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Loan Reduction!

January 23rd, 2019 at 07:05 pm

Mom went through all the utility bills for the past two years and realized how much she has actually been overcharging us for utilities. She has given us a reduction on the loan of $2500 to make up for it. She has also reduced the amount we need to give her each month from $500 to $400. But $2.5K! That is 10 percent of the remaining loan balance. And we will be making a payment on payday, so January is getting us way ahead of the game on knocking out that loan. I needed this win right about now.

$25,000.00 Loan Balance
-_2,500.00 Loan Reduction Amount
------------
$22,500.00

Woo Hoo!

4 Responses to “Loan Reduction!”

  1. creditcardfree Says:

    That's fantastic! I'm so happy for you. Curious if she did this all on her own or with your prompting? I know you had mentioned the overpayment issue before on the blog. Will you continue with $500 a month or pay $400?

  2. Lucky Robin Says:

    $400. I will use the extra towards the food budget.

  3. rob62521 Says:

    Super!

  4. frugaltexan75 Says:

    Fantastic news!

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