Thursday, January 30, 2014

I need some advice

I'm going to ask a question, if anyone is reading this and would like to throw their 2 cents I would appreciate it, but understand that I still make the final decision. I loved January because it was a 5 week pay month, so I get to get ahead on my bills.  I got paid today for the last time in January and I paid everything I had for January and it seems that I have an extra 200 dollars.  I have 3 options and spending it on myself is not one of them. 

1.) I can put it all to my little Student loan which is where I originally said I wanted to focus.  Mind you I have paid so much extra on this there is no longer a minimum payment and the interest rate is 3.75%, but it won't pay it off completely so I don't feel as I will get as much satisfaction from it.

2.) I can pay almost completely the Doctor bill I have I owe them 325.98 and I could give them almost $300 and then pay off the rest next month and snowball the 40 dollars a month I was going to give them to something else.  Mind you this is a doctor bill that I made an agreement with to pay $40 a month and has no interest at all.

3.) I can pay $250 to the tires/battery and only owe 130.  This is an emergency account my husband and I set up for things like this, we still have a descent amount of money in it, but I borrowed from it and I'm going to pay it back.  This has no interest, my husband said I can take a year if need be to pay it back, and we have a good amount in there so if another emergency comes up we won't struggle.  I am giving this $20 a month so I will still be stuck with it for awhile even if I give that the money.

I'm really considering option 1 or 2, and I think I am leaning towards option 2 only cause I would love to free up that money $40 which can be put towards my student loan or tire/battery. I think I already made my decision but I would love to hear other opinions on this. Anyone???? Until next time.......

1 comment:

LBC Teacher said...

I'd throw it at your student loan. It's a big dent in what you have left, and it seems more satisfying to get that paid off, especially since it has interest and the doctor's bill doesn't. BUT, if you can put the $40/month toward your loan anyway, I guess it's not too different.