Paid off the car!

Avatar for fire_bug
iVillage Member
Registered: 03-25-2003
Paid off the car!
5
Wed, 02-18-2009 - 12:44pm

It felt good but I'm watching how quickly our tax refund is disappearing and starting to panic. Our car payment was $250 a month, so I already set up an automatic payment to Citibank for when the car payment is usually due. The debt repayment calculator I'm using is saying July 2011 to be debt free except for the mortgage. That's assuming we only pay what we're paying now. I'm optimistic that we'll be able to pay more in a few months because DH is expecting a raise and a small bonus and possibly a promotion. We also have high interest rates, so I'm hoping we'll be able to continue to have them decreased. We've gone from both CCs at 28.99% to one at 13.24% and one at 20.99% Of course, the highest balance is at the highest interest rate.

We're also hoping to sell our house in the next few months and if that happens, we'll be paying everything off. I actually talked to our realtor the other day (I guess she's not officially our realtor since we haven't signed a contract with her yet) and what she's saying we might be able to get for it is more than I expected, so if we're able to get that, we'll be in good shape when we move - assuming we can get another mortgage.


Photobucket





babies




Photobucket
iVillage Member
Registered: 04-10-2003
Wed, 02-18-2009 - 12:47pm
Woohoo!!!! Congrats! What a great feeling! This will definitely help make a chunk in those yucky CC payments! (Congrats getting the interet rates lowered too --> That alone probably cuts time off your repayment schedule!)

Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Wed, 02-18-2009 - 12:55pm
Woo Hoo!!!
iVillage Member
Registered: 10-01-2008
Wed, 02-18-2009 - 2:06pm

Congratulations!

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 11-14-2008
Wed, 02-18-2009 - 2:47pm

That is wonderful news. It must feel great to knock off one of the big bad debts to have more $$ to concentrate on the other CCs. Ahh the power of a snow ball! Does a body good like milk. So get some sleep and relax! You have done well!



iVillage Member
Registered: 08-22-2008
Thu, 02-19-2009 - 9:17am

Great news!