We have decided to postpone the big move. I know, I know... I am not happy about it either. But the thing that I am even less happy about is that over the last 28 months we have paid a little over $10k toward our car loan... but only knocked a little more than $3k off of the principal. How depressing is that?
We knew that it was bad, but we had never taken the time to figure out how bad. After 10 seconds of calculating we realized that we have to pay this thing off. *Blissfully paying our payment every month has gotten us nowhere.
So there we are. We have changed our 'moving fund' goal back to the $2k needed for a local move. I will suffer through as many more winters as I have to in order to get Chase Bank out of our lives. I hope Dave Ramsey is happy.
*As blissfully as you can pay a $371 car payment + $15 'check over the phone' fee every.single.month
3 comments:
I found this neat tool that calculates how long it will take to pay off your debt with the debt snow ball at your current pay off rate!
Check it out:
http://www.whatsthecost.com/snowball.aspx
Take care friend!
Why the $15 fee? Can't you write a regular check to them?
Thanks for the calculator, Anne!
Christine - You would think that I could write a check, huh? Chase has a problem with crediting the payments in a timely fashion, though. Remarkably, they are usually credited just after the grace period.
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