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If you've been following along, you would know at this point that I was planning on paying off my collection account (~$3k) between my taxes and my goalsharing payout from work. This would really provide me with another $200/mo income since that's what my current payment is.

This is going to have to wait. For multiple reasons, actually. And it's not even totally my fault. I had already gotten my federal income tax back, which turned out to be a little more than I had initially expected - so that was good. The down side of that though, is that it is essentially all gone already. Yes, I spent it all in a week. I'm not even sure how.

I did however, pay off one credit card (Best Buy) so $300 went to that. I wanted to get rid of that one fast because of it's high interest rate. But I was planning on paying it off soon anyway - just figured this was the best time.

But the main reason my collection account will remain a little while longer is because our goalsharing payment may not be as awesome as I'd like. I don't know an exact number yet (won't know for a couple weeks) but it is likely going to be a few hundred $ less than I had hoped. And if I can't completely pay off my collection account in one payment, there's no sense dumping any extra money into it right now because it wouldn't lower the payment one cent.

So what now then?

I do have a "small" loan from my 401k that I could pay off. I'm currently dishing out about $52/month for that payment (currently about $931 left to pay). The interest rate isn't incredibly high at the moment, but it does have the potential to make the most impact right now. That is, it's one of my lower balances and would give me the most "income" in return for being paid off. I could pay off the same $900-ish on my WaMu card, but I would only net about $25 more each month after paying it off.

Seems like a no-brainer to me. Now I just have to wait for the $$.

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