Since I keep forgetting here is a breakdown of interest rates:
- Dodge Car Loan 4.39%
- Kemba Car Loan: ? I don’t have access to this account. The good news is I don’t pay any towards this debt either. (Legally responsible cosigner so I add this to my net worth)
- Chase Student Loan 4.25%
- Great Lakes Student Loan 5.16%
My debt payoff plan is using the debt snowball. If I can get a bit more disciplined I could realistically be debt free in 5 years and be FI in 10 by age 45.5.
Here’s a quick snapshot of my net worth since I started tracking in November of 2016:
I do know however that my savings will go down about $600 as I pull money from our vacation coming up in a few days (as of this writing). However, by next payment, the Dodge car (my car) loan will be under $10k. Woot woot, low mile stone. I’d like to get aggressive and pay off the Chase Student Loan by the end of the year, but that may be too aggressive.
As stated earlier, I can be debt free in about five years at the rate I’m going, if I get slightly more aggressive when overtime and other bonuses hit. I cannot wait for the Kemba car to be paid and that debt be gone from my life. I believe it has less than 2 years, so if the owners get antsy and sell the car, I should have that debt gone. Here’s to hoping!