On the bright side...

**itsahumanzoo** · 07-19-2008, 02:06 AM

After stewing about the traffic fines for DH, we went over to his parents house because they invited us to dinner. I think they felt bad for us...Anyway, I checked the mail, and there was a refund check for the extended warranty on our van. We canceled it after realizing what a stupid mistake it was. I thought they were just going to put it towards the balance, but they sent it to us instead. $2266.

My first instinct was to pay it towards the van. But then I thought about that whole snowballing stuff you guys always talk about. It's enough money to pay off American Express ($1880) and Sears ($300-something) Plus, the van is only 9% interest, and our American Express card is at 15%. Makes sense to pay the higher interest off first, right?

Anyway, I was excited about it. And when those two cards are paid, that frees up $150 a month we can put towards another debt.

**Royal** · 07-19-2008, 02:17 AM

WOOHOOO, gotta love unexpected money!

**Greebo** · 07-19-2008, 06:17 AM

Awesome! That's gonna be a huge help!

**Michelle** · 07-19-2008, 06:37 AM

:woohoo:

Turned into a pretty good day after all.

**larabelle** · 07-19-2008, 08:45 AM

Unexpected money is such a big blessing!!!!!!!!!!!

**Michelle68** · 07-19-2008, 11:23 AM

How cool! It sounds like you'll be putting it to good use.

--Michelle

**jamie79** · 07-19-2008, 11:37 AM

very good!!!!

**DixieJ** · 07-19-2008, 12:11 PM

Woo Hoo!!! Gotta love it when things like that happen!!

**lwlynch** · 07-19-2008, 12:16 PM

good job.. so glad you got a great blessing.. make life so much more exciting at times.. especially when you never saw it coming.....

**itsahumanzoo** · 07-19-2008, 12:21 PM

Originally Posted by Greebo

Awesome! That's gonna be a huge help!

So, you think we made the right move with what to do with it?

**Wendy99** · 07-19-2008, 12:30 PM

I think you definately made the right move!!! Good job!!! The wrong move would have been to go out and buy a new flat screen tv or something, but you stayed focused & now feel even more motivated having those paid off that you can really snowball now!! GOOD JOB!!!

**Greebo** · 07-19-2008, 01:03 PM

Originally Posted by itsahumanzoo

So, you think we made the right move with what to do with it?

On three conditions, yes:
1) You closed the American Express account.
2) You closed the Sears account.
3) Your baby Emergency Fund is funded.

If you'll never, ever, ever, use them again, it's absolutely the right move.

If your BEF isn't funded - its a GOOD move - but you need the BEF funded to be sure you don't NEED to use the cards again.

If you intend to use them again, why bother paying them off.

What, you thought you'd get unconditional respect from me?

**frugalfriend** · 07-19-2008, 01:17 PM

How cool to get that refund! Woo hoo!

**itsahumanzoo** · 07-19-2008, 01:24 PM

Originally Posted by Greebo

On three conditions, yes:
1) You closed the American Express account.
2) You closed the Sears account.
3) Your baby Emergency Fund is funded.

If you'll never, ever, ever, use them again, it's absolutely the right move.

If your BEF isn't funded - its a GOOD move - but you need the BEF funded to be sure you don't NEED to use the cards again.

If you intend to use them again, why bother paying them off.

What, you thought you'd get unconditional respect from me?

We were not going to close the Amex card, but switch to the one that's free. I could not figure out for the life of me why we decided it was okay to pay a yearly fee for a credit card! We have a lot of points still to redeem before I do anything. Probably just get some amex gift cards and use them for groceries...

Sears will be closed. We don't need it. DH got it so he could buy an HD TV...

I know I need to fund the BEF, but unfortunately I'm going to have to clean it out again to pay DH's traffic fines.

I don't plan on using credit for ANYTHING. I have been really cracking down on our spending, and not driving as much, and not eating out so that every penny that we don't pay bills with is going into savings. That baby EF will be funded soon. I swear!