telophase | (no subject)

CAR PAID OFF.

Or, at least, the process started for paying it off, as in I called, got the total needed for payoff, told the computer I would be sending it in, and directed the bank to send it in. It's entirely possible that Something Will Happen and make this process a serious hassle, but the money is committed.

I got a huge (for me) tax refund this year thanks to having the IRS pull extra money out of each paycheck* plus the student loan interest payment credit**, and once the refund was deposited*** I took a look at the amount in my savings and realized it exceeded the amount owed on my car by a nice, comfortable margin, so I went with my impulse.

Only thing left owing now: student loans! Which I will still owe for quite some time to come! If I were being faultlessly logical I would have moved my car payment over to my student loan payment, but instead I am directing it to my savings, because seeing that chunk removed wasn't entirely fun. XD

* Due to art sales. Self-employment taxes are a killer, and the income is so variable I can't predict it, so I'd rather get money back than have an unpleasant surprise. People who want to wank on about how I'm depriving myself of interest can shut it - the sums I'm talking about don't provide interest worth discussing.

** YAAAAAY!

*** Electronic filing and direct deposit BOO-YAH!

Flat | Top-Level Comments Only

Randomly, I just love that icon of yours. It makes a friendslist very hadnsome.

Glad to serve! XD

Woo! I remember how nice it was to pay mine off.

Yay. Mom also transferred some money to throw at the student loans, so I've scheduled that payment to go through tomorrow. Woo! Still owe a lot, but now that's slightly less. XD

Congrats! Being able to pay off a noticeable debt makes it easier to tackle the long term ones, I've found. ^_^ (2 student loans down, 2 to go, on my part!)

Thanks! I can look at the loans now and see an actual reduction in the amount of money I owe! I can actually pay it back within my lifetime! Woo!

awesome! ^_^

On my flist, this entry is right on top of news from another friend who just found out repairs are going to cost more than she owes on her car. So much car news today!

I've had a few days of f-list posts like that, only on other subjects. XD

BTW, got Toph yesterday and gave to

myrialux, who was thrilled with her. Thank you! :D

Ee! I'm so glad. Thanks for the business!

I tried to make sure there were no dings or bends or scratches on the mounting/mat.

It came through perfectly. And the corners provided my kitten something to play with! XD

I think I'm about 5 months away from paying off my car. I figure that's when that "list of things that are about to go wrong with your car" that I got when a flat tire took out the wiring to the fueling system will come into play.

Oh, yes. I fully expect that the date my car starts falling apart has moved up by 11 months now. XD

Just paid my car loan off last month, too. Welcome to the land of the free and clear.

Woo!

Time for the car to start falling apart! (I think the primary reason I'm applying the car payment to the savings account instead of the student loans is that I'm going to need the money for car repairs when and if it starts breaking down.)

My experience is an example of that. The day I paid off my car, it was in the shop for maintenance that cost twice as much as the final payment. I drove to the bank in a rental.

Excellent!

I'm still balancing credit card debt and building savings. While I have been cutting back on expenses, it cannot be helped when tires must be bought.

Yup.

The concept of the snowball debt-payment helped me: the logical thing to pay first is the highest-interest loan, because you lose less money that way. But if you're not a conscientious debt-paying person, you need to do what feels better and will keep you paying, you you focus your resources on the smallest debt first, because that gives you the most emotional bang for your buck, then take those resources and throw them at the next-smallest debt, and so on.

I didn't do precisely that due to circumstances, but close enough and it works for me. :D

Yeah, I know what you mean. Mike and I discussed that before.

Still, I'm fortunate (perhaps spoiled) in that I don't have lots of debt. That credit card is my main debt, and up until a few months ago, I paid it off regularly each month. Now I just pay most of it off and carry a balance (which means the bank probably loves me).

I pretty much can't remember a time without student loans. XD I squeaked through undergrad on my parents' dime, but two MAs that I financed myself* and had to refinance for a 25-year loan instead of a 10-year loan thanks to liberal-arts income have OVERTAKEN MY LIFE.

* if you don't count my mom gifting me money for them on occasion. XD

Yeah, I'm the same way. Paying down a large debt just doesn't have the same feeling as paying off a smaller one. Once I had only larger debts left, I started working on the highest interest one, but when there were still small ones, I always went for those first.

Yay car!

Yaay!

Go you! *fireworks*

Wheeeee! XD

YAY you!!

We are hoping to pay off one of the mortgages this year. It was a loan from the local bank with a balloon payment after 15 years (which is now 12 years away) and the interest rate is 8%. Doesn't really make sense to refinance it when we have just about enough set aside (we've been working on this a couple years) to just pay the sucker off.

If I were being faultlessly logical I would have moved my car payment over to my student loan payment
I'm a big fan of getting rid of debts if possible rather than being entirely logical about interest rates etc. The psychological boost I get from paying off a debt is awesome! And having just ONE debt to focus on is easier for me.

Congratulations on paying off the car! =D

Woo-hoo!

Congratulations! I stand in awe of your self-discipline.

Yay!

Good for you! Paying things off is such a great feeling.

Woooot!

Congrats!

Wahoo!

Yays!!! Paying off a note is always good!

Huzzah! *throws hands up in celebration for you* I paid off my car last year and it felt oh-so-good, especially the part about not as much money being paid out every month to bills. XD

Congrats!!

Yay! I remember how good that felt.

For me, it came just in time too: May 2007. I never would have been able to keep up with it, say, last year.