Wednesday, January 27, 2016

The 27th

First extra payment of January 2016. Here is the breakdown:

On 12/31 I put back $224.29 from that paycheck which is my raise for the past 2 years that I pretended that I did not get, plus money from an extra shift that I picked up.

On 1/15 I put back $124.08 from that paycheck which is my raises from the past 2 years that I pretended that I did not get.

I like to pretend (it helps) that my payment is still $200 a month, but with all the extra payments that I have been making, that monthly payment is now down to $97.80 a month. I add the difference which is $102.20 to my extra payments.

Right now I am working on eliminating loan number 1-05 which has a balance of $1558.70, so after today's payment of $450.57 it is now down to $1108.13.

I plan to pay off loan 1-05 and loan 1-01 next month. Fingers crossed that I get my quarterly bonus in February and I have also been adding to my savings and plan to just keep a baseline balance this year and anything over the baseline will be applied to some of the bigger loan balances to help pay them off, while I whittle away at the smaller loan balances with raises, extra shift money and any extra money that happens to come my way.