I just arranged to have the last of the balance on the credit card paid off this coming Monday (waiting for a transfer from one account to another). I took part of it out of savings, but in the end it makes a lot more sense to pay off a card with 14.99% interest rate rather than letting that cash sit in the EF at less than 1%, although I will build the EF back up asap.
I do have 100 of that money coming back from my daughter, but I won't get that until late next month. She is in the hospital having surgery on her infected gall bladder later today. Luckily, this won't affect her new job. However, because she is new, she isn't getting paid this week so I told her just to pay me sometime in July.
I also talked to my student loan lender. Long story short, starting in September I will pay 198.98 per month which will cover both my undergrad and grad loans. This was one of six choices I had. I liked this particular choice because it gave me a low payment without having to re-do paperwork each year based on income. If there is any balance after 25 years it is forgiven, but I honestly want these gone asap. I will start formally tracking those here in September.
Still pretty far off from where I want to be financially, but happy to be making progress!
Paid Off!
June 19th, 2013 at 10:06 am
June 19th, 2013 at 11:41 am 1371642075
June 19th, 2013 at 01:25 pm 1371648345
June 19th, 2013 at 06:31 pm 1371666705
June 20th, 2013 at 01:15 pm 1371734150