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Braces, Part II

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Do you remember my braces post….Braces or a Car.  Well, it’s time for the decision.  Went to a follow up appointment for Princess yesterday and she’s ready for braces.  So at the end of August Sea Cadet and Princess will begin the 2 years of orthodontist treatment subscribed by the most recommended orthodontist I could find…to the tune of $5,800 and $5,300 respectively.  Yikes!

If you will recall, this will be Sea Cadet’s second time in braces…poor kid.  But it really is necessary.  I did make the decision go ahead and get his wisdom teeth out first, which is fully covered by insurance.  So we’ll be doing that the first week of August and then they will both begin braces at the end of August.

I’m thankful that the orthodontist offers a interest/fee free payment plan (although with those numbers, I bet there is a fee somewhere.)  So beginning in September I will have a approximately $500 per month ortho payment. New car anyone?

I say approx at this point as I won’t get exact number until August 31st and they will give us a 5% family discount on the most expensive child.  But I’m using $500 as my budget base to be safe and thinking it will be closer to $460 per month.

Kids are expensive!  (But yes, oh so worth it!)

The Next Step, Part II

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This is a follow up post to The Next Step. There was an over-whelming consensus that this should be my next debt tackled even though people didn’t agree on how.  So here is my plan…

Because I have eliminated all other consumer debt other than this car loan…I have two lines of credit open with no balance.  I called and asked if the introductory offer still stood that I used last December…any transferred balance 0% interest for 6 months.  Wonderful news…it does!

So I have transferred the balance of HIS car loan to my line of credit, effectively paying off the car and I should receive a clear title.  Yeah!

That gives me a balance of just at $3,000 at 0% for 6 months…$500 per month to pay it off with no new interest.  Seems like a good deal to me.  He will continue paying $246 per month to me until the balance is paid, but I will have cleared it off my credit by early 2016.

(We have also dealt with his moving the car out of state…after research done with the state’s DMV in question and insurance company.  All above board when that move actually happens which I have no ETA on that from him, but I’m prepared for when it does.)