ElysianConfusion

April 6, 2012

Mixing It Up!

Filed under: budgets,debt,money — by elysianconfusion @ 1:19 pm
Tags: , ,

We are getting crazy over here… hopefully that will move all this payoff ahead more quickly. First of all, we got our ARM adjustment letter again, and it went from 3.00% to …. (drumroll) 3.00%. Our payment officially goes down, but we’ll just keep paying the same (maybe that’ll help if/when it ever adjusts upwards). Right now I’m not sure we have the equity (vile market) or it’s worth the fees involved to refinance. I’m pretty sure we don’t have an option anyway!

So, one thing I’d been resistant to was moving credit card debt to our home equity line or moving credit card debt to another card. I feel like in the past we’ve done that and, well, you can see where it got us. Nowhere. But … taking recent behavior into account, and believing we’re truly reformed, I’m trying again. So – I moved my Upromise to the home equity line. Then of course they offered me a 0% on their (now balance free) card – so I moved the Citibank to the 0% – good through February 2013 – by which time it should be completely paid off.

New table:

Ready?

Debt Amount Rate Month Paid Off
Visa $0 8.5% February 2011
Bank of America $0 9.9% February 2012
Upromise $10,886.13 0% December 2012
Citi $0 9.15% April 2012
Car #1 $0 4.7% March 2012
Car #2 $4417.30 2.9% May 2013
Home Equity Variable $11,351.26 4.0% June 2013
Home Equity Fixed #71,487.05 3.99% October 2015
Student Loan $17,226.39 2.9% January 2014
Mortgage $181,395.50 3.0% March 2019

So, maybe it doesn’t change the final dates, but it does save interest. And the less I pay to Citi & Bank of America, the better – right?

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