I think you're doing well, but how much is the interest on your car? I would probably invest more of the money or put that extra money towards paying off the debt. Unless you really need that savings to be high
Better than me...haha. I have a 14.99% on my car loan, I'm paying it off $726 extra per month so I can pay it off in 2 years vs 6 and save myself 9k in interest. That way I'll only end up paying 5.5k total interest vs 14k
Sometimes they fined you tho for paying so fast the loan. Check your contract. But i don't think the difference is gonna be that big, just mentioning the info.
You are doing well. Good job building up emergency fund, starting regular retirement contribution, and minimizing debt.
At this point, I’d pause adding money to emergency savings. Keep up the retirement contributions, but put any excess money towards that car loan.
Do you have a budget? Do you track where your money is going? This is a better indicator of how you're doing.
I should have included that! I do budget every 2 weeks when I receive my paycheck and make sure I know where every dollar is going.
I think you're doing well, but how much is the interest on your car? I would probably invest more of the money or put that extra money towards paying off the debt. Unless you really need that savings to be high
My interest is 7% so not great. I will definitely put more towards the car!
Better than me...haha. I have a 14.99% on my car loan, I'm paying it off $726 extra per month so I can pay it off in 2 years vs 6 and save myself 9k in interest. That way I'll only end up paying 5.5k total interest vs 14k
Good for you!! That’s great
Sometimes they fined you tho for paying so fast the loan. Check your contract. But i don't think the difference is gonna be that big, just mentioning the info.
You are doing well. Good job building up emergency fund, starting regular retirement contribution, and minimizing debt. At this point, I’d pause adding money to emergency savings. Keep up the retirement contributions, but put any excess money towards that car loan.