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One year
As of today, I have officially paid off one year extra on my loan. It was a 60 month loan and I knocked an extra 12 months off that bad boy.
What does this mean?
- It means I have busted my hiney off to pay extra money each month.
- It means I will pay less interest as I have reduced the principal.
- It means that instead of being done this loan after DS1 is done his first year of University in June of 2014, I will be done at the very least, by June of 2013.
I am excited to keep hacking away at this. The sooner I get this loan paid off, the sooner I can add more to my savings for their education, my retirement, and other savings.
I can't wait.
17 comments:
Awesome news, great job.
You sound excited and so you should, that is an awesome amount to have paid off already, and more results to come I,m sure.....
YOU GO GIRL!!! I am thoroughly impressed by you!
WOW !!! Well done!!! Your an inspiration to the rest of us!!
Awesome! Good for you!
That's terrific!! Congrats!
That is cool. Taking a whole year off of payments is a HUGE deal!! Congrats!
We knocked a year off of our car loan by refinancing to a lower rate and a smaller timeframe. I'm trying to knock it down even further, though, and am hoping to pay it off at the end of the year!
Maky's Mom - that is an excellent question and I have asked myself that many a time. With my former vehicle I was spending between $500 and $1000 a year in repairs, so a different vehicle was needed.
I am past the minivan phase, but before a small car phase so an SUV fits my needs for passengers and travel.
My SUV is getting almost as good of gas mileage as my minivan did and that was a big relief to me.
Could I have found an SUV that was 'new to me' and less expensive? most likely.
It's been really nice knowing I have warranty. We bought DS1 a 2006 'new to him' vehicle and it's been in the shop four times since July
Right now, yes I am happy I have a vehicle that is good on gas, good on all our snow and icy roads and enough room to put DS1s hockey equipment or DS2s scouting equipment.
I am mindful that it is an expensive vehicle and I am working to minimize the interest I would have paid over 60 months.
Great job! And what a great motivator to keep going!
awesome jolie! That is amazing!!!
Woot!!! Congrat's!! That's soo awesome! :)
Wow a whole year, that's so awesome!! Good for you!
that is awesome. good for you!
Brilliant! A whole year. You're doing an amazing job :)
Woo hoo Jolie! Spank that bad boy!! and show him who's boss!
And I'll bet you do it again this year!!
That must feel great. Congrats!!
I bought a new car in July using my LOC, which is at Prime. I am putting every paycheque from my part time job toward paying it off.
That is great! Good job chickie!
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