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Discount on a Smile

August 6th, 2009 at 06:19 pm

I called the orthodontist today to inquire about a discount for paying in full. They have one. It's 5% on the balance after the insurance makes their payment.

In our case, we would get 5% off $3,781. That's $189.05.

I can't decide what to do. I really wanted to focus on the home equity loan. It has an interest rate of 7.25%. My goal of finishing this by the end of the year is stressing me out. My plan puts us on a very tight budget, especially when I put payments to the orthodontist in the mix.

I can afford to pay the regular payments to the home equity loan and orthodontist with no problem. For that I am extremely grateful. It's when I start making a plan for paying them off early, even by the end of the year that I start getting very anxious.

I need to come up with a plan that will make me less anxious, but still bring progress to our goals.

Posted in Spending, Saving, Family, Home Equity Payoff, | 1 Comments »

1 Responses to “Discount on a Smile”

  1. frugaltexan75 Says:
    August 7th, 2009 at 03:33 am 1249612421
    1249612421

    How much interest would you save by using the $3k for paying off the equity loan early? In other words, if you put the $3k to the dentist and got the $189 discount, would that be more or less than the interest charged on the loan?

    Whichever would end up saving you more, is the one I'd go with, personally.

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