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One more June debt payment

June 29th, 2011 at 11:13 am

AS's other student loan hit today: $61 went to principal, so that's $1849, $149 more than our June goal!

This is the student loan with the super-low balance: It's now down to $670. So tempting to pay it off, but it's got the second-lowest interest rate (2.25%) of all our debts -- only a little more than $1 goes to interest every month. So I keep resisting and putting our extra debt repayment money to our current highest-interest (6.41%) debt. (I say "current" because most of our debts have variable interest rates, so those could start to go up at any time and possibly surpass the 6.41% one, which is fixed.)

Anyway, since we pay $60 or $61 on this small student loan every month, at $670 that means we only have 11 months left on it. It's only a $62 per month bill, so it's not worth paying off. But it certainly is tempting!

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