My CU offers an annual option to skip your loan payment(s) in November.
I can remember years when taking advantage of this option was our primary $ source for Christmas shopping. I literally planned Christmas shopping around the amount of payments we were able to skip! (YIKES) This was back when all four kids lived at home, we had much lower income, and we were up to our eyeballs in debt. I looked forward to and relied on that wonderful notice that it was time once again...once the payments were skipped, I WENT SHOPPING! (Again, yikes)
Then came the years when the skip was nice to have, just for extras we wanted for the holidays or any upcoming vacation plans. I took advantage, but it was really just "extra" that enhanced what we were already planning. We didnt need to do it, but it was sure nice to have the extra.
Then, there were the years where we didn't skip any payments because our desire to payoff our debts far outweighed any need for "extra" money. Skipping a payment would have derailed our plans, and that was not something that enticed me in the least. I know some of my fellow bloggers here would have viewed a skip this way long before my financial brain caught on...just thankful I eventually saw the light!!
This year, when the skip offer arrived, there were no payments to skip. NONE. It is such a nice feeling to finally be in control of our finances like this. We owe our mortgage, but otherwise we are debt free.
So thank you CU for the offer, but finally, we have nothing to skip!
Annual Skip a Payment
September 22nd, 2020 at 08:08 pm
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