:::: MENU ::::

Posts tagged with: car loans are killing me

Debt Update – September, 2014 – Hope

by

Well, it’s been a while since I did a debt update.  And while I haven’t made a bunch of progress there have been some tiny steps…so here’s where I’m at as of today.

Debt NameCurrent BalanceInterest RateMin. Mo. PymtPriority OrderEst. Payoff
Checking Account$7410%$01Nov, 2014
Credit Card - Retail$3,22325.99%$992Jul, 2015
Credit Card - Consumer$504313.90%$1053Jan, 2016
Student Loan$32,5102.875%$04Sept, 2019
Car Loan - Accord$1,9000%$05Nov, 2019
Car Loan - NV$29,4046.79%$6966Oct, 2018

Some notes:

  • Student loans are in deferment and I’m hoping to get approval to continue that for another 6 months to get me on solid ground with everything else.
  • Currently I try to pay about $400 more than the minimum towards debt.
  • The Car Loan – Honda will be taken care of with the sale of my house.  My dad and I have agreed that he deduct that amount in full from any monies I have coming from the house, but until that is a done deal I will leave it on my list.
  • The Car Loan – NV will go away as soon as the car sales.  While is has certainly been a blessing to have with this move, I am ready to be out from under that hefty monthly obligation!!! (If it were to be gone in the next month, that would move my final payoff date to July, 2017, how cool would that be!)

These notes are all based on my current budget, but with moving into a smaller, less expensive space I hope to free up some more monies to throw at debt.  I just haven’t had time to sit down and look at a new budget yet.  It’s going to have to wait until after the move.