The progress that I have been making since January is amazing. I’ve brought principals on loans down, making monthly payments less and less. I’ve deleted some debts, and have accumulated some too ($5000 student loan for this upcoming school year).
Before school starts in September, I wanted to head to Grand Forks to buy school supplies. The cost of said supplies plus the cost of gas still works out to be cheaper than what I would buy here, extremely worth it. I was also going to buy clothes and shoes, and spend time with my cousin. Over the next two paycheques I was going to put away $400 for the trip, even if I wouldn’t use the entire amount.
Then today, I thought of something better that the $400 could be put towards. My car. I owe $443 left of the car loan from the bank; after Friday the balance will be $374. I am going to pay off my car loan so that the car will finally be mine oh mine, and not belong to the bank.
It is a smart idea. It will be another debt down that in the long run will allow me to own a home in five years.