Overtime check - goes so fast.
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| Fri, 01-23-2009 - 12:28pm |
My DH ROCKED last month with the overtime. He expected to get about $1900 but after taxes he cleared about $1550. Sounds like a ton of money right? Welp, I thought so too.
Breaks down to not paying the $1,000 on the c/c I had planned. Since this check is our mortgage check and that always puts us tight and I have extra bills to pay (car, phone, cable, water...) I need about $500 of that OT for bills. I want to use $600 of it to pay our car insurance for 6 months. I CAN pay this monthly but if I pay it outright that leaves us with less monthly billing. Plus, if we pay it monthly they tack on a service fee of $3 per month. If I pay it outright that means the bill is paid in full and I can pay it outright.
Ok, so that leaves $450 left. I will put that towards the c/c. I am just so frustrated. Before the check came I had all these grand plans to put $1,000 on the c/c and that's just not gonna happen now. Paying $450 will put the balance down to under $7K so I guess that is good.

Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -
Jennifer
Jennifer
Have you crunched the numbers to see how much interest you'll pay on the $600 on the credit card vs. the $18 you'd pay in service charges for paying the insurance month to month? I would do whichever saves you the most money. It's probably negligible difference so if you really would be more motivated by hitting the cc with the payment, I might be inclined to do that instead.
Peg