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Author: FlippoHip Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311074  
Subject: Re: The Plan Date: 1/27/2014 9:43 PM
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Ooooooooohhh... I get what you are asking.

Well, it's complicated.

The GI Bill is about $1k a month. Add that to the $300 I was going to put in from my pay. That's ~$1100 toward the $10k credit card (The interest payments are going to make it over $10k by the time it's paid off. I don't know how much more. I over budget rather than break it down that much. The interest rate is 7.9% and I paid about $80 in interest last month.)
When my daughter is with her dad for the summer, I won't have child support, so it will dip down to just paying $1k a month for a couple of months. That'll drag it out too.

I don't need the GI Bill to live off of. I do fine. This is just extra money. There won't be any replacement, but there will be about $500 extra a month to put toward the loan even after the GI Bill is gone.

I had already budgeted $300 a month on top of the $1k GIB for the CC and I'll put $200 a month less in savings. I just want to pad the savings up a bit first. I hate it being so low.

Sooooo I'll put the extra $500 toward the signature loan. Yes, the car will be minimum payments, because the signature loan is like 12% interest, but the car is only 3% interest and will be mostly principle at that point anyway. I'll pay down the loan rather than the car and they will both be paid off around mid 2016
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