We paid off the truck today!
Never fear, my frugal readers, we won’t be celebrating with champagne. I can’t drink it, and Hubby doesn’t like it. We’ll be popping open some super highbrow juice boxes (which you know I used coupons on) and toasting each other tonight. To living without debt! To having a vehicle paid off! Hooray! It’s a very liberating feeling. Even better is that this comes on the day Hubby starts his TRS classes in preparation to leave the safety net of the military.
We paid the truck off using the CD that matured recently, as well as the money we set aside each month for the minimum truck payment + some overage. We put the remainder of our CD towards opening a new CD at +4% interest, and to paying off our next highest interest debt (the line of credit). As of today, we owe $22,331.37 , $3,777.52 of which is high interest (above -4%). Putting this money towards paying off the truck instead of champagne, a new T.V, or something else frivolous has bumped our date of freedom up by 2 months!
We now have 5 debts instead of 6!