Saturday, April 18, 2009

Estimated pay off date for Personal Loan

After making out my budget for a year and a half, I calculated that my personal loan will be paid off in December 2009. For a long time I was only paying $20 / $40 here and there, but now I've worked my way up to $50 per month, for the next two months. In July, I'm bumping it up to $225 per month (and possibly more). Again, all this is assuming my finances remain the same.

I struggled with this debt for a while as far as what priority to give it, because the person is not charging me any interest and doesn't need the money, I know this to be true. In fact, the times when I've brought up repaying the loan, she has told me not to worry about it.

Anyhow, it was a loan from a friend and although it is at zero interest, it should receive priority.

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