Originally posted by junkmail
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And your car should be about a MAX value of around $10k. Giving you the same terms on your current car, you're looking at around $195/month to car payments. So let's say $200/month.
That's where you should be.
So if I compare where you are to where you should be here's what I come up with:
1,100 - 800 = $300/month
420 - 200 = 220/month
$520 extra dollars each month going to too much house and too much car.
How much faster would you be able to get out of debt with an extra $520/month? (aka $6,240/year)
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