…NOT a new budget????
Dang! Is this possible? English-major math suggests there’s enough left in the 2016/17 budget to cover the new car payments, and then some.
The car payments, at 1.9%, come to $387.67. That’s a little better than the $400 the car dealer wanted to extract for the 2.9% loan they had in mind.
As a practical matter, I could have afforded the loan they wanted to make…it was the principle of the thing. I surely didn’t appreciate being maneuvered into a percent more (or any more, for that matter) than I’d already negotiated at the credit union.
The amount budgeted (at least for the winter season) is $2,084/month. As a practical matter, the high summertime bill is around $2,655.
Meanwhile… When you take this year’s RMD and add net Social Security to it, then subtract the $4,652/year car payments, and then divide the result by 12, you get about $3,000 left to live on.
If you take the $2084 figure as an average monthly cost (and therefore some months will cost less), a substantial amount should be left at the end of 2017: more than enough to replaster the pool.
That’s assuming no disasters occur, of course.
At that rate, I think, there’s no need to hurry to pay this loan off. I can use next year’s remainder for the planned pool maintenance, and still have something for a substantial emergency fund. Or…to make next year’s payments.
It’s a miracle. Or something…