Here are my options with the about $500 a month I have to play with:
- devote all spare $ to save for my yearly van plates (insurance) which will be due in August. I will need about $800 so that would take March's money and most of April's. Pros: I am currently paying on a monthly basis about $70 so it would free up that money each month as of end of August. Cons: It would delay other targets until May.
- Put the $500 a month towards a target of $3000 towards a new vehicle downpayment for early 2010
- Put the $500 a month towards a lump sum payment on my personal loan to get rid of it sooner.
- Divide my spare $ each month to cover both the new vehicle down payment AND lump sum
- other
Until this morning I was leaning towards the dividing one but the vehicle plates flittered into my brain this morning and I will have to mull that over.
3 comments:
I vote for dividing it. Or putting it on you personal loan depending on what's your interest. if it's a high interest rate, it might be better to pay it down especially since putting it in a savings account now won't really help earn much interest.
on a side note, I keep forgetting to ask... But you mind if I add you to my blogroll? :)
I don't mind at all :-)
Thanks
good for you thinking ahead! Have you thought about if you will continue with your 'jar system'?
Happy last week in March :)
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