PinchingPennies

Saving money to pay off student loans and consumer debt

My Debt Hit List – The Car Loan

Husband’s car loan is on the chopping block to be paid off. I sent in $1000 from our stimulus check and husband added the amount we were sending to American Express ($100) to the minimum payment as part of our debt snowball.

FTR, we are starting with $8090 to be paid on the car loan. When we get our next statement I expect the balance to dip below $7000. Yesterday I was playing around with debt payment calculators and according to them, paying the minimum plus $100 will take us over 2 years to pay off that sucker. lol Yeah, right. Like I will allow it to take that long. I still have $2000 for the car loan from our tax return and as soon as I see that Capital One credited our account properly for the $1000, I will send that in.

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June 16, 2008 - Posted by | Car Loan, Debt, Debt Snowball | ,

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