, 2013 at 12:44 am 1362271445
The truck loan could be considered impatience. We saved half of it in cash before we purchased, and we only had one car when DH returned from deployment, thus it was a need. Although I will admit we could have bought a less expensive vehicle with the cash, rather than the one we wanted. We expect our vehicles to last a very, very long time at this point.
March 5th, 2013 at 03:15 am 1362453316
March 5th, 2013 at 03:17 am 1362453447
March 6th, 2013 at 02:56 am 1362538575