Ok, so I'm keeping this post fairly short for today but I need your opinion. Today is Express payday and in order to make ends meet next payday with my smaller paycheck from being gone on Spring Break, I have to think about how to arrange the money accordingly. Normally, 20% goes to savings, which this week is $17. The rest of that paycheck goes to complete my budget and anything left over is a loan payment. Today, the left over amount is $34.20.
My original plan was to save that $34.20 to carry over to my next paycheck to make ends meet. Then I had the $17 I can choose to save or make a loan payment. So there are two options right there.
Or, I could make a loan payment with $34.20, keep the $17 in savings and then when the next paycheck rolls around and I'm a little short, I can take what I need from savings.
I know savings is important and all but when I have an interest rate that's 12.75% and I won't be able to make a loan payment at all next paycheck, I really want to do what I can right now. My interest has already accumulated to $17 so if I let that sit through this paycheck and the next, it's going to be a lot harder to make a dent in the actual loan after I get through the interest.
So it's up to you readers-let me know what you think is the smartest move to make this week.