Wednesday, May 22, 2013

Plan for Paying Off the Tractor

I have spending too much time thinking about our tractor debt. We don't have a payment due until next month but I paid $600 to it this month. It brings the balance to about $24,650.

This is my game plan to pay it off.

$7000 from sale of motorcycle--it hasn't been terribly nice here so not many buyers yet

$3000 from remainder of daycare flex money

$2500 paid monthly until November when I go on maternity leave--this will be pushing it but these are my better months for commissions.

We should be paid by the first of the year and the start of double daycare. This is pushing it for us but I honestly do better when I'm super focused and a little uncomfortable.

2 comments:

  1. Looks like a good plan. Good luck!! It's nice to set a stretch goal and feel the accomplishment of meeting it!

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  2. I know this is none of my business, but you are having a baby. I would bank all that money and pay the regular payments on the tractor and then when that little sprout is born and I was at status quot emotionally I would pay it off. The interest between the 6 months is not worth the anxiety of not having a big old baby cushion. Just my thoughts. I want you to be able to enjoy your little ones, punk will have a new sibling big adjustment you will have both hands full literally and winter will be there along with your tractor!. Don't you just love my run on sentences....I went to college, I got my college!

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