Having some fun...

[Wolfeyy]

Don't mind my brutality...

Pay the debt, TF!?. Even if it is zero interest . Knowing you have balances of that level and being so casual pains me. You can have fun later in life when you don't owe anyone. Even if you're not thinking about every day or whatever the case may be, the emotional burden that you're willingly putting on your body and mind is enough to be brought to reality. I believe.  

[sarge12]

---

@IOBA wrote:

I'd love to have feedback...and this is mostly to have fun with the numbers (for me.)

I have two debts.

1)  $13,639.79, zero percent interest.

2)  $29,168.87, zero percent interest.

In savings, I have $12,150.  I only have one big ticket item coming up.  That's buying new tires, cost about $1000, in six months or more.  Vehicle inspection said my tires were still in good condition.  

My regular paycheck is budgeted out so that I am putting money into savings.  I'd say about $500-700 a month.  I put away a portion of each paycheck to cover the big expenses that come up over time (like insurance premiums, real estate taxes, etc.)  When the next big expense comes up, based on regular savings, I will have the money to pay it.

That kinda of savings, I could go on vacation!  (Havne't had one in years!)

That kinda of savings, I could move.  (Possible job move later this year. I'm months away from the possibility.)

That kinda of savings, I could have a spa day!  

That kinda of savings, ALL applied to the lower balance debt...and I could have it paid off in August 2016.

It's kinda exciting to think I have that much money saved.  *Happy dance*   And it's kinda exciting to think I could pay off one of the debts next month.

So what should I do?  Go on vacation, keep the savings, have a spa day, or apply it all to the zero percent lower debt?  Whatcha think?

---

I am having a hard time understanding this post. Who loans that kind of money at zero interest. If those are on credit cards, at the end of the introductory period, if not paid off, their will be a fortune in interest due. Were these both maybe 0% interest on a car loan?

[IOBA]

Update.

Yes, the zero percent loans were credit card offers.  Yes, if it's not paid off by the date, there is a lot of interest that would be added to the balance.

I put 7k into CD's earning 2-3%.  That felt good.  REALLY good.  But what felt even better was paying off one of the loans!!  **little scream while dancing**  I couldn't help myself.  I am so allergic to debt that I just did it.  Now I just have one left.  Can't pay it off, but I am making strides on getting it down to zero balance ahead of schedule.

I have a pay off chart.  So each time I make a payment, I record it.  Off to the right side of that chart, I have another little chart.  One keeps track of the CD's.  I am now putting $100 a paycheck into the CD's.  Another little chart tracks how much is in my savings.  My goal is to keep the CD balance and the saving balance pretty much the same.

Once the cc loan is paid off, I will save a little more money and then start maxing out the retirement plan.  Right now, I make sure I get full employer match.

Oh - never had that spa day, but I did get a new shirt.