+8 votes
by (7.5k points)
So I am only allowed so many payments on my car a month. It will be paid off by the end of this month, we get paid weekly. Should I save up the amount from each paycheck and pay it off at the end of the month. Or we have enough in our secondary savings (not our emergency fund) to pay it off today, then by the end of the month replenish savings plus more (because we’re throwing some at debt and savings). **edit to add: I guess my main “concern” is if it’s makes any beneficial difference as far as interest goes. Is 2 weeks really going to make a difference?  
So I am only allowed so many payments on my car a month.

7 Answers

+7 votes
by (920 points)
I would pay it off today, but I’m very impatient
by (7.5k points)
@bawcock that’s how I’m feeling. But im just not 100% sure if it would be beneficial between today and the end of the month as far as interest goes, etc.  
+6 votes
by (1.9k points)
I feel like there’s no wrong answer to this one. Just do whatever you feel is best.  
+3 votes
by (3.2k points)
I would use secondary savings pay it off, then replenish plus more :)
+3 votes
by (2.2k points)
You could either. The end of the month is only 2 weeks away. I myself an like @bawcock and am impatient and would want it gone before I find something else to a I end the money on
0 votes
by (1.4k points)
I'd use savings then replenish. Its only 2 weeks but that does possibly save some in interest.  
+7 votes
by (1.4k points)
Pay off today and replenish is what i would do
0 votes
by (9.8k points)
For me personally, if it wasn’t making a difference in the amount, I wouldn’t be able to use my secondary savings. My money has certain names to it and if I throw off that name and try to rename it to something else, I get confused and off track. Like I will make several transactions into my savings account for things that I need to move over, rather than adding it up and making one big transaction. I need to see the exact numbers and such. But that’s just me. If you’re not like this, then I don’t think either way is a bad idea  
by (7.5k points)
@acme9 I’ve got several savings accounts (sinking funds, EF, secondary savings, etc) for that reason lol. This is our secondary, for down payment or full out cash buy for a camper, atv, etc as we are big time hunters and campers, so all fun stuff lol. So while it is important to us, it’s not going to hurt us severely and I can pay it back.  
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