The only debt we have is Y's pick-up. We bought this is July 2014 for $30,000. He had a trade in with his old pick-up for $3000 and we put $10,000 down. We put $2000 on a credit card which we paid right away and financed $15,000 at 2.66%. My thought when we financed it was to divert our money into our retail stock account rather than pay extra on this loan. My goal was to have at least $15,000 in our stock account by the end of the year. We actually had $20,000 at the end of 2014.
This brings me back to this loan. I've been paying between $5-600 monthly on it. The balance the beginning of this month was $12,000. Y and I decided that we want this debt gone. We want to lower our monthly obligations and we are waiting for a market correction. I paid $200 earlier this month when I received a reimbursement. Yesterday for payday, I paid another $3600 to it bringing the balance to about $8200. I want this gone ASAP but I'm not willing to drain our savings account.