<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Archive: August, 2019
 

Archive for August, 2019

5th Wheel Loan Schemes

August 12th, 2019 at 04:17 pm

Now that I have decided to make paying off my 5th wheel loan a priority, I have been thinking about different strategies to get the job done.

One strategy I intend to pursue is to get a 0% no balance transfer fee credit card loan if I can. I have Googled a bit, and have found a couple of offers for 0% for 15 months, no balance transfer fee. If I were to borrow $4,200, that's a repayment of $300 per month for 14 months (I always plan to pay in full the month before the offer ends). It adds a bit more hassle to juggle both debts, but I would save an additional $334 in interest by paying a lump sum of $4,200 up front vs. paying $300 per month over 14 months.

So I will apply and see if I am approved or not.

A second item is that I have raided my Roth sinking fund. I had been depositing 5% of my gross pay to it each payday, with the intent to contribute the money in 2020 (I had already contributed the max for 2019). I am using part of the money for medical expenses (more on that later), and the remaining balance of $1,130.81 as an additional principal payment. I will schedule the payment as soon as the money hits my checking account.

UPDATE: Additional principal payment of $1,130.81 submitted.

Catching Up

August 11th, 2019 at 01:28 pm

So early this year, we lost our beloved Nala to laryngeal paralysis. This is a condition in which the nerve controlling the laryngeal flaps stops working, and so the flaps stop moving between the esophagus and the trachea. This was hard on everyone.

After grieving for a few months, SB and I adopted a female 2 year old English bulldog/pit mix. She was being fostered but was the property of the Bradshaw animial shelter in Sacramento. She has quite a personality and has successfully taken charge of SB and I, as we are both besotted with her. Her name was already Bella, and she knows it, so Bella it is.





We have had so much going on, and so much more is on the horizon. My brother and sister in law will be here in two weeks for an overnight visit. My birth mom is coming in late August/early September and will stay for a bit. And then my daughter and son-in-law will be here in late September for a visit.

This September also marks our 10th anniversary. We are planning to take a short trip, possibly to Lake Tahoe.

In financial matters, I have decided to make paying off the 5th wheel a priority. I have re-arranged my budget some and will begin paying the loan aggressively with my next payment. I have cut back my personal allowance, trimmed my travel budget, and will not contribute to my Roth. Instead, all of that money will go to the 5th wheel loan, along with every other dollar I can scrape up.

I will add a Page to my sidebar with the loan amortization to track my progress. I have already made a small amount of progress by making the first 3 payments before the due date (interest accrues daily). If you are interested, take a peak.