As I have stated previously, the goal for this month was to get the home equity loan under $7,000.
We did it!!
I made our regular payment of $118.01, with $75.27 going to the principal balance.
Our new balance is $6,999.00!!
Did you notice how I got the balance to a nice round number? I really had to work on my algebra skills to figure out what principal balance I needed to be at before making this month's regular payment, so that it would turn into this nice round number. It looks like my math was correct.
Again...call me a nerd!!
Often I make the extra principal payments prior to the regular payment, but I realized I was then paying interest on the larger balance, rather than the lower balance that results from making extra payments! Silly me. 
Side note: Balance updates on our home equity loan will be minimal while we use our extra cash to pay for our Disney World vacation this July.
Big Announcement!
April 16th, 2009 at 01:22 pm
April 16th, 2009 at 01:24 pm 1239888298
A big hug to you! YAY! You are my inspiration, once I find something to be inspired about!
April 16th, 2009 at 01:27 pm 1239888478
April 16th, 2009 at 01:55 pm 1239890159
April 16th, 2009 at 02:04 pm 1239890695
April 16th, 2009 at 02:07 pm 1239890869
April 16th, 2009 at 02:39 pm 1239892754
April 17th, 2009 at 12:48 am 1239929286
April 17th, 2009 at 01:36 am 1239932204
April 17th, 2009 at 02:27 am 1239935227
April 17th, 2009 at 03:48 am 1239940135
April 17th, 2009 at 05:04 pm 1239987859