You all are so awesome. I can’t begin to tell you how much we have gotten out of your posts and how much we appreciate all of your suggestions and support.
We will definitely check out that website. Thanks for sharing.
-Only have $5,000 credit card debt, but the rate is 20%.
-$50,000 in student loans, all federal so rate is nice and low at 3-4%. Payments are $400/combined per month.
-Car payments…here’s where we’re taking it in the behind.
Payment for 2014 Honda Odyssey is $440/mo on a 4 year lease.
Payment for owned 2013 Toyota Prius is $667/mo. at 10%. (ok, you can all stop laughing now. My pride was already limping around, and then I had to expose that).
So, car payments=$1100/mo.
Originally the loan for the Prius was for $38,000 for the $27,000 car. This is a result of a series of trading in new cars every 1-2 years and rolling the losses into the new car loans. Never do this. Duh, I know, right? Well, now we owe $27,000 and it’s worth $18,000. No one will refinance or let us trade it in because we are so underwater. That is a huge part of the “chipping away at debt” that I was talking about. We need to continue throwing as much extra money at that damn car to get rid of that ungodly payment that is slowly sucking away at my soul.
