Okay, so today is Thursday, not just any Thursday but a Wanda Payment Thursday (that and I get to run to the hills tonight after work . . . yay!)
This means that since a Wanda Payment went through last night (at midnight) that this morning I get to see what the new balance of the loan is.
This allows me to see just how that payment affected the overall balance and even drill down into it to determine some sort of pattern.
By doing this, this month, my “Control Month” I get to see just what happens when I just make the regular payments on the loan.
This will be important when I start to make large payments on that loan along with the extra payments on the Off-Thursday (Non-Wanda Payment Thursdays).
I need to see just what effect any of my efforts are going to have on the loan so I can tweak and tune my plans so as to have the maximum effect on that loan.
As it stands my last payment was 64.80% interest yet this payment was 64.72% interest, a drop of .08% from one payment to the other.
I will see if this trend holds or if it is just an anomaly. Again, this is the point of this part of the study, to see what happens if I do nothing (other than what I have to).
I have one more payment this month (on the 24th) before my first “Odd Payment” oddly enough it falls on December the 1st. I eagerly await to see what affect that extra odd payment makes on the loan.
By doing this, by measuring what happens now and what happens when I make my changes, I can better model and predict what the loan will look like in the future.
By being able to do that, I can more accurately predict just when this loan will finally be paid off. This is vital to make sure that I stay on track and on schedule.
As always: Keep your head up, your attitude positive, and keep moving forward!