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Car payments

November 28th, 2014 at 04:27 pm

Made over $1,400 of car payments this month.

So as of now, our car payoff is 7 months away. However, I plan to keep putting extra so that I can remove one more line from my "liabilities" column on the household balance sheet.

Plus, once car payment is gone, it is like increasing our income by the amount of the payment.

Posted in Uncategorized | 3 Comments »

3 Responses to “Car payments”

  1. Another Reader Says:
    November 28th, 2014 at 08:47 pm 1417207679
    1417207679

    Rental mortgages are the same. Can't delete them from the liabilities column on the balance sheet quite as fast as a car loan, but the effect of deleting one is quite noticeable in the net income cell on the income and expense spreadsheet.

  2. househopeful Says:
    November 29th, 2014 at 02:06 am 1417226797
    1417226797

    Congrats on the paydown!

  3. snafu Says:
    November 29th, 2014 at 02:22 am 1417227774
    1417227774

    Good going on paying more than required sum on your car loan to end it sooner. Did you make arrangements to have the extra sum being directly applied to the loan's principal? We were astounded at the difference it made to pay off cars. What is the plan for that money starting June or July 2015?

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