ST Alpha - "I would say, drop it, and when she starts working consistantly, put the extra 400 a month back in principal payments. nm -- nm" (Reading a Post)

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In response to "LYC: stuff" by oblique

I would say, drop it, and when she starts working consistantly, put the extra 400 a month back in principal payments. nm -- nm

Posted by groiny (aka groiny) Sep 9 '13, 09:20

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you're still losing ground in the long run because of the higher interest, but you gotta do what you gotta do. -- nm - znufrii Sep 9, 09:26 9
- sure, but paying the extra principal will drop the interest paid total as well. - groiny Sep 9, 09:29 8
  - it'll help in the long run, sure - znufrii Sep 9, 09:33 7
    - best thing to do is to plot out the amortization tables in excel and compare the different scenarios. -- nm - znufrii Sep 9, 09:36 6
      - best thing to do is cover your monthly expenses as best you can. the long run isn't important here. -- nm - amanda hk Sep 9, 09:38 5
        
        even in the short run, it's about $150-200 more being spent on interest a month instead of paying down principal to free up $400 a month in cash flow - znufrii Sep 9, 09:47 3
        
        the money spent on interest a month is irrelevant for this exercise. - groiny Sep 9, 09:49 2
        
        while your IM may be entirely true, including a discussion of costs in decisions about cash flow are by no means irrelevant. -- nm - znufrii Sep 9, 10:07
        
        right -- nm - Don Homer Sep 9, 09:51
        
        yeah, it is no fun stressing for 6 months on how you are going to feed your kids. nm -- nm - groiny Sep 9, 09:39
This. -- nm - pmb Sep 9, 09:24
Yeah, that's what I was thinking. Pisses me off I didn't just do that 2 years ago. We'd be sitting on a <4% 30year -- nm - oblique Sep 9, 09:22 1
- you can't dwell on that, do it now, and get some peace of mind. - groiny Sep 9, 09:31

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I would say, drop it, and when she starts working consistantly, put the extra 400 a month back in principal payments. nm -- nm

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