A glimmer of an end in sight...

...ok to be fair the glimmer is really dim and a long way off in the future. Dec 2010 in the future to be precise...but there's a method to my madness.

I've been going over the stats for my personal loan. This is my thrice expanded consolidated loan that was used for a vehicle purchase, a trip and consolidating some CC debt. It is due to mature in March 2011.

My payments are $580 a month. Currently about $515 of the payment goes to the acutal loan and the $65 left goes to interest. That's a long ways from the early days when just a lil over $400 went to the principal.

Based on this $515 a month, this loan, without any extra help, will be paid off by Dec 25th, 2010. Three months ahead of schedule.

Of course now that I've discovered the joy of snowflakes, I can see how this can be sped up.

At the end of July I was running these numbers over and over until I was stressing myself out. I had realllly wanted to have this loan paid off my June 2010 so that I could start the second year of my VehicleLoan making extra payments every month. I drove myself crazy so I backed off.

Knowing that just the payments alone will get me done early inspires me to snowflake more. It's being paid off early so every lil bit that pays it off even earlier, is just gravy IMHO. Sure it would be great to have it done reallly early. We shall see what I can accomplish.

Freeing up almost $600 a month when this is done, will be fantastic! Oh the things I can do.