Here's the plan:
- My current balance is $263.11.
- Since I typically depend on 2 paychecks a month, it's a personal holiday when we get 3 and I come into some extra money. September just happens to be one of those months.
- I'm going to set aside the usual amount for a payment, which for that card is $51.50.
- I'm also going to take the amount that I usually set aside for my Chase credit card and apply it to this card, which is another $40.
- Then I typically make a monthly payment of $102 to that card anyway, so that brings the balance down to $69.61.
- Since I do not need to set aside money for rent from this extra paycheck, there's an extra $500. I will take the $69.61 (it might be $10 more with interest charges by the end of the month but you get the point) and voila! It's paid off! A concrete balance of $0!
I have not received the gift that keeps on giving from my parents for August so there's an additional $75 payment to Chase already!
One thing I have been wondering though is what to do with the extra $420 I have from this bonus paycheck? Tomorrow $75 will be added to my savings account as my monthly transfer so I will
What do you think?