Payments. Here's my plan
#41
04-14-2007 | 06:32 PM
RE: Payments. Here's my plan
ORIGINAL: Biggzed
One rule of thumb I have tried to live by to pay things off early is:
Figure out what the principal and interest are separately. When making your payment each month, try to double the interest portion every month. You will pay it off in less than half the time. For example:
Monthly payment (principal + Interest) is $200
Principal is $50
Interest is $150
Try to pay $350 each month.
i always pay extra on the principle never on the interest. the principle is what you actually owe. reducing that reduces the interest you pay. the interest is going in someone elses pockets. the principle is going in yours. someone is going to explain paying extra on the interest to me cause i don't get it.
One rule of thumb I have tried to live by to pay things off early is:
Figure out what the principal and interest are separately. When making your payment each month, try to double the interest portion every month. You will pay it off in less than half the time. For example:
Monthly payment (principal + Interest) is $200
Principal is $50
Interest is $150
Try to pay $350 each month.
i always pay extra on the principle never on the interest. the principle is what you actually owe. reducing that reduces the interest you pay. the interest is going in someone elses pockets. the principle is going in yours. someone is going to explain paying extra on the interest to me cause i don't get it.
#42
04-15-2007 | 02:08 AM
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RE: Payments. Here's my plan
SEVENTY MONTHS LEFT on a Bike?
Holy COW !!!
I've had (and paid off) house mortgages for less time than THAT !
However.....the sooner you get it paid off, the better you will be. Remember, that, a motor vehicle (yes, EVEN a Harley) is a Depreciating asset, and as such, should be farther down the list of things you should be doing. Fun is one thing...Security is another.
Holy COW !!!
I've had (and paid off) house mortgages for less time than THAT !
However.....the sooner you get it paid off, the better you will be. Remember, that, a motor vehicle (yes, EVEN a Harley) is a Depreciating asset, and as such, should be farther down the list of things you should be doing. Fun is one thing...Security is another.
#43
04-15-2007 | 02:10 AM
RE: Payments. Here's my plan
ORIGINAL: dragonfiregirl
my car is paid for. 69 camaro was my dads until he let me have it. im only 18 and dont have much credit history so my bike loan is going to be my big test
my car is paid for. 69 camaro was my dads until he let me have it. im only 18 and dont have much credit history so my bike loan is going to be my big test
LOL
#45
04-15-2007 | 06:19 AM
Extreme HDF Member
RE: Payments. Here's my plan
If, as mentioned in an above post, your car is a Saturn coupe would you be considered an automobileposer for calling it a sports car?? 
#46
04-15-2007 | 08:40 AM
RE: Payments. Here's my plan
ORIGINAL: whaap
If, as mentioned in an above post, your car is a Saturn coupe would you be considered an automobileposer for calling it a sports car??
If, as mentioned in an above post, your car is a Saturn coupe would you be considered an automobileposer for calling it a sports car??
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