Sunday, March 05, 2006

Financial excitement....

When recently reviewing our financial status to update our net worth for the month of March, I noticed something exciting. We're only 4 months/payments away from paying off my car loan! That's $242.47 less to pay, worry about, stress about, and use our precious time on, every month! That's approximately $8 more in our pockets every day, $60 a week, $242 a month, and $2,909.64 a year! Plus roughly $130 in extra interest per year. (Virtual Bank's 4.50% MMK account) It's more exciting than the time I refinanced this loan from a 8.90% interest rate to a nice low 3.99% rate, saving us approximately $680 a year! Oh well, still too soon to celebrate. But it's a nice thought.....

3 comments:

Single Ma said...

Congrats! So what you plan to do with that extra $242?

John said...

Whoa, that question threw me off. I never thought about it. I was too busy being excited about not having to pay it. I guess I plan to save it, and have it pay ME everymonth in interest!

Single Ma said...

I do the same thing too...forget to consider "what's next."

I'm sure the bank paying YOU will be a lot more satisfying. LOL