<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > $25 to the challenge

$25 to the challenge

December 6th, 2006 at 04:20 am

Now tthat the year is whining down and I am almost at my goal of no debt, I am adding to the challenge/home account. My goal for 2007 is to buy me a house/condo or anything with four walls that I can call my own. I got my cc down to $336 in which I plan on paying off the end of the month with the last check of the month and I got my student loan down to $946 I may not be able to pay in full but hoping it will be half of this amount. Any how new total for my house is $175.08

Posted in | 3 Comments »

3 Responses to “$25 to the challenge”

  1. Aleta Says:
    December 6th, 2006 at 04:02 pm 1165420963
    1165420963

    Could you use any part of your EF to pay the rest of it off? Once your 3 debts are paid off, the money once used to pay the debts could be paid back to the EF fund. I don't know how much your rate is for the debt or how much you're making with your EF, but even if you're making more interest with your EF, you will also be paying income tax on it as well. It's something to think about. Sure would start your year off nicer.

  2. Amber Says:
    December 7th, 2006 at 12:55 am 1165452947
    1165452947

    You do have a point..thanks maybe I will pay it off. I just don't like to see my EF below $1000

  3. Aleta Says:
    December 7th, 2006 at 05:48 pm 1165513682
    1165513682

    There is a blog about this today and Jeffrey is explaining why it's better to get rid of the debt. You can always have a credit card on hand just for emergencies. That is like having emergency money. The only thing that I do differently is that I keep cash at home to cover things not covered by a credit card. That also makes me feel good because you can't always get to an atm or to the store for that matter. Anyway, think about it. I was just looking at how small your student loan is and the fact is that you could pay it back in a relatively short amount of time. Even doing the $20 challenge around the house looking for change could help you start your cash in the house fund.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]