After moving around a bunch of money yesterday and thinking about the third paycheck I’m going to get on Friday, I was inspired to make an extra payment to my student loan.
This morning, I logged into Wells Fargo and my balance was $10,558.
When I make extra payments to my loan, I really like to make them in an amount that will change one of the numbers on either side of the comma. It’s probably a psychological thing, but rather than just making a nice even $50 payment and still owing $10,508…. I made a $60 extra payment because I really wanted to see that 5 turn to a 4!
Does anyone else do that?
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I like paying the extra with change. For example, say my balance was $9,132.76. I’d pay extra (say $60) plus the 76 cents, so I’d pay $60.76. It’s kind of fun to have the amount owed show zero cents…I guess it’s another one of those psychological effects of paying off debt!