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Yey for payday and good habits

January 24th, 2014 at 08:03 am

With no more balances on the credit cards I've quite enjoyed paying in cash and sticking to a budget. Something I never thought I would say!

Just got paid and despite choosing to save over making as big of an extra car payment I feel great. My EF is finally at 2K again and my savings account is getting ever closer to that 4 months worth of expenses goal. Things are progressing toward ending in my project but the likelihood of being called back for another seems good. Whether that happens soon I don't know.

My resume is out there and I'll network but now that my financial habits seem to be well established I think its finally time to start to focus more seriously on health goals. I've used what I've learned to sticking to financial habits to set some doable and easy to keep up fitness goals.

I'm thinking they will serve me well if I stick to it.

It's funny to think how far I've come in a year. I went from not having any savings and no job to a part-time job to this wonderful project that I took on which has allowed me to pay off my credit card balances, create an EF, increase retirement contributions and develop a budget that even allows me to save toward goals like paying off my car loan early.

This whole experience has just been fantastic and I know that no matter what happens I will stick to the plan. So refreshing to be here. The first step is always hard but to be here after a year feels fantastic. Thank goodness I took the initiative to make it all happen.

One last dilemma I have though is that if I have a month left I know I can use the next paycheck toward debt. And the last one toward bills.

My goal is to pay off the car but the student loans are not really shrinking. I might have 700 extra to put toward a debt in the next check (after taking out money for retirement, goals, etc.)

So knowing the situation would you:

A - Put the money toward paying the car currently at 5305 with 10% interest

B - Put it toward the smallest of the student loans (1K) with 6.55% interest

*All my student loans are federal loans

2 Responses to “Yey for payday and good habits”

  1. just a thought Says:

    I would definitely choose the car loan between those two. But if I were at all unsure about job status in the future, I would probably sock it away and keep it in savings until things were stable again. Fingers crossed that another project will come your way!

  2. Permanent Temp Says:

    I actually decided this morning to put it in my dental account. I had forgotten about it til this morning when I was in pain again. I haven't been able to afford healthcare for years now. My husband got a new job and may be able to add me on to his, since health insurance is required now. $700 could help cover some of the cost so that I don't have to wipe my EF clean for med bills again.

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