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My plan to be debt free

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    #31
    Awesome news! Keep us posted on your quest to be debt free!

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      #32
      WTG!!!

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        #33
        I am switching gears... My EF is $1500. and my oustanding debt is $10,100:

        Visa
        Balance: $2200
        Limit 2800 --->Reduced from $5000
        Interest: 12.99%
        Available balance: 0
        Monthly interest fees: $31
        Annual Fee: None
        Monthly minimum: $50

        Car loan
        Balance: $7900
        Interest: 5.95%
        Monthly payment 297, out of which 49 is interest, 248 goes to principal
        Monthly interest fees: 49

        I want to pay the Visa because I am so close and the interest is higher.
        But, instead of pre-paying the car, I want to build an stronger EF first.

        I want at least one month of expenses in the bank (currently I need $4000 to cover monthly expenses comfortably)

        When my EF is $4000 I can allocate some money to keep on building EF and some to prepaying the car...

        What do you think?

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          #34
          Personally, after your EF, I get rid of that credit card first.

          Oh, maybe you are working on the credit card, EF and then car. That would be great, too!
          My other blog is Your Organized Friend.

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            #35
            Yes, CC->EF->Car!!!
            I feel great about this!

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              #36
              Originally posted by Radiance View Post
              Yes, CC->EF->Car!!!
              I feel great about this!
              You should feel great because you are doing great! Keep up the good work.
              My other blog is Your Organized Friend.

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                #37
                doing great Radiance....keep up the great focus and keep plugging away!!!

                congrats!!!

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