Saturday, March 15, 2008
Just A Thought
I was thinking yesterday about how I am repaying my auto loan. I don't know if I'm going to do this, but here's the plan. As I posted previously, my next car payment is not due until June. I have $829.68 budgetted to pay each month. Instead of sending those payments in April and May I would like to send just the interest that I'm being charged during those months. I would like to put the rest of the money into my savings account and let it earn a few cents of interest. Then in June I would send all the money I had budgetted from April, May and June which would be the equivalent of 8 months of payments. So the next time I could save the money and earn 8 months worth of interest.