How is it already almost the second week of May? I think when, at least in this part of the world with our crap winter, you wish time away it sometimes goes faster than we’d like. While I’m happy about the impending good weather I’m not to much looking forwards to my baby turning two next month. I’m still in awe I’m not pregnant let alone the mother of a two-year-old!
April was a monumental month for us. I finally paid off one of my student loans! It was the smallest of our debts (starting balance around $4,200) so I’m glad it’s finally gone and no longer have to think about it (even if, as of March 2014 it was sitting at a 0% interest rate). I’ve mentioned before that I’m not paying our debts off in any particular order. I tend to put money towards debts that annoy me more than make and reasonable sense (in terms of expert advice). Honestly, I am of the opinion that as long as you’re paying debt off there is no right or wrong way. Some methods may have you paying more interest but at the end of the day we’re moving in the right direction and that’s all that really matters!
Paying off my loan this month meant we put more than our $2,063/month minimum (to be debt free in 46 more more months). Whooo! In April we were able to put $2, 131.84 towards debt. If I’m being honest I could have put about $100 more towards debt but I decided to spend a little money this month of stuff I normally wouldn’t have for my husband, kid and I. You better believe I made that $100 go far 🙂
Now that this debt is paid off, I’m unsure where I will redirect our money. Again there is no ”wrong” answer I just don’t know what will give me the most satisfaction. The 0% loan that will go down fast and probably give me the most relief when it’s gone, the pesky <$3,500 loan which annoys me because of it’s size or the vehicle, which though would be nice to pay off, is a secured (vs. unsecured) debt. All debts are less than 5.5%.
Which debt would you tackle next? Personal satisfaction? Annoyance? or Practicality?